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Cannabis company Hexo reports $20.7M Q3 loss, revenue edges higher


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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Hexo strikes $925M deal to buy country's largest privately held pot producer


In a move that’s expected to catapult it into top spot among Canadian recreational cannabis producers, Ottawa’s Hexo Corp. has agreed to acquire Toronto-based Redecan for $925 million.
Hexo said Friday that it will pay $400 million in cash and $525 million in Hexo shares valued at $7.53 per share.
The deal for the southern Ontario company, the country’s largest privately held pot producer, will increase Hexo’s share in the competitive cannabis market and lay the groundwork for global expansion, CEO Sebastien St-Louis told analysts.
“A few years ago, Hexo set a course to become one of the top three cannabis players in the Canadian adult-use market,” St-Louis said. “We’ve achieved and exceeded this objective. Today, we’ve positioned Hexo as No. 1. It’s a monumental achievement.” ....

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