Article by Danielle Edwards, Investing News
Cannabis firm HEXO (NYSE:HEXO,TSX:HEXO) is coming forward with the revelation that it illegally grew cannabis in an unlicensed room in July.
After the markets closed on Friday (November 15), the Quebec-based cannabis producer informed investors that a section of one of its production facilities in Niagara, Ontario, was found to be inadequately licensed. This facility belongs to HEXO by way of its C$263 million Newstrike Brands acquisition.
Following the issue of a license for the facility in November 2018, the firm claims regulators did not indicate that a specific area, known as Block B, did not fall within the licensing segment, despite it being included as part of the original application.