Cannabis plants are seen during a tour of a Hexo Corp. production facility, Thursday, October 11, 2018 in Masson Angers, Quebec. THE CANADIAN PRESS/Adrian Wyld
November 09, 2021 - 8:01 AM
OTTAWA - Hexo Corp. says it will close three recently acquired facilities and layoff about 155 workers as it works to streamline production.
The Ottawa-based cannabis company says it will shutter properties in Kirkland Lake and Brantford, Ont., that it acquired when it bought 48 North Cannabis Corp.
The company will also close a Stellarton, N.S., facility it picked up in its purchase of Zenabis Global Inc.
The Ontario closures are expected to be complete by Jan. 31, while the Nova Scotia property will be decommissioned by Feb. 28.
Hexo estimates 155 workers will be affected by the closures aimed at centralizing the company's cultivation, manufacturing and distribution operations.
The moves come less than a month after Scott Cooper was appointed chief executive after Hexo co-founder Sebastien St-Louis left the company during a strategic organization.
"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," Cooper said in a statement.
This report by The Canadian Press was first published Nov. 9, 2021.
Companies in this story: (TSX:HEXO)
News from © The Canadian Press, 2021