HEXO Corp's affiliate, HEXO MED, has received a medical cannabis installation license. The license, issued by the Greek government, will allow HEXO MED to establish cultivation, processing and manufacturing facilities in the region of Thessaly, Greece.
“Receiving licensing in Greece will allow us to bring know-how and brands powered by HEXO to the European market. The new facility will also drive value for current and future Fortune 500 partners by giving them access to licensed infrastructure internationally with the vision of capturing first-mover advantage in the burgeoning European cannabis market,” said Sebastien St-Louis, HEXO Corp CEO and co-founder.
HEXO MED’s large-scale high-tech greenhouse and world-class EU GMP facilities will be based on a 67,000 square meter (or 721,182 sq. ft.) plot in Larissa, Greece. According to the company., the new facilities are expected to initially create 150 jobs in the local community which will continue to scale up as HEXO MED further expands. Construction of the approximately 30,000 square meter (or 323,000 sq. ft.) facility is expected to begin in Q4 2019.