Molson and HEXO close on cannabis JV deal

|By:, SA News Editor

Molson Coors Brewing (NYSE:TAP) and HEXO Corp. (OTCPK:HYYDF) close on their joint venture transaction to pave the way to develop non-alcoholic, cannabis-infused beverages for the Canadian market.

The Truss JV is structured as a standalone company with its own board of directors and independent management team. Molson has a 57.5% controlling interest through its Canadian subsiairy and HEXO holds the remaining 42.5%.

Molson-HEXO statement: "With the backing of two partners with deep Canadian roots, proven success, and market-leading experience in the respective beverage and cannabis industries in Canada, Truss will hit the ground running. When consumable cannabis is legalized in Canada, Truss will be ready to make its mark as a responsible leader in providing high-quality beverages for the Canadian consumer."

Shares of Hexo are up +40% over the last month.

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