Following a recent acquisition spree, HEXO Corp. (TSX:HEXO) (NASDAQ:HEXO), a consumer packaged goods cannabis company, announced in December that it was streamlining its operations to core facilities as part of its ongoing integration plan. HEXO plans to close two 48North plants in Ontario at the end of January. It also will decommission the Zenabis facility in Nova Scotia by the end of February. The closures will affect about 155 employees, who the company will relocate if they take jobs at another HEXO facility.
The company recently provided an update on its strategic plan, designed to solidify HEXO’s position as the number one cannabis company in Canada by recreational market share, with the goal of becoming the first amongst its peers to be cash flow positive from operations.
