HEXO - HEXO STOCK NEWS

HEXO Corp. has announced that Trent MacDonald has received his security clearance from Health Canada, enabling him to officially assume the role of Chief Financial Officer. With strong financial positioning, HEXO aims to achieve positive EBITDA and operational cash flow while strategically enhancing its market presence in Canada and the U.S. through Truss Beverages, a joint venture with Molson Coors. CEO Sébastien St-Louis praised Health Canada for promptly processing the application. HEXO operates various cannabis brands, offering products to both adult-use and medical markets.

HEXO Corp (NYSE: HEXO) has successfully settled a legal dispute with Assi Project Management, LLC over trademark infringement related to the use of the HEXO name. The California-based company was marketing CBD products under the name HEXOCBD, leading HEXO to file a lawsuit for unfair competition. As part of the settlement, Assi is permanently barred from using any term similar to HEXO and must destroy related materials. This decision reinforces HEXO's trademark rights and brand recognition, crucial for its ongoing operations in the cannabis market.

HEXO Corp announced a proposed consolidation of common shares at an 8:1 ratio to address non-compliance with the NYSE's minimum share price of US$1.00. The company has faced this issue since April 7, 2020, when its average share price fell below the threshold. The consolidation requires shareholder approval at the meeting scheduled for December 11, 2020, and aims to prevent delisting from the NYSE. After consolidation, the total shares will reduce from approximately 483 million to about 60 million, with ownership percentages remaining largely unchanged.

HEXO Corp. (TSX: HEXO; NYSE: HEXO) reported record revenue of $36.1M for Q4 2020, a 17% increase from Q3 and 76% year-over-year. Net revenue also rose to $27.1M, up 23% from the previous quarter. Adjusted EBITDA improved by 21% to ($3.25M), with a goal of achieving positive EBITDA in H1 FY2021. The company maintained a gross margin of 42% before adjustments, despite challenges from new product launches. HEXO increased cash equivalents by 95%, raising $54M through a public offering. However, significant impairments resulted in a net loss of $546.5M for FY2020.

HEXO Corp plans to release its financial results for the quarter and fiscal year ending July 31, 2020, on October 29, 2020, after market hours. A webcast for investors and analysts will follow on October 30, 2020, starting at 8:30 a.m. EDT. HEXO Corp operates in the cannabis market serving both adult-use and medical segments under various brands. This announcement is crucial for investors looking to understand the company's financial health and performance metrics.

HEXO Corp (TSX: HEXO; NYSE: HEXO) announced the appointment of Emilio Imbriglio to its Board of Directors following the resignation of Natalie Bourque. Imbriglio, CEO of Raymond Chabot Grant Thornton, brings extensive experience in corporate finance, including large-scale mergers and infrastructure projects. His role on the Audit Committee is expected to enhance the company's governance. The Board expressed confidence in his ability to support HEXO's growth strategy. HEXO operates in the cannabis market, providing products under various brands for both adult-use and medical applications.

HEXO Corp. announces the appointment of Trent MacDonald as the acting Chief Financial Officer effective immediately. His permanent role will begin after Health Canada's security clearance process is completed. MacDonald, who joined HEXO in September, has over 15 years of experience in finance, notably as CFO of Rx Drug Mart and VP Finance at Indigo and Sobeys. His expertise focuses on strategic growth and operational effectiveness, supported by a strong educational background in accounting and finance.

HEXO Corp announced the hiring of Trent MacDonald as Chief Financial Officer, effective after securing necessary clearance. MacDonald brings over 15 years of financial experience from roles at Rx Drug Mart and Indigo, focusing on strategic growth. He replaces Stephen Burwash, who will aid in the transition. CEO Sebastien St-Louis emphasized the significance of MacDonald’s skills during challenging times in the cannabis industry. HEXO continues its goal of becoming a notable consumer packaged goods company in cannabis.

HEXO Corp has successfully completed its at-the-market equity program, selling a total of 33,921,979 common shares from June 18 to July 31, 2020. The sales generated gross proceeds of approximately C$34.5 million (C$17,248,047 and US$12,751,168). The funds raised are intended for general corporate purposes, including working capital and debt repayments. The ATM program operated under an equity distribution agreement with ATB Capital Markets and Oppenheimer & Co. No regulatory authority has approved the contents of this release.