One of our recent favorites has been Hexo Corp (OTCMKTS:HYYDF). The company is particularly interesting because of its recent deal with Molson Coors Brewing Company (NYSE:TAP) to kickstart the cannabis beverage space on a start-up level with some juice. That space is likely to become a major draw for institutional interest on a strategic investment level. That ship already came in for Hexo.

Now, to further drive the narrative, the company just announced the acquisition of an interest in a 2,004,000 sq. ft. facility in Belleville, Ontario. According to the release, “This is the first facility of the Company to be established outside of Quebec, further delivering on its national expansion strategy and providing capacity for the manufacturing of advanced cannabis products, including cosmetics, vapes, non-alcoholic beverages and other edibles.”

Hexo Corp (OTCMKTS:HYYDF) trumpets itself as a company that, together with its subsidiaries, produces and distributes medical marijuana products. The company is headquartered in Gatineau, Canada, and, as noted above, just changed its corporate name from “The Hydropothecary Corporation” to “HEXO Corp.” effective August 29, 2018.

HEXO creates and distributes innovative, easy-to-use and easy-to-understand products to serve the Canadian cannabis market. One of the country’s lowest-cost producers, HEXO is rapidly increasing its production capacity in the lead up to the adult-use cannabis market.

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The Company currently operates with over 310,000 sq. ft. of production capacity with construction on another 1,000,000 sq. ft. expansion set to be complete by year-end. HEXO will serve the adult-use market under the HEXO brand, while continuing to serve its medical cannabis clients through the well-known Hydropothecary brand.

According to company materials, “HEXO Corp. creates and distributes innovative, easy-to-use and easy-to-understand products to serve the Canadian cannabis market. One of the country’s lowest-cost producers, HEXO is rapidly increasing its production capacity in the lead up to the adult-use cannabis market. The Company currently operates with over 310,000 sq. ft. of production capacity with construction on another 1,000,000 sq. ft. expansion set to be complete by year end. HEXO will serve the adult-use market under the HEXO brand, while continuing to serve its medical cannabis clients through the well-known Hydropothecary brand.“

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As noted above, the company just announced that it has acquired an interest in a 2M sq. ft. facility in Ontario to expand capacity as the premium on an ROI basis kicks up in the space in front of the adult use green light. Overall, we’ve witnessed 72% added to share values of the name over the past month of action. What’s more, the stock has seen interest climb, with an increase in recent trading volume of just under 450% above the average volume levels in play in this stock over the longer term.

“There is a skilled workforce in the Belleville area, and we look forward to capturing it,” said Sebastien St-Louis, HEXO’s co-founder and CEO. “We are investing in the region and its people with a view to achieving a sustainable national presence. For the first time, we are stepping out of our home province of Quebec and are committed to and demonstrating our commitment to serve and expand across Canada. And we are keeping future partnership and international opportunities in sight for the near future.”

Now commanding a market cap of $1.17B, HYYDF has a stash ($963K) of cash on the books, which is balanced by about $9.8M in total current liabilities. HYYDF is pulling in trailing 12-month revenues of $4.4M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 4.9%. This is an exciting story, and we look forward to a follow-up chapter as events transpire. Sign-up for continuing coverage on shares of $HYYDF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $HYYDF, either long or short, and we have not been compensated for this article.