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 .
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: globeandmail - 🏆 5. / 92 Read more »
Source: BNNBloomberg - 🏆 83. / 50 Read more »