OTTAWA, April 13, 2020 (GLOBE NEWSWIRE) — HEXO Corp. (“HEXO”, or the “Company”) (TSX: HEXO; NYSE: HEXO) today announced the closing of its previously announced underwritten public offering (the “Offering”) for total gross proceeds to the Company of approximately C$46 million. The Company sold 59,800,000 units of the Company (the “Units”) at a price of C$0.77 per Unit under the Offering, including 7,800,000 Units sold pursuant to the exercise in full of the underwriters’ over-allotment option.
Each Unit is comprised of one common share of the Company and one common share purchase warrant of the Company. Each warrant is exercisable to acquire one common share of the Company for a period of 5 years following the closing date of the Offering at an exercise price of C$0.96 per share, subject to adjustment in certain events.
Canaccord Genuity Corp. and Canaccord Genuity LLC acted as the lead underwriters for the Offering, together with a syndicate of underwriters including Alliance Global Partners and AltaCorp Capital Inc.
The Company expects to use the net proceeds from the Offering for working capital and other general corporate purposes.
In connection with the Offering, the Company filed a prospectus supplement dated April 8, 2020 (the “Prospectus Supplement“) to the Company’s amended and restated short form base shelf prospectus dated December 14, 2018 (the “Base Shelf Prospectus”) with the securities commissions or similar securities regulatory authorities in each of the provinces and territories of Canada, and with the U.S. Securities and Exchange Commission as part of the Company’s registration statement on Form F-10 (the “Registration Statement”) under the U.S./Canada Multijurisdictional Disclosure System.
Copies of the Prospectus Supplement and the Base Shelf Prospectus are available on SEDAR at Where Can I Buy Valium In Canada and on EDGAR at www.sec.gov and a copy of the Registration Statement is available on EDGAR at Buy Valium Mastercard Online. Copies of the Prospectus Supplement, the Base Shelf Prospectus and the Registration Statement may also be obtained in Canada from Canaccord Genuity Corp., 161 Bay Street, Suite 3000, Toronto, ON M5J 2S1 and in the United States from Canaccord Genuity LLC, 99 High Street, Suite 1200, Boston, Massachusetts 02110, Attn: Syndicate Department, by telephone at (617) 371-3900, or by email at Cheap Valium Australia.
No securities regulatory authority has either approved or disapproved of the contents of this press release. This press release is for information purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
HEXO Corp is an award-winning consumer packaged goods cannabis company that creates and distributes innovative products to serve the global cannabis market. The Company serves the Canadian adult-use markets under its HEXO Cannabis and Up Cannabis brands, and the medical market under HEXO medical cannabis. For more information please visit hexocorp.com.
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