Welcome to our dedicated page for HEXO news (Ticker: HEXO), a resource for investors and traders seeking the latest updates and insights on HEXO stock.
HEXO Corp., formerly known as Hydropothecary, is a leading licensed producer and distributor of medical marijuana under Health Canada's Access to Cannabis for Medical Purposes Regulations (ACMPR). Dedicated to medical excellence, HEXO excels in advanced cultivation techniques, stringent process controls, quality assurance testing, ongoing research and development, and exceptional customer service.
With a focus on expanding its operations, HEXO is set to add a significant 250,000 square feet greenhouse in 2018 to meet growing demand. The company is constantly seeking talented, energetic, and specialized professionals to join its dynamic team and contribute to the rapidly evolving cannabis industry.
HEXO's product portfolio includes a wide range of medical cannabis products designed to meet the diverse needs of patients. The company is committed to innovation and quality, ensuring that all products meet the highest standards of safety and efficacy.
In recent news, HEXO Corp. has announced key partnerships and strategic initiatives aimed at bolstering its market position and expanding its product offerings. These include collaborations with leading organizations and the introduction of new, innovative products that cater to both the medical and recreational cannabis markets.
Financially, HEXO has shown remarkable growth, reflecting its strong market presence and operational efficiency. The company continues to invest in infrastructure and technology to support its long-term growth strategy and maintain its competitive edge in the industry.
For more information on HEXO Corp.'s latest developments, financial performance, and upcoming projects, visit our news section for the most updated data and insights.
HEXO Corp. corrected its financial results for the fiscal year ended July 31, 2022, initially released on October 31, 2022. The correction highlighted inaccuracies in the reported "Total net loss and comprehensive loss" for specific periods, while the rest of the data remained unchanged. For Q4 FY22, HEXO reported revenues of $60.23 million, leading to a total net loss of $102.37 million for the year. The correction ensures clarity in HEXO's financial disclosures, maintaining compliance with regulatory standards.
HEXO Corp. announced that it no longer holds any shares or interests in Zenabis Global Inc. following a court-approved amalgamation. The Superior Court of Québec's Zenabis Approval and Vesting Order, received on October 24, 2022, led to the amalgamation of Zenabis with its subsidiaries into Zenabis Ltd. (AmalCo). Subsequently, HEXO's shares in AmalCo were exchanged for shares in ResidualCo, which were then cancelled without any consideration. As a result, HEXO has no equity stake in Zenabis or its successor companies.
HEXO Corp. reported significant changes in its fourth quarter and fiscal year results for FY22, highlighting a strategic realignment to enhance profitability and growth. Net revenue for FY22 reached $191.1 million, a 54% increase from FY21, driven by acquisitions of Redecan and Zenabis. However, Q4'22 saw a 10% increase year-over-year but a 7% decline sequentially. The company underwent a restructuring, reducing operating expenses by 42% quarter-over-quarter. Despite this, HEXO reported an Adjusted EBITDA loss of $7.5 million in Q4'22. Liquidity concerns persist as HEXO navigates upcoming debt obligations.
HEXO Corp. has partnered with TYSON 2.0, the cannabis company co-founded by Mike Tyson, to produce a new line of cannabis products in Canada. This exclusive partnership allows HEXO to manufacture TYSON 2.0’s cannabis flower, pre-rolls, edibles, and vapes, slated for launch in fall 2022. CEO Charlie Bowman expressed enthusiasm for this collaboration, emphasizing HEXO's capability to enhance consumer experiences in the cannabis market. The deal aims to meet the growing demand for TYSON 2.0 products among Canadian consumers.
HEXO Corp. announced a 180-day extension from Nasdaq to meet the $1.00 bid price requirement for continued listing. The deadline to regain compliance is January 23, 2023. HEXO aims to enhance its stock price potentially through share consolidation. The extension allows HEXO to position itself for long-term success, according to CEO Charlie Bowman. Failure to comply by the deadline could lead to delisting, but an appeal process exists. The company remains listed on both Nasdaq and the Toronto Stock Exchange, with no immediate trading impact.
HEXO has successfully closed a significant transaction with Tilray Brands, establishing a strategic partnership aimed at achieving cost savings of up to US$80 million within 24 months. This deal enhances HEXO's financial flexibility, enabling it to accelerate its transformation into a cash flow positive business within the next four quarters. The refinancing of HEXO's debt improves operational flexibility and unlocks US$80 million in previously restricted cash for growth initiatives. The partnership includes various commercial agreements, enhancing efficiency and product offerings.
HEXO Corp (TSX: HEXO; NASDAQ: HEXO) announced that shareholders approved the Note Transaction with Tilray Brands and HT Investments at a reconvened special meeting. The Note Amendment Resolution received 87.246% approval from shareholders, with 80,423,499 common shares represented. This transaction is pivotal as it amends the terms of an existing senior secured convertible note, with closing expected in Q3 2022, subject to further conditions. The company has previously secured conditional approval from the Toronto Stock Exchange and clearance from the Competition Bureau.
HEXO Corp. announced that its subsidiary, Zenabis Global Inc., has filed a petition for protection under the Companies’ Creditors Arrangement Act (CCAA) in the Superior Court of Québec. This action aims to restructure the Zenabis Group's business and financial affairs, with Ernst & Young Inc. appointed as the Monitor for these proceedings. Importantly, the CCAA petition solely involves the Zenabis Group, leaving HEXO Corp. and its other subsidiaries unaffected.
HEXO Corp announces a significant shareholder approval for an equity purchase agreement with 2692106 Ontario Inc. and KAOS Capital Ltd., enabling a potential issuance of $180 million in common shares. This decision, made at a special meeting, saw 87.246% of votes in favor from approximately 16.12% of outstanding shares. Conditional approval from the Toronto Stock Exchange was previously secured, with the agreement expected by the end of June 2022, pending regulatory conditions. A reconvened meeting is scheduled for July 4, 2022 to discuss additional resolutions related to a transaction with Tilray Brands.
HEXO Corp reported its Q3'22 financial results, showcasing a 14% decline in net sales quarter over quarter, totaling CAD 45,569. The company faced total impairment losses of CAD 83,171 due to the closure of its Belleville facility. Despite an 80% improvement in loss from operations, HEXO withdrew its financial guidance for 2022 and 2023, citing deteriorating market conditions and recent management changes. HEXO is undertaking a strategic review to align with its goal of becoming cash flow positive. The company has secured a $180 million equity line with KAOS Capital to bolster funding.
FAQ
What is the market cap of HEXO (HEXO)?
What does HEXO Corp. do?
What recent expansion projects has HEXO undertaken?
What kind of products does HEXO offer?
Has HEXO announced any new partnerships?
What is HEXO's financial outlook?
Where can I find more information about HEXO's latest news?
What regulatory framework does HEXO operate under?
Is HEXO involved in research and development?
What is HEXO's commitment to quality?
How does HEXO contribute to the cannabis industry?
