HEXO Corp. announced that Charlie Bowman has been appointed the company's acting President effective from April 29, 2022. Mr. Bowman will move into a permanent role upon the successful completion of Health Canada's security clearance process for key personnel, which has been initiated.

Concurrently, Scott Cooper is stepping down from his role as HEXO's President. Mr. Bowman, who previously served as HEXO's Acting Chief Operating Officer and General Manager of HEXO USA, brings a wealth of global leadership experience in spanning the past two decades. After resetting operations as Acting COO, he is well positioned to guide HEXO towards becoming cash flow positive.

The Company also announced the departure of Acting Chief Financial Officer Curtis Solsvig and the appointment of Julius Ivancsits as Acting Chief Financial Officer, effective May 16, 2022. Mr. Ivancsits will move into a permanent role upon the successful completion of Health Canada's security clearance process for key personnel, which has been initiated. Mr. Ivancsits brings a wealth of finance leadership experience and will oversee the Company's Finance and Accounting organization.

He will play a key role in executing HEXO's strategy to drive profitable growth and enhance shareholder value. Mr. Ivancsits has extensive international experience in manufacturing with both Private Equity and Family Office sponsors and is well versed in corporate turnarounds. Prior to joining HEXO, he served as CFO at Goba Capital, Alpha Measurement Solutions, and Be Green Packaging along with long multiple roles at CPKelco with progressively increasing experience.

Mr. Solsvig will remain with the Company in an advisory role through to May 31, 2022, in order to facilitate a smooth transition. HEXO would like to thank Mr. Solsvig for his leadership steering the Company through this defining time.