tough times in cannabis biz
A cannabis company which closed its Belleville plant last year is being bought out by a minority partner.
Tilray Brands Inc. is buying fellow cannabis company Hexo Corp. in an all-share deal valued at US$56 million aimed at helping the business navigate a “challenging” cannabis market that has seen significant price compression.The arrangement will see Tilray issue 0.4352 shares of its stock for each outstanding Hexo share.
Tilray chief executive Irwin Simon positioned the deal as way to increase the company’s market share, broaden their product offerings and deliver at least $25 million in additional cost savings on an annualized basis. The transaction must be okayed by the courts and receive the support of about 66 per cent of Hexo shareholders at a forthcoming meeting. The companies expect the deal to close in June.
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Tilray strikes US$229M deal to buy Hexo in latest pot M&A move - BNN BloombergTilray Brands Inc. is acquiring rival Canadian cannabis producer Hexo Corp. in a deal worth about US$229 million on Monday in its latest move to strengthen its position as the leading legal marijuana company in Canada.
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Cannabis company Tilray to buy rival Hexo in all-share dealTilray Brands Inc. says it is buying fellow cannabis company Hexo Corp. in an all-share deal valued at US$56 million.
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Cannabis company Tilray to buy rival Hexo in all share deal | Globalnews.caTilray's Irwin Simon says that along with its acquisition of Montauk Brewing Co., the Hexo deal will help as it builds a leading, diversified cannabis lifestyle company.
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Belleville Senators recognize star playersThe Belleville Senators have announced their 2022-2023 player awards. The six player awards are chosen by Bell...
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