Canadian cannabis company Hexo cuts 200 jobs as Canadian market lags expectations
- Thread starter gb123
- Start date
Canadian cannabis company Hexo Corp. HEXO, -4.09% HEXO, -3.70% said Thursday it has cut 200 jobs as it works to adapt to a changing -- and smaller-than-expected -- Canadian cannabis market. The Gatineau, Quebec-based company said it had 822 employees at the end of its fiscal quarter in June, according to a regulatory filing. Hexo said the cuts include its chief manufacturing officer Arno Groll and chief marketing officer Nick Davies. "The actions taken this week are about rightsizing the organization to the revenue we expect to achieve in 2020," Chief Executive Sebastien St-Louis said in a statement. The news comes a day after the company said it was postponing the release of fourth-quarter earnings and that it would issue convertible bonds worth C$70 million ($53.5 million) in a private placement. The company issued a profit warning in early October and withdrew its 2020 guidance, saying the slower-than-expected rollout of stores in Canada following legalization and other structural issues had created a smaller-than-expected legal market. Shares slid 6% on the news and are down 26% in 2019,
cannadan
Well-Known Member
Of course the cream of the crop weed from hydro a-pot-cant-hary....how could they ever lose ......Profit warning really????????? on all those rich customers they had targeted in their business plans???? They wanted in the high twenty's per gram ....$28.50 +- if memory serves.....
in boutique glass bottles labelled morning /noon /evening or something like that....rofl lol
lol in another velvety container box, all stealthy black....lol
in boutique glass bottles labelled morning /noon /evening or something like that....rofl lol
lol in another velvety container box, all stealthy black....lol
tooktoomuch
Well-Known Member
hahahaha......Maybe if it is like some super cannabinoid resin from the future...otherwise....fuck off....
![LeDroit & iHeart Radio - Poissons morts de cause inconnue (2019-Jul-11) [480x270] .PNG](/data/attachments/3514/3514763-69b1d11ed0d33df2200f5e92e33c80cd.jpg)
Egzoset
Well-Known Member
Update:
[ https:// www.lapresse.ca/.../depart-abrupt-du-pdg-d-hexo.php ]
Départ abrupt du PDG d’Hexo (2021-Oct-18)
In short this French-written article, which came out just the next day after Justin's Cannabis Act 3rd anniversary (...), finally provides some hints about how Québec's green money gets pumped outside its provincial borders: e.g. via 3 installations in Ontario, 1 in New-Brunswick and even 1 in Colora/USA! ... Anyway co-founder of Hexo (formerly Hydropoticary until '18...) mister Sébastien St-Louis RESIGNED - already, claiming it's because of a need to « reorganize » strategically.
Good day, have fun!!
---
P.S.: Tonight the late TV news reported a radically different version while Google provided évidence the editorial illustations ain't always as fresh as the event itself...
![Sébastien St-Louis (from 2019 & 2021 articles...) [480x640] .PNG](/data/attachments/4114/4114432-6a60aac9f99424b57ff7ae1f679e7220.jpg)
Some more details:
[ https:// thecannabisstock.com/2019/05/11/hexo-the-ambitions-of-the-star-of-the-stock-exchange/ ]
Hexo: the ambitions of the star of the Stock Exchange (2019-May-11)
[ https:// obj.ca/article/local/hexo-ceo-st-louis-out-weeks-after-activist-investor-sounds-alarm ]
Hexo CEO St-Louis out weeks after activist investor sounds alarm (2021-Oct-18)
According to a Yahoo! Finance report, activist shareholder Adam Arviv blasted St-Louis’ leadership in a Sept. 26 letter to the board, citing “recent dilutive financings, the CEO's misalignment with shareholders, and a lack of basic business skills to lead.”
[ https:// mjbizdaily.com/hexo-ceo-st-louis-departs-cannabis-firm-amid-strategic-reorganization/ ]
Hexo CEO St. Louis departs cannabis firm amid sudden strategic reorganization (2021-Oct-18)
The spokesperson did not say why there was no interim CEO or whether St. Louis had been asked to resign by the board.
So... what i heard on TV last evening vs what i can find to read today still don't appear to match fully as it was clearly about Sébastien St-Louis getting fired because of some complain, though i simultaneously observe additional confusion around the resign of Donald Courtney which doesn't help much to clear the fog...
