- HEXO Corp (HEXO) will file a management information circular by next week in preparation for its upcoming shareholders’ meeting
- The circular includes HEXO’s agreements with Tilray Brands (TLRY) and HT Investments
- KAOS and HEXO agreed to one amendment for a standby commitment fee increase
- HEXO Corp. (HEXO) is down 3.85 per cent and is trading at $0.37 per share as of 12:50 p.m. ET
HEXO Corp (HEXO) will file a management information circular by next week in preparation for its upcoming shareholders’ meeting.
Transactions contemplated in the proposed amendment include the company’s outstanding senior secured convertible note to be assigned to Tilray Brands Inc. (TLRY) according to a transaction agreement and the assignment and assumption agreement entered by Tilray, HEXO and HT Investments MA LLC.
The amendment also covers the equity purchase agreement with HEXO and an affiliate of KAOS Capital Inc. as a step forward in executing on HEXO’s strategic plan.
Further details concerning the transactions and related agreements will be set out in the circular and the transactions remain subject to compliance with the requirements.
Considering the worsening stock market conditions and a decrease in HEXO’s share price, the KAOS affiliate and HEXO have agreed to an amendment. The affiliate will now initially receive 10.8 million HEXO common shares as a standby commitment fee versus the originally agreed 7.55 million common shares.
HEXO Corp. (HEXO) is down 3.85 per cent and is trading at $0.37 per share as of 12:50 p.m. ET.
Tilray Brands Inc. (TLRY) is down 1.62 per cent and is trading at $5.38 per share as of 12:55 p.m. ET.
