Hexo Corp. Sells Niagara Falls Cannabis Facility for $10.25 Million

Article by CBC News

Hamilton Hexo Corp. sells Niagara Falls cannabis facility for $10.25 million Social Sharing Cannabis plants are seen during a tour of a Hexo Corp. production facility in 2018. (Adrian Wyld)

Hexo Corp. says it has sold its facility in Niagara Falls, Ont., for $10.25 million to an undisclosed buyer.

The cannabis company announced in March plans to list the facility after reviewing its cultivation assets.

Hexo determined that it no longer expected to restart operations, which it halted in November 2019, due to an excess of cultivation capacity in the market, forecasted demand for cannabis products and expected market development.

The sale of the Niagara facility included land and greenhouse facilities, as well as certain equipment.

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