Investor Ideas #Potcasts
575, #Cannabis News and #Stocks on the Move -Interview with CEO of HEXO Corp.
(TSX: $HEXO.TO) (NYSE: $HEXO)
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:
https://www.investorideas.com/Audio/Podcasts/2021/061421-StocksToWatch.mp3
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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® 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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