Cannabis company Tilray to buy rival Hexo in all-share deal

It says it will issue 0.4352 shares of Tilray stock for each outstanding Hexo share in the deal structured as a merger that requires both shareholder and court approval.

Tilray chief executive Irwin Simon says in a statement that along with its acquisition of Montauk Brewing Co. in November, the Hexo deal will help as it builds a leading, diversified cannabis lifestyle company. Hexo chairman Mark Attanasio says in a statement that given headwinds in the cannabis industry, the company's board thought shareholders would benefit by being part of Tilray's diversified business.

The proposed merger comes as Tilray reported a net loss of US$1.2 million for the quarter ending Feb. 28, compared with a net income of US$52.5 million for the same quarter last year. Net revenue came in at US$145.6 million for its third quarter compared with US$151.9 million for the same quarter last year.

Most Liberal voters are awaiting the legalization of cocaine and heroin to re-elect the Liberal Party .

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Change is in the air: Western Canadian food and drink companies refreshing their brandsAt a time when restaurants, breweries and distilleries are beyond plentiful, consumers have a multitude of choices to stay fed and watered Remember go woke... become broke
Источник: globeandmail - 🏆 5. / 92 Прочитайте больше »

Cannabis company Phoena will wind down business under creditor protection - BNN BloombergPhoena Holdings Inc. plans to wind down its business and has obtained creditor protection for a second time.
Источник: BNNBloomberg - 🏆 83. / 50 Прочитайте больше »