HEXO Corp. and Zenabis Global Inc. Announce Closing of Arrangement
HEXO Corp. (âHEXOâ) (TSX: HEXO; NYSE: HEXO) and Zenabis Global Inc. (âZenabisâ) (TSX: ZENA) are pleased to announce that they have completed the previously announced arrangement (the âArrangementâ), pursuant to which HEXO has acquired all of the issued and outstanding common shares of Zenabis (âZenabis Sharesâ) by way of a plan of arrangement under the Business Corporations Act (British Columbia).
âToday is another great day for HEXO,â said HEXO CEO and co-founder Sebastien St-Louis. âWith the acquisition of Zenabis, we are actively positioning HEXO for future expansion in Canada, Europe and beyond. This deal will strengthen our domestic brands, offer a foothold in Europe and provide significant accretive synergies as we continue towards our goal of becoming EPS positive and a top-three global cannabis products company.â
Hexo to buy Redecan for $925 million as hunt for more cannabis market share continues
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By The Canadian Press on May 28, 2021.
Cannabis plants are seen during a tour of a Hexo Corp. production facility, Thursday, October 11, 2018 in Masson Angers, Que. Hexo Corp. will buy cannabis producer Redecan in a $925 million deal comprised of cash and shares. THE CANADIAN PRESS/Adrian Wyld
OTTAWA – Hexo Corp. will buy cannabis producer Redecan in a $925-million deal comprised of cash and shares.
Ottawa-based Hexo says it will pay Toronto’s Redecan $400 million in cash and $7.53 per share for a total of $525 million.
Redecan shareholders will hold about 31 per cent of HEXO’s issued and outstanding common shares immediately following the closing of the transaction.
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