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Hexo Corp
Symbol HEXO
Shares Issued 257,004,004
Close 2019-11-04 C$ 2.72
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Globe says Hexo price move foreshadows industry future

2019-11-04 08:04 ET - In the News

Also In the News (C-TRST) Canntrust Holdings Inc

The Globe and Mail reports in its Monday edition that federal and provincial governments should simplify excise taxes to help legal weed sell at black market prices. The Globe's guest columnist Michael Armstrong writes that Health Canada reports that the volume of dry cannabis sold rose 10 per cent, to 12,917 kilograms in August. Oil volumes climbed 14 per cent, to 11,705 litres. Oil's jump was largely owing to a rebound in the sale of medical weed, which had slid in the two previous months. The recovery might partly represent customers leaving CannTrust in July and finding new medical suppliers in August. The numbers show sales of recreational cannabis continuing to outpace medical purchases. Mr. Armstrong says as legalization's second year unfolds, the simplest way to increase legal cannabis market share is to boost retail access in the under-served Quebec and Ontario markets. Making legal weed more price-competitive with illicit weed is also a priority. Hexo recently started selling one product in Quebec stores for just $4.49 a gram including taxes. Mr. Armstrong says while Hexo's move might appear odd now, it probably represents the industry's future. Legal post is overpriced relative to illegal weed.

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