HEXO Corp. (HEXO) Acting CFO Trent MacDonald Moves Into Permanent Role

November 9, 2020 9:22 AM EST
Get Alerts HEXO Hot Sheet
Price: $2.04 -2.86%

Overall Analyst Rating:
    NEUTRAL (= Flat)

Trade Now! 
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.

HEXO Corp. (“HEXO”, or the “Company”) (NYSE: HEXO) is pleased to announce that Trent MacDonald’s security clearance request under the Cannabis Act has been granted by Health Canada. As previously announced, Mr. MacDonald had been appointed to the Company’s executive leadership team in the acting role of Chief Financial Officer, with his permanent role as Chief Financial Officer to commence upon the successful completion of Health Canada’s security clearance process for key personnel. With his security clearance having been granted, Mr. MacDonald now moves into a permanent role as Chief Financial Officer.

“HEXO is now in a very strong financial position, having already taken the impairments and write-downs that continue to plague the cannabis industry, while also having plenty of working capital and cash,” said Trent MacDonald. “I am excited to join the Company as we move towards positive EBITDA, positive operational cash flow and clear a path for sustained profitability on a per share basis. I am thrilled to be contributing to HEXO’s strategic and operational initiatives as the Company is relentlessly pursuing a top market position in Canada, while I believe we are extremely well positioned to take advantage of an ever-evolving U.S. market, especially through Truss Beverages, our joint venture with Molson Coors.”

Sébastien St-Louis, Chief Executive Officer and co-founder of HEXO, expressed his appreciation for Health Canada’s celerity in processing Mr. MacDonald’s security clearance application “Along with the Company’s executive leadership team, I would like to commend Health Canada for their diligence and expediency in processing Trent’s application.”



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Management Changes