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. reported its 3Q21 financial results, showing total net sales increased 2% year-over-year. Key highlights include a 169% surge in non-beverage adult-use net revenues outside Quebec and a 14% growth in Ontario sales. Despite maintaining a leading position in Canada’s beverage category and a strong working capital of $182M, total net sales experienced a $10.2M decline from the prior quarter. The company announced acquisitions of 48North and Redecan, aiming to enhance its market presence. Additionally, adjusted EBITDA was ($10.78M) for the quarter.
HEXO Corp will participate in upcoming investor conferences. On June 15, CEO Sebastien St. Louis will join a panel at the Oppenheimer Consumer Growth & E-Commerce Conference at 12:25 p.m. Eastern Time. The following day, both St. Louis and CFO Trent MacDonald will engage in a fireside chat at the Cantor Fitzgerald Virtual Canadian LPs Cannabis Forum at 9:00 a.m. Eastern Time. These events can be accessed via the company's Events page. HEXO is a leading cannabis producer in Canada and is poised to expand its market share significantly.
HEXO Corp (TSX: HEXO; NYSE: HEXO) will release its fiscal Q3 2021 financial results on June 14, 2021, before market hours, followed by an investor webcast at 8:30 a.m. ET. HEXO is a leading producer in the global cannabis market, serving both recreational and medical sectors in Canada, Israel, and Malta. The company aims to become the top cannabis products company in Canada by market share through ongoing acquisitions of 48North and Redecan.
HEXO Corp has successfully completed the acquisition of Zenabis Global Inc., enhancing its market position in Canada and Europe. Each Zenabis shareholder receives 0.01772 HEXO shares for each Zenabis share held. The arrangement is expected to strengthen HEXO’s brands and provide significant synergies, aiming for positive earnings per share (EPS) and a top-three global cannabis market position. Zenabis shares will be delisted from the TSX on June 2, 2021, while Zenabis warrants will continue trading under the HEXO symbol from June 3, 2021.
HEXO Corp has announced a definitive agreement to acquire Redecan, Canada’s largest privately-owned licensed producer, for $925 million. This transaction is poised to elevate HEXO to the top of the Canadian recreational cannabis market, improving brand portfolio and market reach across major provinces. The acquisition also leverages Redecan's efficient production capabilities to enhance future financial performance. Completion is expected in Q3 2021, pending shareholder approval, and aims to position HEXO for international expansion.
HEXO announced the closure of a $360 million offering of senior secured convertible notes to an institutional purchaser. The notes were sold at approximately 91% of their principal amount and will mature on May 1, 2023. Proceeds from the offering are expected to fund a potential acquisition of a large Canadian licensed producer, though no definitive agreement has been reached yet. The notes are secured by a first priority lien on the company's assets, enhancing its financial stability despite the risks associated with the pending acquisition.
HEXO Corp (TSX: HEXO; NYSE: HEXO) announced management participation in BMO Capital Markets' 16th Annual Farm to Market Conference. CEO Sebastien St-Louis and CFO Trent MacDonald will engage in a fireside chat on May 20, 2021, at 9:20 a.m. ET. Interested participants can access the live webcast on the HEXO website's Events page. HEXO is known for its innovative cannabis products, serving both the Canadian adult-use and medical cannabis markets under various brands such as HEXO, HEXO Plus, and Original Stash.
HEXO Corp is set to acquire 48North Cannabis Corp in a court-approved all-share transaction valued at approximately $50 million. This strategic move aims to bolster HEXO's position in the Canadian adult-use cannabis market, allowing for expected synergies of up to $12 million within the first year. Shareholders of 48North will receive HEXO shares, realizing a 20% premium based on recent trading data. The board of both companies supports the deal, which requires approval from 66.67% of 48North shareholders.
HEXO Corp has filed a new preliminary short form base shelf prospectus for debt securities, allowing offerings of up to $500 million in securities over 25 months. This filing includes a reduction in the existing equity base shelf prospectus from $1.2 billion to $700 million. Proceeds from these offerings may fund operations, repay debt, and support expansion plans in the U.S. The filings are pending regulatory approval and will enhance HEXO's financing options for strategic initiatives.
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