Hexo Corp (NASDAQ: HEXO) has offered an update regarding the execution of its current integration plan after the recent acquisition of Zenabis Global Inc., 48North Cannabis Corp, and Redcan. Following the completion of the acquisitions, the company is now a leader in the recreational segment
Hexo to decommission three production facilities
In the months to come, the company will stop operations at three production facilities to consolidate product cultivation, production, and supply at its main facilities. HEXO will decommission the Kirkland Lake, Ontario facility, acquired as part of the 48North transaction, and the facility in Brantford, Ontario, which was purchased through the 48North transaction. The decommissioning in both facilities will be effective on January 31, 2022. Also, the company decommissioned the plant in Stellarton, Nova Scotia, acquired through the acquisition of Zenabis effective February 28, 2022. Notably, these facilities are unimportant to the company’s integrated operations.
Hexo CEO Scott Cooper said, “As part of the integration planning process, we completed a comprehensive evaluation of all HEXO facilities to review their capabilities, capacity, and efficiency, and made the decision to centralize operations at our core facilities. This decision is key to achieving our immediate priority of integrating our recent acquisitions to drive growth and profitability through the commercialization of cannabis consumer packaged goods products. We are confident that our core sites, combined with strategic partnerships, will ensure sufficient supply of high-quality cannabis to meet demand.”
Hexo working with staff to reduce decommissioning impact
Cooper continued, “This was a very difficult decision, but it is a key component of our integration plan, and one that we believe best positions HEXO for continued growth. I would like to thank all of the employees at Kirkland Lake, Brantford and Stellarton for their efforts, dedication and professionalism in helping build HEXO.”
The company is working with staff to minimize the impact of the sites’ decommissioning. This includes moving employees who accept positions at one of HEXO’s core facilities and assisting those who are unable to relocate in their job search. However, this decision will have an impact on approximately 155 jobs.
Neptune Wellness Solution Inc. (NASDAQ: NEPT) Launches Mood Ring Branded Vape Products and Appointment of Investor Relations VP
Neptune Wellness Solution Inc. (NASDAQ: NEPT) has launched Mood Ring branded vape products in Alberta, British Columbia, and Ontario.
Neptune launches Jack Flash and Pure Kush products in BC and Alberta
The company’s leading cannabis brand, Mood Ring, has unveiled Jack Flash and Pure Kush vape products in Alberta, British Columbia, and Ontario. Notably, vapes offer a huge market opportunity within Mood Ring’s varied product line of high-quality cannabis flower, CBD and THC oils and capsules, and hashish products. Mood Ring branded items are expected to be released across Neptune’s licensed Canadian footprint in the coming year.
Neptune CEO Michael Cammarata said, “Demand for vapes continues to grow across Canadian provinces, making it the third largest category of cannabis products by sales in Canada1. Following the success of our other product launches to-date and scalable vape production, we anticipate significant revenue contribution from vapes over the next several years.”
Cammarata added, “Jack Flash and Pure Kush 510 thread cartridges feature two special strains that are produced using all-natural materials, which enable us to deliver a differentiated product from both an experience and sustainability perspective. This initial launch of vape products is the next step in our strategy of transforming our cannabis business from a slow-growth, low margin extraction business to a high growth, higher margin branded CPG business.”
It is vital to note that the company produces Moon Ring’s vapes sustainably with mouthpieces that are biodegradable and produced from first to market hemp plastic and low-energy-use extraction employing Neptune’s patented process. In addition, part of the proceeds from Mood Ring products sales will be put into planting trees through the collaboration with One Tree Planted.
Morry Brown appointed Neptune VP investor relations.
The company also announced the appointment of Morry Brown as VP of Investor relations from November 29, 2021. Brown has massive experience in investor relations and capital markets, having worked in several companies.
Cammarata said, “Morry brings extensive experience in investor relations and capital markets and is a valuable addition to the Neptune team.”
