HEXO Corp. Announces US$25.0 Million Registered Direct Offering

HEXO Corp. Announces US.0 Million Registered Direct Offering

OTTAWA, Dec. 26, 2019 (GLOBE NEWSWIRE) — HEXO Corp. (“HEXO” or the “Company”) (TSX: HEXO; NYSE: HEXO) today announced it has entered into a definitive agreement with institutional investors for the purchase and sale of 14,970,062 common shares at an offering price of US$1.67 per share for gross proceeds of US$25.0 million before deducting fees and other estimated offering expenses, pursuant to a registered direct offering (the “Offering”). The Company has also agreed to issue to the investors common share purchase warrants to purchase 7,485,032 common shares of the Company. The warrants will have a five year-term and an exercise price of US$2.45 per share. The Company expects to use the net proceeds from the Offering for working capital and other general corporate purposes, including funding the Company’s research and development to further advance the Company’s innovation strategies. The Offering is expected to close on or about December 30, 2019, subject to the satisfaction of customary closing conditions, including, but not limited to, the listing of the common shares on the Toronto Stock Exchange and the New York Stock Exchange and any required approvals of each exchange. A.G.P./Alliance Global Partners is acting as sole placement agent for the Offering. The Offering…

Excerpt only …
READ MORE BELOW
Source : CANNANNEW REPORT
Link to original : HEXO Corp. Announces US.0 Million Registered Direct Offering
reposted by Cannabis News World

This site uses Akismet to reduce spam. Learn how your comment data is processed.