September 10, 2018 / 5:50 PM / 9 months ago

BUZZ-Hexo Corp: Up on investment in Ontario facility

** Shares of medical marijuana producer up ~9 pct at C$7.66

** Co acquires 25 pct interest in a 2 mln sq. ft facility in Belleville, Ontario, its first outside Quebec

** Plans to use building to manufacture cannabis products including cosmetics, vapes, non-alcoholic beverages and other edibles

** Co says the facility, to be owned in a joint venture with Olegna Holdings, supports its hub and spoke model; plans to lease 500,000 sq. ft space of the facility initially

** Last week, Riposte Capital, co’s second-largest shareholder, urged the company to explore strategic options, including a sale, saying its stock is undervalued

** Including today’s gains, co’s stock has risen ~87 pct YTD (Reporting by Shanti S Nair in Bengaluru)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below