Hexo reported a first-quarter loss of $62.4M, up from $12.8M year over year, while net revenues were $14.5M, up from $5.7M last year.
The Star, MJ Biz
- A Nasdaq analyst blamed sector underperformance on Quebec and Ontario’s “terrible […] execution concerning the licensing process.” Nasdaq
Amazingly, Hexo reported it would sell the REC it grew in unlicensed rooms. The Deep Dive wrote, “How this is up to the company, and not the regulator, is anyone’s guess.”
Twitter—Betting Bruiser, The Deep Dive
Quick Hits
- US cannabis compliance tech company Akerna will acquire Ample Organics for $60M in cash ($7.5M) and stock ($42.5M, plus additional $10M consideration). Only they’re not going to hold a conference call about the deal until January 7.
NewsWire, Twitter—David George-Cosh - 48North‘s outdoor grow yielded product at $0.25 per gram, far beneath the $2 average cost of growing indoors. But is the quality of outdoor flower good enough? Opinions differ.
Global News
