Hexo

Charlie Bowman has been appointed acting president and CEO, effective immediately, replacing Scott Cooper, Gatineau cannabis firm announced Friday.
Veteran executive replaces Erin Crowe, who left the Kanata software firm earlier this year to return to the Ottawa Senators as senior vice-president and chief financial officer.
Dave Schlosser's optimism comes amid the lifting of mask mandates, capacity restrictions and other health measures that cut into gatherings where consumers might have kicked back with a Truss product.
Hexo says the Truss Beverage operations – a joint venture with Molson Coors Canada – are not affected by this change and will continue to operate out of the Belleville plant.
Cannabis company Tilray Brands Inc. has signed a definitive agreement in its proposed plan with rival Hexo Corp. first announced last month.
Hexo Corp. reported a net loss of $690.3 million as it recorded $616 million in one-time impairment charges in its latest quarter as it worked to turn around the cannabis business.
Under the agreement announced Thursday, Leamington-based Tilray will acquire up to US$211 million of senior secured convertible notes that were issued by Gatineau-based Hexo.
Adam Arviv, who owns about two per cent of Hexo’s shares, says he plans to nominate five new directors – including himself – to the cannabis firm's eight-person board.
Gatineau-based firm became non-compliant when its closing bid price for common shares listed on the Nasdaq dropped below US$1 for 30 consecutive trading days.
Cannabis firm says its plan, which was unveiled last month after its debts mounted and its co-founder left the business, will deliver about $175 million in cash over the next two fiscal years.