HEXO Corp. Closes US$20.0 Million Registered Direct Offering
January 22 2020 - 5:05PM
HEXO Corp. (“HEXO” or the “Company”) (TSX: HEXO; NYSE: HEXO) today
announced it has closed its previously announced registered
direct offering with institutional investors (the “Offering”).
Under the Offering, the Company sold 11,976,048 common shares at an
offering price of US$1.67 per share for gross proceeds of US$20.0
million before deducting fees and other estimated offering
expenses. The Company also issued to the investors common share
purchase warrants to purchase 5,988,024 common shares of the
Company. The warrants will have a five year-term and an exercise
price of US$2.45 per share. A.G.P./Alliance Global Partners acted
as sole placement agent for the Offering.
The Offering was made in the United States only
under the Company’s amended and restated short form base shelf
prospectus dated December 14, 2018 (the “Base Shelf Prospectus”),
filed with the securities regulatory authorities in each of the
provinces and territories of Canada, and the corresponding
registration statement on Form F-10 (the “Registration
Statement”) filed by the Company with the U.S. Securities and
Exchange Commission (“SEC”) under the U.S./Canada
Multijurisdictional Disclosure System (“MJDS”). A prospectus
supplement (the “Supplement”) to the Base Shelf Prospectus was
filed on a non-offering basis with applicable securities regulatory
authorities in Canada and with the SEC as part of the Registration
Statement under the MJDS. Copies of the Supplement and the Base
Shelf Prospectus are or will be available on SEDAR at www.sedar.com
and copies of the Supplement and the Registration Statement are or
will be available on EDGAR at www.sec.gov.
No securities regulatory authority has either
approved or disapproved of the contents of this press release.
This press release is for information purposes only and shall not
constitute an offer to sell or the solicitation of an offer to
buy, nor shall there be any sale of these securities in any state
or jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About HEXO
HEXO Corp. is an award-winning consumer packaged
goods cannabis company that creates and distributes innovative
products to serve the global cannabis market. Through its hub and
spoke business strategy, HEXO Corp. is partnering with Fortune 500
companies, bringing its brand value, cannabinoid isolation
technology, licensed infrastructure and regulatory expertise to
established companies, leveraging their distribution networks and
capacity. As one of the largest licensed cannabis companies in
Canada, HEXO Corp. operates facilities in Ontario and Quebec. The
Company serves the Canadian adult-use markets under its HEXO
Cannabis, Up Cannabis and Original Stash brands, and the medical
market under HEXO medical cannabis. For more information please
visit hexocorp.com.
Investor Relations:Jennifer
Smith1-866-438-8429invest@hexo.com www.hexocorp.com
Media Relations:(819)
317-0526media@hexo.com
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