Hexo has completed the acquisition of all of the outstanding shares of the entities that carry on the business of Redecan, one of Canada’s largest privately-owned licensed producers. At closing, Hexo paid the selling shareholders of Redecan $400 million in cash and delivered 69.7 million newly issued common shares of Hexo.
“This is an exciting day for Hexo and Redecan employees, investors, consumers and stakeholders,” said Hexo CEO and co-founder Sebastien St-Louis. “The completion of this transaction is aligned with our corporate growth strategy and will further strengthen our position as a leader in the Canadian cannabis industry, bolstering the combined company as we look towards becoming a top three global cannabis products company and continue on the path towards positive EPS.”
For more information:
HEXO
204-490, Boulevard Saint-Joseph,
Gatineau, QC J8Y 3Y7
1-866-438-8429
invest@hexo.com
hexocorp.com