HEXO - HEXO STOCK NEWS

HEXO Corp. (TSX: HEXO; NASDAQ: HEXO) has announced a refreshed Board of Directors, expressing gratitude to outgoing members John Bell, Adam Miron, Emilio Imbriglio, and Vincent Quan. The company recognized Bell for his leadership and Miron for his pivotal role in shaping the Canadian cannabis industry. HEXO serves the Canadian recreational and medical markets and has gained market share through recent acquisitions, including Redecan and 48North. The company continues to develop a diverse brand portfolio while also expanding into international markets.

HEXO Corp has announced a restructure of its board of directors, reducing its size to seven members. Mark Attanasio and Rob Godfrey have been nominated as new directors, with Arviv retaining the right to nominate an eighth member post the shareholder meeting on March 8, 2022. John Bell has stepped down as Chair, and HEXO emphasizes its commitment to navigating the evolving cannabis market. The changes aim to fast-track the company's journey to becoming cash flow positive, as indicated by CEO Scott Cooper.

HEXO Corp (TSX: HEXO; NASDAQ: HEXO) announced updates on its strategic plan, 'The Path Forward', aimed at becoming Canada's leading cannabis company. The company plans to cut SG&A expenses by 30% by Fiscal Year End 2023, which includes a reduction of 180 positions, yielding annual savings of approximately $15 million. The initiative is expected to generate incremental cash flow of about $175 million over two years through cost reductions and revenue growth. HEXO aims to be cash flow positive from operations and maintain its market leadership in the recreational cannabis sector.

HEXO Corp (HEXO) announced on January 31, 2022, that it received a notification from Nasdaq for failing to meet the minimum bid price requirement of US$1.00 per share for 30 consecutive trading days. The notification does not immediately affect the shares' listing and HEXO has until July 25, 2022, to regain compliance. If the share price exceeds US$1.00 for at least 10 consecutive days during this period, compliance will be achieved. HEXO, a leading cannabis producer in Canada, operates various brands and serves markets in Canada and abroad.

HEXO Corp. (TSX: HEXO; NASDAQ: HEXO) has updated its strategic plan, "The Path Forward," to strengthen its position as Canada's leading cannabis company by market share. The plan includes new product launches and the expansion of its brands, particularly Redecan and Latitude. Redecan has entered the edible cannabis market with the launch of Redebles, while expanding sales into new provinces. HEXO maintains the top market share across multiple categories in Canada, including pre-rolls and beverages, aiming for sustainable revenue growth.

HEXO Corp. has updated its strategic plan, "The Path Forward," aimed at becoming the leading cannabis company in Canada by market share. The company plans to achieve cash flow positivity through cost reductions and organic growth, targeting $175 million in incremental cash flow over fiscal 2022 and 2023. Key initiatives include a 30% reduction in SG&A expenses and optimizing production savings of $30 million. Also, HEXO sold its 25% stake in Belleville Complex for $10.1 million to reduce debt, continuing to lease the facility. Updates will follow as the plan progresses.

HEXO Corp has appointed William Todd Montour to its Board of Directors following Jason Ewart's resignation. Montour, co-founder of Redecan, brings substantial experience in cannabis operations and commercialization. Additionally, Curtis Solsvig has been named acting CFO, succeeding Trent MacDonald. Solsvig has over 30 years of financial leadership experience and will guide HEXO's financial team during the search for a permanent CFO. These appointments aim to strengthen HEXO's leadership as it navigates its next growth phase.

HEXO Corp (NASDAQ: HEXO) announced its fiscal 2021 annual meeting of shareholders to be held on March 8, 2022, with a record date set for February 4, 2022. The meeting follows an extension from the Toronto Stock Exchange, allowing HEXO to conduct the meeting after January 31, 2022. The company aims to present several initiatives and plans before the meeting, allowing shareholders to consider these matters before voting. HEXO continues to enhance its position in the cannabis market, particularly following the acquisitions of Redecan and 48North.

HEXO Corp reported Q1'22 total net revenue of $50.2 million, a 29% increase from Q4'21, and a 70% year-over-year growth. The company aims to achieve cash flow positivity in the next four quarters through its strategic plan, The Path Forward, which focuses on strengthening the balance sheet and enhancing operations. Significant contributions to revenue came from recent acquisitions, totaling $14.6 million. Despite the positive revenue growth, HEXO faced a net loss of $116.9 million due to high operating expenses and impairments.