Cannabis company Tilray Brands signs deal to buy stake in rival Hexo, create joint venture

📆 2022/03/04 1:22:00
📰 globeandmail

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Under the agreement, Tilray Brands will acquire up to US$211-million of senior secured convertible notes that were issued by Hexo and are held by funds affiliated with HT Investments MA LLC

The notes will be amended to allow Tilray Brands to exercise conversion rights at a price of 90 cents Canadian per Hexo share.

The conversion price implies that Tilray Brands would have the right to convert the notes into a 37-per-cent stake in Hexo. The deal will also see Tilray Brands and Hexo create a joint venture that will provide shared services to both companies. The companies estimated that total savings, which will be shared equally, are expected to be up to C$50-million within two years.

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📣 Government for-profit cannabis sales incentivizes ⚠️SubstanceAbuse and Addiction! ⚠️rampant CORRUPTION in 🇨🇦, ban government from cannabis!

I thought that deal had gone up in smoke?

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