[ https:// www.lapresse.ca/.../depart-abrupt-du-pdg-d-hexo.php ]
Départ abrupt du PDG d’Hexo (2021-Oct-18)
In short this French-written article, which came out just the next day after Justin's Cannabis Act 3rd anniversary (...), finally provides some hints about how Québec's green money gets pumped outside its provincial borders: e.g. via 3 installations in Ontario, 1 in New-Brunswick and even 1 in Colora/USA! ... Anyway co-founder of Hexo (formerly Hydropoticary until '18...) mister Sébastien St-Louis RESIGNED - already, claiming it's because of a need to « reorganize » strategically.
Good day, have fun!!
---
P.S.: Tonight the late TV news reported a radically different version while Google provided évidence the editorial illustations ain't always as fresh as the event itself...
Some more details:
[ https:// thecannabisstock.com/2019/05/11/hexo-the-ambitions-of-the-star-of-the-stock-exchange/ ]
Hexo: the ambitions of the star of the Stock Exchange (2019-May-11)
[ https:// obj.ca/article/local/hexo-ceo-st-louis-out-weeks-after-activist-investor-sounds-alarm ]
Hexo CEO St-Louis out weeks after activist investor sounds alarm (2021-Oct-18)
According to a Yahoo! Finance report, activist shareholder Adam Arviv blasted St-Louis’ leadership in a Sept. 26 letter to the board, citing “recent dilutive financings, the CEO's misalignment with shareholders, and a lack of basic business skills to lead.”
[ https:// mjbizdaily.com/hexo-ceo-st-louis-departs-cannabis-firm-amid-strategic-reorganization/ ]
Hexo CEO St. Louis departs cannabis firm amid sudden strategic reorganization (2021-Oct-18)
The spokesperson did not say why there was no interim CEO or whether St. Louis had been asked to resign by the board.
So... what i heard on TV last evening vs what i can find to read today still don't appear to match fully as it was clearly about Sébastien St-Louis getting fired because of some complain, though i simultaneously observe additional confusion around the resign of Donald Courtney which doesn't help much to clear the fog...
Last edited:
Egzoset
Well-Known Member
Hexo taking a plunge:
M'well, that's alien/predator money language and hence quite too hard/annoying for me to even translate, but...
At least i figure loosing money in this peculiar case could only sound like good news anyway! E.G. the last part in the quote above appear to be about NOT knowing how to compete & gain "client" trust (so they'll do business with Hexo/Hydropothecary), aHummm...
Ultimately that must be us, the consumers. So...
Free advice here: lock the doors and close the books!!
... 
L’avenir d’Hexo mis en doute par son auditeur (2021-Oct-29)
« Ceux-ci m’aideront également à comprendre sur quel plan Hexo pourrait miser sur ses forces et dans quels secteurs nous pourrions avoir besoin d’augmenter nos capacités pour rivaliser et convaincre les clients de faire affaire avec nous. »
M'well, that's alien/predator money language and hence quite too hard/annoying for me to even translate, but...
At least i figure loosing money in this peculiar case could only sound like good news anyway! E.G. the last part in the quote above appear to be about NOT knowing how to compete & gain "client" trust (so they'll do business with Hexo/Hydropothecary), aHummm...
Ultimately that must be us, the consumers. So...
Free advice here: lock the doors and close the books!!
...
Egzoset
Well-Known Member
Salutations,
It seems the trending language is finally down to earh:
It sure seems rather odd considering mass-media finally focussed its attention on some acquaintance of Ontario's Hell Angels named Josh Hill (from Redecan) - a detail never bothering anyone before.
Will Hexo remain the 1 & ONLY large LP mandated to supply our SQdC "legal" (...) outlet stores?? None of the "Caisse de Dépôt & Placement", the "Fonds de Solidarité FTQ" and/or Legault appear ready to invest in local Québec-made cannabis.
Now lets try some retrospective. First Adam Miron and Sébastien St-Louis co-founded Hydropothecary just a couple years before the 2015 federal elections, the Québeker guy felt aiming for a "Fortune 500 company", not to mention this trade-name is a pumpous reference to pioneer Louis Hébert in Nouvelle-France... Meanwhile a myclobutanil-for-medical mini-scandal resurfaced after it was revealed to have been secretly discussed (with other canadian peers) by Québec's *ONLY* LP - e.g. Hydropothecary/Hexo exactly.
