HEXO (NYSEAMERICAN:HEXO,TSX:HEXO) released its financial report for its Q3 for the fiscal 2019.
As quoted in the press release:
“The past five years have seen the cannabis industry landscape, and our company, evolve significantly,” said HEXO CEO and co-founder Sebastien St-Louis. “This evolution continues at a staggering pace, as HEXO ramps up production effort and significantly increases its inventory, further contributing to our capacity to meet the demand and to reach our sales and revenue targets. Our Innovation, Development and Engineering team has grown significantly ahead of the legalization of edibles and now includes 25 professionals with PhDs and extensive experience in major consumer packaged goods companies.
“This quarter saw HEXO remain on-track as it continues ramping up to $400 million in revenue in fiscal 2020, including completing the first harvest in our 1 million sq. ft. Expansion and preparing to fund our ongoing expansion projects and innovation initiatives by entering a $65 million syndicated credit facility.”