Greenlane Holdings Inc. (NASDAQ: GNLN) Announce Launch of Eyce ORTAFLEX Spoon Pipe
Greenlane Holdings Inc. (NASDAQ: GNLN) has announced the latest Eyce ORAFLEX spoon pipe launch. This is Eyce’s maiden innovation introduced in the patented ORAFLEX, offering durability, hand-painted features, and eye-catching aesthetics.
ORAFLEX made up of two platinum-cured silicone layers
Two layers of platinum-cured silicone make up the ORAFLEX spoon pipe. When combined with the hand-crafted interior layer with the ergonomic spoon shape, the glossy exterior layer resembles the aesthetic of most consumers’ favorite hand-blown glass pipes. The ORAFLEX spoon pipe has a detachable borosilicate glass bowl that keeps the flavor of the flower fresh. It is available in 20 colors and design options to fit any taste.
Greenlane CEO Nick Kovacevich stated, “With the release of the ORAFLEX™ spoon pipe, Greenlane continues to prove that innovation is always at the forefront of our work. Consumers can use the pipe confidently, secure in the knowledge that it will be safe from breakage while still keeping up the ever-important flavor of their herbs. We are committed to pushing the boundaries on smoking accessories and we are thrilled to bring this new option to our customers. Additionally, the utility patent embodied by ORAFLEX™ is an exciting addition to our robust and rapidly growing portfolio of intellectual property that enables Greenlane to deliver differentiated products.”
ORAFLEX is a new smoking accessory form Eyce
Eyce Brand General Manager Charles Hoch said, “When the Eyce team and I first created our brand, we really created a new category of top-tier smoking accessories. Our brand is a leader in premium silicone smoking products and the ORAFLEX™ spoon is only the start of a new, innovative series by Eyce.”
Bruce Hoch, Eyce Brand’s Engineering Director, added, “Since Charles and I founded Eyce in 2013, we have sold over one million specialty products to our customers. Joining the Greenlane team this year has only bolstered this mission and allowed Eyce to scale beyond what we could imagine. This new series is a testament to the incredible collaboration and creativity of the Eyce Brand team at Greenlane.”
Gibraltar Industries Inc. (NASDAQ: ROCK) Is Unifying Its Solar Energy Brands Under Terrasmart
Gibraltar Industries Inc.’s (NASDAQ: ROCK) four brands of SolarBOS, RBI Solar, TerraSmart, and Sunfig have announced that they will unify under a joint brand of Terrasmart to offer enhanced customer experience via integrated services and product lines.
Terrasmart to offer smart etch and solar solution optimizing returns
The new Terrasmart will offer exceptional solar and smart tech solutions through the project lifecycle to maximize returns and alleviate risks for solar projects of any type, size, or location, combining the four businesses’ history, experience, and strengths. As a result, Terrasmart is ready to propel advancements for the utility PV sector, making solar into a lucrative and accessible venture, with a combined generation capacity of 19 GW in 4,600 projects.
Terrasmart president Ed McKiernan said, “Our mission is to power our people, partners, and the world forward. The drive behind the new Terrasmart is to forge powerful connections, engineer solutions, and create advantages that deliver stronger outcomes for our customers’ projects and portfolios.”
The renewable energy brands Gibraltar is switching to Terrasmart include custom-designed and engineered stack racking systems, and canopy and roofing structures, are all available from RBI Solar, SolarBOS electric balance systems, and Sunfig, a powerful project optimization tool that can quickly simulate hundreds of layouts, financial situations and performance goals. Lastly, the company will switch TerraSmart, a unique ground-screw base, fixed-tilt and track stacking systems, and in-house civil engineering and installation services.
Merging projects to create a comprehensive solar solution
McKiernan added, “By merging our strengths to create a truly comprehensive solar project solution—from early-stage project optimization to design and engineering through to installation and real-time performance monitoring—we can better serve the growing utility, commercial & industrial, and community markets, helping make solar energy more profitable and accessible.”
Customers should expect the company to continue to expand on its reputation for consistent execution, joint collaborations, and industry-leading goods and services. In addition, the new Terrasmart will give an all-inclusive project experience and top solutions in various markets through the combination of technical skills, strengths, and traditions of the four brands.