There seems to be more financial uncertainty for a marijuana processing company that has a “centre of excellence” in Belleville’s industrial park.
Hexo Corporation, which set up shop in the old Sears warehouse, says there will be a delay in the filing of its financial statements for the second quarter of the 2020 fiscal year, that ended on January 31.
The company says the delay in filing those numbers comes from “exceptional circumstances” surrounding a “significant impairment loss” which is still being calculated.
A BNN Bloomberg report suggests the impairment could be in the range of $280 million.
Hexo has put a blackout on trading by its directors, officer and other company insiders, until the Q2 filings have been submitted, but did release a few financial numbers from the quarter including a 23% increase in gross revenue and a 17% increase in net revenue from Q1.
