In a recent interview with BNN Bloomberg’s Andrew Bell, Hexo Corp. Chief Executive Officer Sebastien St-Louis came back on the last quarter which did not live up to expectations by recalling the immense path made by the company for 1 year having passed from $5 milllions to $58 millions of rev’s and 300 to 1000 employees
Sebastien St-Louis believes the stock is oversold and is a good opportunity for investors because the story behind HEXO is still the same and he believes they are best positioned to be in the top 3 global cannabis companies.
The CEO of HEXO claims to have the most market share in Quebec with more than 33% and will focus in the coming months on its goal of having more than 20% market share in the rest of Canada.
As for the United States, St-Louis says it is very active to bring their “POWER BY HEXO” technology to market with Molson Coors and other partners with whom they are currently discussing.
Fortune 500 partners
When asked by Andrew Bell that they have not yet signed another partner, St-Louis said:
“4 cannabis companie on the planet deliver a fortune 500 partners and HEXO is one of them. We certainly looking foward to delivers the next one. Stay Tuned “
St-Louis also mentioned that they did not use the 20,000kg distribution clause at the SQDC for the first year due to the slow deployment of the stores and the fact that they want to build a long-term relationship with the SQDC with which they have a 5 year contract.
HEXO delivered approximately 10,000kg to the SQDC for the first year.
St Louis also commented on the possibility of being replaced from his position as CEO:
“The board always has that option given the company’s performance. The board has indicated they want me to continue to execute on that vision and I serve at the pleasure at the board and shareholders. I don’t feel that my work here is done by any stretch.”– St-Louis said.
For St-Louis the situation is clear, Hexo is returning to its roots as a cost-conscious cannabis company as it seeks to emerge from the current group of Canadian operators to become one of the top three producers globally.
Hexo Corp trades on the TSX and the NYSE under the symbol HEXO
This article is written and published by The Cannabis Stock
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