Quebec’s cannabis producer ROSE LifeScience Inc., a subsidiary of Village Farms International (Nasdaq: VFF), will be commercializing and distributing HEXO Corp’s (TSX: HEXO) portfolio of cannabis grown in the province.
ROSE announced the new agreement on Tuesday and believes it will be able to help HEXO to establish the stature of its product portfolio in Quebec produced from the company’s state-of-the-art facilities in Masson-Angers.
HEXO’s CEO Charlie Bowman said that his company will benefit from the knowledge of ROSE, thereby strengthening its presence in Quebec and augmenting its distribution within the province.
“We welcome HEXO to our portfolio of partnerships which, in addition to our exclusive partnership with Tilray Brands, Inc. (TSX: TLRY) includes Entourage Health Corp. (TSX-V: ENTG), The Flowr Corporation, HYTN Innovations (CSE: HYTN), Cann Social Tonic, Final Bell and numerous Québec-based craft suppliers,” said Davide Zaffino, CEO and President of ROSE LifeScience.
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Tilray announced that it would be acquiring HEXO in April for $75 million and also partnered with Germany’s Cansativa Group to distribute cannabis in the Czech Republic. HEXO runs three major cannabis cultivation operations in Ontario and Quebec.
ROSE helped launched Entourage’s cannabis-infused iced tea beverage “TeaPot” in the Quebec market last month and entered the Ontario market last June. Its owner Village Farms began shipping its Pure Sunfarms cannabis to Israel at the beginning of this year.
Entourage launched a new line of CBD-infused chewing gum for medical patients at the end of March.
HEXO’s shares rose by 1.63 per cent Wednesday to US$1.25 and Village Farms stock dropped by 1.64 per cent to US$0.73 on the Nasdaq Exchange.
rowan@mugglehead.com
