HEXO Corp. closes C$57.5 million public offering of common shares
January 30 2019 - 9:25AM
HEXO Corp. (“HEXO” or the “Company”) (TSX:
HEXO;
NYSE-A:
HEXO) is pleased to announce the closing
of its previously announced marketed offering of 8,855,000 common
shares at a price of C$6.50 per share for aggregate gross proceeds
of C$57,557,500, which includes the exercise of the full
over-allotment option of 1,155,000 common shares.
The Company will use the net proceeds from the
Offering for general corporate purposes, including funding the
Company’s global growth initiatives and research and development to
further advance the Company’s innovation strategies.
CIBC Capital Markets and BMO Capital Markets are
the lead underwriters and joint book-running managers and
Oppenheimer & Co. Inc. is the co-lead underwriter for the
Offering. The co-managers for the Offering are AltaCorp Capital
Inc., Beacon Securities Limited, Bryan, Garnier & Co Ltd,
Cormark Securities Inc., Eight Capital, GMP Securities L.P.,
Laurentian Bank Securities Inc., PI Financial Corp. and Roth
Capital Partners, LLC.
The common shares were offered in each of the
provinces and territories of Canada by way of a prospectus
supplement dated January 24, 2019 to the Company’s amended and
restated short form base shelf prospectus dated December 14,
2018 and in the United States pursuant to a
registration statement on Form F-10 in accordance with the
U.S./Canada Multijurisdictional Disclosure System.
Copies of the prospectus supplement, short form
base shelf prospectus and registration statement may be obtained in
Canada from CIBC Capital Markets, 22 Front Street West, Mailroom,
Toronto, ON, M5J 2W5, by telephone at (416) 956-3636, by email at
michelene.dougherty@cibc.ca or from BMO Capital Markets, Brampton
Distribution Centre c/o The Data Group of Companies, 9195 Torbram
Road, Brampton, Ontario, L6S 6H2, by telephone at 905-791-3151 Ext.
4312 / 4322, or by email at torbramwarehouse@datagroup.ca and in
the United States from CIBC Capital Markets, 425 Lexington Avenue,
5th floor, New York, NY, by telephone at (800) 282-0822, by email
at useprospectus@cibc.com or from BMO Capital Markets Corp., Attn:
Equity Syndicate Department, 3 Times Square, 25th Floor, New York,
NY 10036 (Attn: Equity Syndicate), or by telephone at (800)
414-3627, or by email at bmoprospectus@bmo.com.
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 award-winning
products to serve the global cannabis market. As one of the largest
licensed cannabis companies in Canada, HEXO Corp. operates with
over 1.3 million sq. ft. of facilities in Ontario and Quebec and a
foothold in Greece with plans to establish a Eurozone processing,
production and distribution centre. We serve the Canadian adult-use
market under the HEXO brand while continuing to provide our medical
cannabis clients with consistent access to Hydropothecary medical
cannabis products.
Forward-Looking Statements
This press release contains forward-looking
information and forward-looking statements within the meaning of
applicable securities laws (“forward-looking statements”) including
statements regarding the Offering and the use of proceeds of the
Offering as well as statements regarding the Company’s future
business plans. 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,
including that the Company’s use of proceeds of the Offering may
differ from those indicated. Forward-looking statements should not
be read as guarantees of future performance or results. A more
complete discussion of the risks and uncertainties facing the
Company appears in the Prospectus Supplement and the Base Shelf
Prospectus and the Company’s Annual Information Form and other
continuous disclosure filings incorporated by reference in the Base
Shelf Prospectus, which are available on SEDAR at www.sedar.com and
EDGAR at www.sec.gov. 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:Kathy
Chow1-866-438-8429invest@hexo.com
Media Relations:Sarah Brownmedia@hexo.com
Director:Adam Miron819-639-5498
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