Delta, Kelowna, BC – June 14, 2021 (Investorideas.com Newswire) www.Investorideas.com, a global news source covering leading sectors including marijuana and hemp stocks and its potcast site, www.potcasts.ca release today’s podcast edition of cannabis news and stocks to watch plus insight from thought leaders and experts.
Listen to the podcast:
Investor Ideas Potcasts #575, Cannabis News and Stocks on the Move; Interview with CEO of HEXO Corp. (TSX: HEXO) (NYSE: HEXO)
Today’s podcast overview/transcript:
Good afternoon and welcome to another episode of Investorideas.com “Potcast” featuring cannabis news, stocks to watch as well as insights from thought leaders and experts.
In today’s podcast Investorideas interviews Sebastien St- Louis, CEO and Co-Founder of HEXO Corp. (TSX: HEXO) (NYSE: HEXO), where we discussed the company’s recent acquisition streak, the company’s goals for expansion into the US as well as their aim to be carbon neutral by September of this year.
Discussing the last few months of acquisitions and growth St Louis commented, “we’re very proud of all the work we’ve done at Hexo. We were the fastest growing public company in the space, 94% growth year over year in our Q2, but that unfortunately wasn’t enough. We had set an objective for ourselves to be top 2 in Canada, and that was about three years ago. On our own we’ve made the top 3 by acquiring Zenabis Global, then we came across the most important acquisition that was left to do in Canada which was Redecan. Redecan was the largest privately run LP in Canada and they had even outperformed Hexo from a growth perspective, with 169% growth year over year. Now with the combination of Hexo and Redecann, we are the number one LP in the country by market share, with a leading 17% share.”
HEXO announced the acquisition of Redecan back in May for a purchase price of $925 million payable in cash and through the issuance of common shares of HEXO and subject to certain customary adjustments.
St Louis continued, “According to Brightfield Research, Redecan has the top brand in Canada from a consumer repeat purchase perspective. They’ve done an absolutely phenomenal job of cultivating high quality products and bringing that to the Ontario market as well as the rest of Canada, outside of Quebec. So there’s a really beautiful overlap with Hexo’s strategy of being first in Quebec looking to expand into the rest of Canada. By putting these two together we are now the number one cannabis company in all four core markets; Quebec, Ontario, BC and Alberta. Redecan has also done a gorgeous job on their technology. Their preroll technology is second to none. They’ve taken years of experience from the tobacco industry and have really perfected the ability to bring a marijuana cigarette to life. They were #1 in the preroll category, in the oil category and in the gel cap category. When we looked at their portfolio it was great because we weren’t #1 in any of those categories, we were #1 in beverages and Hash, but now when you put the two companies together, we’re #1 in all of those categories. When you combine that with some of the other products from the other acquisitions like Zenabis and 48 North, it’s a truly remarkable product portfolio that really sets us up for US entry.”
St Louis went on to discuss their CBD beverage line in the US as well as their future plans for expanding into other US states and working with other CPG companies in the future.
The company also recently announced their commitment to offsetting the Company’s operational carbon emissions and the personal emissions of all 1,200 employees*, making HEXO 100% carbon neutral from September 2021 onwards. The Company is also committing to offset the plastic used in their pouch packaging through Plastic Bank(R) in partnership with Dymapak, HEXO’s primary packaging supplier. These concrete actions highlight the Company’s early steps towards a long-term commitment to leading the cannabis industry on Environmental, Social, and Governance (ESG) action.
“We have always taken our responsibility for sustainability seriously. Now, as we are on the verge of becoming the top Canadian LP by recreational market share and continuing down the path towards top three globally, it’s more important than ever to take meaningful action to protect our planet – and this is just the start,” said HEXO CEO and co-founder Sebastien St-Louis. “We are challenging ourselves and the rest of the industry to do better, so in addition to becoming carbon neutral by offsetting our operational emissions, we feel it is our obligation to offset our employees’ emissions as well.”
Through a partnership with Offsetters, in support of the Great Bear Forest Project, HEXO will be measuring and offsetting the Company’s corporate carbon emissions starting with its 2020 calendar year, making HEXO 100% carbon neutral by September 2021, as well as offsetting their employees’ personal emissions*. The Great Bear Forest Carbon Project reduces carbon emissions by protecting forests previously designated, sanctioned or approved for commercial logging. Carbon finance supports the local First Nations communities by generating stewardship jobs protecting the Great Bear Rainforest – the largest intact coastal temperate rainforest remaining in the world – and offsets the equivalent of one million tonnes of carbon dioxide each year.
In conjunction with HEXO’s primary packaging supplier Dymapak and its partnership with Plastic Bank, the Company has offset 63,000 kilograms of plastic in 2021 – the equivalent of over 3.15 million plastic bottles. HEXO will continue to counteract the use of all plastic in its packaging. Plastic Bank builds ethical recycling ecosystems in coastal communities and reprocesses the materials for reintroduction into the global manufacturing supply chain. Collectors receive a premium for the materials they collect to help them provide basic family necessities such as groceries, school tuition and health insurance.
“Ocean plastic is a critical issue with increasing challenges,” said Ross Kirsh, CEO at Dymapak. “Environmental consciousness has never been more important and we’re proud to partner with Plastic Bank and HEXO to mitigate the impact of child resistant bags and other plastic packaging. It’s our hope that other businesses will turn interest into action by committing to plastic neutrality.”
Offsetting HEXO’s carbon emissions, the emissions of their employees, and counteracting the use of plastic packaging are among the latest steps in the Company’s company-wide mission to build a business that balances profit, people, and planet. HEXO will monitor and publicly report on its greenhouse gas emissions, carbon neutrality, and its continued efforts to improve sustainability. This includes minimizing waste at facilities, moving towards a more virtual workforce, reducing carbon emissions at production facilities, as well as exploring new sustainable packaging materials that are more easily recyclable or biodegradable. The recent acquisition of Zenabis and planned acquisitions of 48North and Redecan also offer unique opportunities to integrate sustainable practices and grow the Company’s positive impact along with their business.
For more information on these efforts and how the Company continues to develop its ESG platform and stakeholder relations to make a positive impact on the communities in which it operates and globally, please visit https://www.hexocorp.com/environmental-social-governance.
St Louis also went on to discuss future plans for product launches in the US, his expectations surrounding the beverage sector of the cannabis industry as well as what his favorite products are under the HEXO umbrella of products (Mollo and Reddies)
To find out more about HEXO Corp. visit their website here.
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