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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Hexo Corp    HEXO   CA4283041099

HEXO CORP

(HEXO)
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HEXO : Awarded Three Year Distribution Contract for Quebec On-Line Cannabis Distribution, Selects Metro as Third-Party Logistics Partner

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09/19/2018 | 06:31am EDT

GATINEAU, Quebec, Sept. 19, 2018 (GLOBE NEWSWIRE) -- HEXO Corp. (“HEXO” or the “Company”) (TSX:HEXO) and Metro Supply Chain Group Inc. (“Metro”) announced today that they have signed a contract to manage a warehouse and distribution centre for Quebec adult-use webstore orders for the Société québécoise du cannabis (“SQDC”).

HEXO and Metro will work together to run the modern 58,000 sq. ft. facility located in Montreal. The facility consists of a warehouse and distribution centre, will house product from all the licensed producers who have contracts with the SQDC and will contribute to the creation of 35 new jobs in Quebec.

The distribution centre has been positioned in the Montreal area to facilitate logistics and provide a closer link to the majority of the Quebec population. The distribution centre will serve as the sole distribution point for all direct-to-consumer shipments within the province of Quebec for orders placed through the SQDC online webstore.

Additionally, HEXO has attained accreditation from the Autorité des marchés financiers to contract with government organizations such as the SQDC. This is a required authorization for companies conducting over one million dollars in business with the government of Quebec for both services and the supply of products.

“We are extremely proud to announce a distribution centre in Montreal, in collaboration with the SQDC and Metro Supply Chain Group, to serve the adult-use cannabis market,” said Sonia Isabel, HEXO’s Vice-President of Sales. “Being invited to collaborate on this distribution centre speaks to our proven reputation for exceptional customer service and order fulfillment.”

This is HEXO’s third Quebec facility following the recent lease of office space in downtown Hull and its long established 143-acre campus in Masson-Angers demonstrating HEXO’s deep commitment to and involvement in the province of Quebec.

“We’re pleased to have been selected by HEXO and the SQDC to bring our experience in distribution and e-commerce processing to this venture,” said Daniel Smedo, Metro’s Vice-President of Operations. “We look forward to working with all parties involved to deliver the systems and fulfillment expertise to ensure the success of this exciting new enterprise.”

“Metro will always have its roots in Quebec,” added Metro CEO and Founder, Chiko Nanji, who started the company with a single warehouse in the province in 1974. “It’s very meaningful for us to be working as a partner with the SQDC and HEXO, another Quebec company.”

The most recent agreement with SQDC combines Metro’s extensive warehousing and distribution efficiencies with HEXO’s cannabis production and control expertise. Together, HEXO and Metro will combine forces to service the direct-to-consumer (e-commerce) cannabis fulfillment needs for Quebec.

About HEXO

HEXO creates and distributes innovative, easy-to-use and easy-to-understand products to serve the Canadian cannabis market. One of the country’s lowest-cost producers, HEXO is rapidly increasing its production capacity in the lead up to the adult-use cannabis market. The Company currently operates with over 310,000 sq. ft. of production capacity with construction on another 1,000,000 sq. ft. expansion set to be complete by year end. HEXO will serve the adult-use market under the HEXO brand, while continuing to serve its medical cannabis clients through the well-known Hydropothecary brand.  

Investor Relations:
Jennifer Smith
Senior Manager of Investor Relations
1-866-438-8429
invest@HEXO.com
www.THCX.com

Media Relations:
Sarah Brown
sarah.brown@hexo.com

Director
Adam Miron
819-639-5498 

Hexo2.jpg

Source: HEXO Corp.

2018 GlobeNewswire, Inc., source Press Releases

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Financials (CAD)
Sales 2019 59,4 M
EBIT 2019 -47,1 M
Net income 2019 -36,4 M
Finance 2019 171 M
Yield 2019 -
P/E ratio 2019 -29,8x
P/E ratio 2020 41,9x
EV / Sales2019 20,4x
EV / Sales2020 3,75x
Capitalization 1 385 M
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Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 10,66  CAD
Last Close Price 5,39  CAD
Spread / Highest target 160%
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NameTitle
Sébastien St. Louis President, Chief Executive Officer & Director
Ed M. Chaplin Chief Financial Officer
Michael Munzar Director & Medical Director
Adam Miron Director & Chief Brand Officer
Jason G. Ewart Independent Director
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