Hexo Corp. entered purchase and sale agreements for a 50,000-square-foot cannabis production facility in northern Colorado, marking a step forward for the Canadian producer’s U.S. ambitions.
Hexo’s first facility in the United States involves a wholly owned U.S. subsidiary, according to a Friday news release.
The facility “is zoned for production of a full range of cannabinoids and offers multiple operational capabilities,” said Hexo, which is headquartered in Ottawa, Ontario.
It “will provide Hexo with the necessary infrastructure to begin production and enable the company to continue expanding our joint venture with Molson Coors to create Truss CBD-infused beverages, while also creating the necessary capacity to support future, non-beverage CPG partnerships,” Hexo CEO Sebastian St. Louis said in a statement.
Hexo’s news release offered no details about the cost of the facility or in which city it will be located.