Eyeing No. 1 market share
“At the advent of legalization, we articulated a plan to become a top-three cannabis player in the Canadian adult-use market,” CEO Sebastien St-Louis said in a statement.
“With the acquisition of Zenabis and the announcements of intent to acquire 48North and Redecan, we are on the verge of surpassing that objective to become the No. 1 licensed producer by recreational market share.”
The Redecan deal will give Hexo a 17 per cent market share, followed by Tilray with 15.5 per cent, Smiths Falls-based Canopy Growth at 14 per cent and Aurora Cannabis at 6.5 per cent, Desjardins Securities analyst John Chu said recently in a note to investors.
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Canadians net worth surges on housing but renters left behind
Erik Hertzberg, Bloomberg News VIDEO SIGN OUT
The pandemic real-estate boom has made some Canadians richer, while others languish.
The net worth of the nationâs households increased by about $770 billion (US$633 billion) in the first three months of 2021, a record 6 per cent gain, to $13.7 trillion, Statistics Canada said in a report Friday. Since the start of 2020, that figure has increased by more than $2 trillion, largely thanks to rising home prices.
But the data also show that windfalls are going largely to homeowners and older Canadians. Households that own their home accounted for almost all of the gains in the first quarter $730 billion. The wealth of renters was up just $43 billion. That disparity also comes as rising home values make owning increasingly out of reach for many Canadians.