HEXO Corp Announces Repayment of Credit Facility
May 03 2021 - 6:30AM
HEXO Corp (“HEXO”, or the “Company”) (TSX: HEXO; NYSE: HEXO) today
announced that it has repaid, effective April 30, 2021, the total
outstanding balance on its credit facility established under its
credit agreement dated February 14, 2019 with Canadian Imperial
Bank of Commerce as sole bookrunner, co-lead arranger and
administrative agent, and Bank of Montreal as co-lead arranger and
syndication agent, together with accrued interest and associated
fees, in the amount of approximately $28.9 million.
“We believe repayment of the credit facility
provides HEXO with flexibility as we continue to execute on our US
expansion plans and our goal to become a top two Canadian LP by
adult-use recreational cannabis sales,” said HEXO CEO and
co-founder Sebastien St-Louis. “We would like to thank our lenders
for their support, which has contributed to HEXO’s success to
date.”
About HEXO (TSX: HEXO; NYSE:
HEXO)
HEXO Corp is an award-winning consumer packaged
goods cannabis company that creates and distributes innovative
products to serve the global cannabis market. The Company serves
the Canadian adult-use markets under its HEXO, HEXO Plus, Up,
Original Stash and Bake Sale brands and the medical market under
HEXO medical cannabis. For more information, please visit
hexocorp.com.
Forward Looking Statements
This press release contains forward-looking
information and forward-looking statements within the meaning of
applicable securities laws (“forward-looking statements”).
Forward-looking statements are based on certain expectations and
assumptions and are subject to known and unknown risks and
uncertainties and other factors that could cause actual events,
results, performance and achievements to differ materially from
those anticipated in these forward-looking statements.
Forward-looking statements should not be read as guarantees of
future performance or results. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date of this press release. The Company disclaims
any intention or obligation, except to the extent required by law,
to update or revise any forward-looking statements as a result of
new information or future events, or for any other reason.
Investor Relations:
invest@HEXO.com
www.hexocorp.com
Media Relations:
(819) 317-0526
media@hexo.com
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