Mass-media didn't care much to explain how myclobutanil proved "convenient", e.g. the user's own fire turning it into hydrogen cyanide (HCN): a Level-3 poison of the Chemical Weapons Convention masked by one's own consumption method!!
Well, Justin Trudeau became prime minister anyway and yet the great celebration we all expected for next Canada Day never happened; a year after Hydropothecary eventually promised "Kosher" grade (past mid-September 2017, even if that's meant for smoking instead of eating)... Then the year after they changed their name to Hexo, probably in part because the kosher strategy practically failed its divertive mission.
The "Original Stash" publicity campaing made the news, more time passed.
More recently Hexo's operations elsewhere in Canada and USA triggered a complain followed by an avalanche:
Bonne journée, au plaisir!!
It seems the trending language is finally down to earh:
Egzoset;370865 said:
This industrial may end up on H.-C.'s 5-yr ban list while the François Legault government is still negociating public financial assistance...Egzoset;370866 said:
It sure seems rather odd considering mass-media finally focussed its attention on some acquaintance of Ontario's Hell Angels named Josh Hill (from Redecan) - a detail never bothering anyone before.
Will Hexo remain the 1 & ONLY large LP mandated to supply our SQdC "legal" (...) outlet stores?? None of the "Caisse de Dépôt & Placement", the "Fonds de Solidarité FTQ" and/or Legault appear ready to invest in local Québec-made cannabis.
Now lets try some retrospective. First Adam Miron and Sébastien St-Louis co-founded Hydropothecary just a couple years before the 2015 federal elections, the Québeker guy felt aiming for a "Fortune 500 company", not to mention this trade-name is a pumpous reference to pioneer Louis Hébert in Nouvelle-France... Meanwhile a myclobutanil-for-medical mini-scandal resurfaced after it was revealed to have been secretly discussed (with other canadian peers) by Québec's *ONLY* LP - e.g. Hydropothecary/Hexo exactly.
Mass-media didn't care much to explain how myclobutanil proved "convenient", e.g. the user's own fire turning it into hydrogen cyanide (HCN): a Level-3 poison of the Chemical Weapons Convention masked by one's own consumption method!!
Well, Justin Trudeau became prime minister anyway and yet the great celebration we all expected for next Canada Day never happened; a year after Hydropothecary eventually promised "Kosher" grade (past mid-September 2017, even if that's meant for smoking instead of eating)... Then the year after they changed their name to Hexo, probably in part because the kosher strategy practically failed its divertive mission.
The "Original Stash" publicity campaing made the news, more time passed.
More recently Hexo's operations elsewhere in Canada and USA triggered a complain followed by an avalanche:
Today one last version reports the ambitious co-founder has finally resigned too...Egzoset;370859 said:
Bonne journée, au plaisir!!
Canadain Closet Gardener
Well-Known Member
The Hippy
Well-Known Member
Do tell.......
Canadain Closet Gardener
Well-Known Member
Here you go
www.theglobeandmail.com
paywalled link
Cheers
CCG
Quebec authorities questioning cannabis producer Hexo
The probes are related to a media report published last week that links Hexo to an Ontario entrepreneur who can be seen on Instagram posing with a man in Hells Angels garb
www.theglobeandmail.com
paywalled link
Cheers
CCG
Egzoset
Well-Known Member
Via "acquaintances" of Josh Hill (Redecan) in Ontario...
So far mass-media articles won't say in clear if it was Hydropothecary's co-founder Sébastien St-Louis who imported "organized crime" ties into his company or if the roles were actually reversed - BUT... It seems to me the government of François Legault was engaged into some provincially-endorsed public financing process involving both anyway - which feels almost chilling as our "elite" leader (...) happens to be the 1 prime minister who raised "legal" age to 21, claiming to "save" children from the horrendous fate of joining "problematic" cannabis consumers roughly estimated to 2 % if i remember correctly after reading vague data broadcasted A Mari Usque Ad Mare on our national French-speaking TV network, during the Anne-Marie Dussault "24/60" show as she interviewed, guess who: Didier Jutras-Aswad (on Episode 211)! It was the November 10 week i think and our eminent doctor was invited to comment the "substance use" case of Carey price. ... In short Radio-Canada displayed the bigot (addictionnist-abstentionnist-prohibitionnist) phsychiatrist face in close-up view while i vaguely noticed horizontally-scrolling text attributing the "HARM" of cannabis to a minute minority of persons who shouldn't touch it to begin with.
By the way, this key Qc document remains available in French ONLY even 1 month after its official publication:
...
