Hydropothecary Uplists On Toronto Exchange, Rebrands

The Hydropothecary Corporation (TSX-V:THCX) announced that it has received approval from the Toronto Stock Exchange to uplist from the TSX Venture Exchange to the regular Toronto Stock Exchange. The Canadian-based cannabis company will list its common shares and common share purchase warrants expiring January 30, 2020, on the TSX and begin trading on June 22.

The previous shares will be delisted from the Venture Exchange on a voluntary basis. The company will get to celebrate by ringing the bell at the opening of trading on Friday.

“Graduating to a major exchange such as the TSX demonstrates Hydropothecary’s growth and proven ability to execute,” said Sebastien St-Louis, Hydropothecary’s Chief Executive Officer and co-founder. “Since 2013, our company has demonstrated our continuous commitment to providing industry-leading, innovative products while never compromising the quality or consistency that we are known for. We are thrilled to represent this on the TSX.”

In addition to the uplisting,  the company is changing its corporate name from The Hydropothecary Corporation to HEXO Corp. In connection with the name change, it will need to call a special meeting of its shareholders to seek shareholder approval for the change of its corporate name.  As a result of the new company name, the shares will change the ticker and will trade under the symbols “HEXO” and “HEXO.WT” respectively.  The company had previously announced the launch of HEXO as its new brand for the adult-use cannabis market while continuing to use the Hydropothecary brand for the medical cannabis market.

Just last week, Hydropothecary announced that the first two zones of its 250,000 sq. ft. greenhouse expansion had received its licenses from Health Canada, under the Access to Cannabis for Medical Purposes Regulations which allows the Company to transfer plants in immediately. This, along with the 1 million sq. ft. expansion set to be complete by year-end will bring total production capacity up to 1.3 million sq. ft. and will allow Hydropothecary to produce 108,000 kgs of dried cannabis annually.

“Our cultivation team has been preparing for this expansion for months and currently have over 6000 plants rooted and ready to be transferred into this newly licensed facility today, with many more in production,” said Hydropothecary Master Grower, Agnes Kwasniewska, Canada’s first female Master Grower.

Hydropothecary also terminated its market-making agreement with MJM Markets and Consulting.

Debra Borchardt

Debra Borchardt is the CEO, Co-Founder, and Editor-In-Chief of GMR. She has covered the cannabis industry for several years at Forbes, Seeking Alpha and TheStreet. Prior to becoming a financial journalist, Debra was a Vice President at Bear Stearns where she held a Series 7 and Registered Investment Advisor license. Debra has a Masters degree in Business Journalism from New York University.


Leave a Reply

Your email address will not be published. Required fields are marked *

Don't Miss This Week's Groundbreaking News

Join the thousands of subscribers who stay informed with GMR's exclusive news briefs delivered directly to your inbox every Friday afternoon.

We respect your privacy. See our privacy policy.


About Us

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


READ MORE



Recent Tweets

@GreenMarketRpt – 3 days

Happy Friday! Marijuana Money July 23, 2021

@GreenMarketRpt – 5 days

RT : I spoke with to discuss cannabis stock options worth consideration, and why U.S. MSOs pique his interest…

Back to Top