GATINEAU — The producer of cannabis Hexo said Friday that he was not aware of any new or material change not previously disclosed about its activities, which may explain the recent volatility of its share in stock transactions.
The corporation of Gatineau has made this declaration at the request of the canadian regulator of the securities trade (IIROC), the national body of self-regulation that oversees all investment dealers and their trading in the canadian markets of debt securities and shares.
The action of the company formerly known under the name of Hydropothicaire climbed Friday morning until 7,94 $ on the Toronto stock Exchange, which corresponded to an increase of nearly 12 % compared to the end of the day before. The title has finally closed the session down 7 cents, to 7,03 $, which does not, however, show a gain of about 30 % in the last five sessions.
The chief executive officer, Sébastien St-Louis, stated that there was no strategic review process formal for the moment, and was assigned to the market activity, in comments issued on Thursday by shareholders.
Response Capital, an investor activist who claims to be the second largest shareholder of Hexo, has urged the company to launch a review of its strategic options, including a possible sale of the company.
Investment company established in New York referred in particular to the contract of Hexo with the quebec Society of cannabis (SQDC), a subsidiary of the Société des alcools du Québec, as well as its joint venture with the brewer Molson Coors. She believes that it is key advantages the value of which is not reflected in the price of the shares of the company.
In its press release Friday, Mr. St-Louis has recalled that the objective of Hexo was ” to foster a long term, stable growth in order to maximize value for shareholders.”
“Future plans include the development towards the international market as well as the inscription to one of the main exchanges in the united states, it is noted in the document. Announcements to this effect will shortly be transmitted. “