TORONTO, May 24, 2018 (GLOBE NEWSWIRE) -- The Hydropothecary Corporation (TSXV:THCX) (“Hydropothecary” or “The Company”) today introduced HEXO, a new brand for the recreational adult-use cannabis market. The launch of this brand is taking place at the Lift Cannabis Expo in Toronto, Ontario.
The Company will continue to use its existing Hydropothecary brand for the medical cannabis market. Production of cannabis will continue for both brands at the Company’s expanding facilities located in Gatineau, Quebec.
“Legalization of recreational cannabis in Canada is an exciting time for our country as well as a once-in-a-generation public policy shift. HEXO is the right brand at the right time,” said Adam Miron, Hydropothecary’s co-founder and Chief Brand Officer.
“HEXO was created for Canadians who use recreational cannabis. HEXO will help bring people together to share enjoyable and life-affirming experiences, while breaking through the stigma that still surrounds cannabis and its users among some Canadians.”
Sharing the same focus on award-winning product innovation and high quality of cannabis, the two brands share the first letter H – representing the Hydropothecary family – while the new brand adds EXO, meaning outer or external. The new brand also signals the Company’s exploration of new horizons and servicing of customers from coast to coast by offering bold and innovative products.
According to co-founder and CEO, Sebastien St-Louis, the Company remains firmly focused on delivering the same excellence for which Hydropothecary is known. “Hydropothecary is, and will continue to be a great premium brand, but as we set our sights on becoming a global cannabis company, we've imagined something more. HEXO ushers in our house of brands strategy. Under HEXO, we will target specific value segments across price categories while continuing to deliver new and exciting products as we move ahead with market expansion across Canada and beyond.”
The Company is also pleased to announce that it has applied to the Toronto Stock Exchange (the “TSX”) to graduate from the TSX Venture Exchange and have its common shares listed on the TSX. Listing is subject to the approval of the TSX in accordance with its original listing requirements. TSX has not conditionally approved the Company’s listing application and there is no assurance that the TSX will approve the listing application.
About The Hydropothecary Corporation
The Hydropothecary Corporation is an authorized licensed producer and distributor of medical cannabis licensed by Health Canada under the Access to Cannabis for Medical Purposes Regulations. Hydropothecary creates award-winning innovative, easy to use and easy to understand products. Hydropothecary is rapidly increasing its production capacity in the lead-up to recreational adult-use cannabis. Headquartered in Quebec, Hydropothecary is one of the lowest-cost producers in the country.
This press release may contain forward-looking information that is based on certain assumptions and involves known and unknown risks and uncertainties and other factors that could cause actual events to differ materially from current assumptions and expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. A more complete discussion of the risks and uncertainties facing the Company appears in the Company’s Annual Information Form and continuous disclosure filings, which are available on SEDAR’s website at www.sedar.com. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements as a result of new information or future events, or for any other reason.
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