Not a priority neither in this parliament. Better luck next time, in another life perehaps!
Egzoset
Well-Known Member
The never-ending circus:
Maybe the non-Québekers with a card may not be aware of this but SQdC's pricetags are 2~3 times higher than on clandestine markets and yet Hydropothecary/Hexo still can't reach it's goals without begging for PUBLIC MONEY while years before the Greenhouse Producers Association claimed being quite ready to offer "bio" cannabis with "tracking" similar to chrysanthemums - though for nearly 2 $/g less than Hexo's "Original Stash" which never really competed anything, and worse once examined under the microscope, litterally!
So, thinking this privileged 1st-time monopolistic company actually pumps green money outside our provincial borders, it only sounds plain ridicule today as i remember their promise of "kosher" smoking (?) as a way to make us forget the myclobutanil-for-medical affair...
Feel free to submit a fitting word for it, the usual stuff like "pathetic" fails to resonate at least to me somehow!!
Meanwhile politicians shuffle The People's cash to assist police even further in the drug war, therapy centers get substancial budget promises too and even mass-media seems all too satisfied as it multiplies twisted juxtapositions (like adult pedophile predators using cannabis to exploit children, etc). With TV programming spewing trash of its own between 2 alcohol ads, day or night. In France the politicians who declared being in favour of "légaleezation" (just to extinguish the habit...) are real quick to cite Canada as an example and i'm starting to miss the Harper era - almost!!
Ah, and now i hear New-Zealand wants to go after smokers until they disapear as well, which i find no better than prohibition itself though i don't personally support combustion smoking anymore (but wouldn't advocate against it neither).
Targetted hate culture is the new industry, time to mourn for the future generations. YMMV!
Le producteur de pot HEXO courtise Québec (2021-Dec-10)
« ...HEXO n’a pas voulu dire au Journal combien elle demandait... »
Maybe the non-Québekers with a card may not be aware of this but SQdC's pricetags are 2~3 times higher than on clandestine markets and yet Hydropothecary/Hexo still can't reach it's goals without begging for PUBLIC MONEY while years before the Greenhouse Producers Association claimed being quite ready to offer "bio" cannabis with "tracking" similar to chrysanthemums - though for nearly 2 $/g less than Hexo's "Original Stash" which never really competed anything, and worse once examined under the microscope, litterally!
So, thinking this privileged 1st-time monopolistic company actually pumps green money outside our provincial borders, it only sounds plain ridicule today as i remember their promise of "kosher" smoking (?) as a way to make us forget the myclobutanil-for-medical affair...
Feel free to submit a fitting word for it, the usual stuff like "pathetic" fails to resonate at least to me somehow!!
Meanwhile politicians shuffle The People's cash to assist police even further in the drug war, therapy centers get substancial budget promises too and even mass-media seems all too satisfied as it multiplies twisted juxtapositions (like adult pedophile predators using cannabis to exploit children, etc). With TV programming spewing trash of its own between 2 alcohol ads, day or night. In France the politicians who declared being in favour of "légaleezation" (just to extinguish the habit...) are real quick to cite Canada as an example and i'm starting to miss the Harper era - almost!!
Ah, and now i hear New-Zealand wants to go after smokers until they disapear as well, which i find no better than prohibition itself though i don't personally support combustion smoking anymore (but wouldn't advocate against it neither).
Targetted hate culture is the new industry, time to mourn for the future generations. YMMV!
Last edited:
Egzoset
Well-Known Member
ADDENDUM:
Some good news: the mediatic agent of Québec's economy minister has publicly stated his government won't intervein in the present situation, the bad news being it still says much too little about future structural changes, euh...
But lets keep hoping, although politicians continue to teach us deceiving/demotivating lessons on trust, hope and moral standards in the Commonwealth.
Hexo sollicite Québec, qui reste sur les lignes de côté (2021-Dec-11)
« Il n’y aura pas d’intervention du gouvernement du Québec dans la structure actuelle », a indiqué dans une déclaration Mathieu St-Amand, l’attaché de presse du ministre de l’Économie, Pierre Fitzgibbon.
Some good news: the mediatic agent of Québec's economy minister has publicly stated his government won't intervein in the present situation, the bad news being it still says much too little about future structural changes, euh...
But lets keep hoping, although politicians continue to teach us deceiving/demotivating lessons on trust, hope and moral standards in the Commonwealth.