This news release constitutes the “Designated News Release” for the purpose of supplementing our prospectus dated May 11, 2021 to the short-form Baseshelf Prospectus dated May 7, 2021 in 2021. Revised and revised on May 25th.
Gatineau, Quebec, March 14, 2022 (GLOBE NEWSWIRE) — HEXO Corp. (TSX: HEXO; NASDAQ: HEXO) (“HEXO” or “society“) Today, by May 2023, HT Investments MA LLC (“bond holder”), the holder of our preferred secured convertible bonds (“secured bonds”), until January 31, 2022. A contract of a secured bond company with a positive adjusted EBITDA (“default event”) defined and calculated for secured bonds for three months.
HEXO will be defined and calculated in Secured Note on March 11, 2022 by the Secured Note Company for a positive adjusted EBITDA for the three months ending January 31, 2022.
Noteholders may be purchased by us, Noteholders and Tilray Brands, Inc. (“Tilray”) Tilray from Noteholders on May 17, 2022 or March 3, 2022 (“Tilray”). Only if we, the Noteholders, and Tilray agree to extend the grace end date in the event of such an event. Continue to engage in good faith negotiations to complete the proposed transaction.
As a result of default, noteholders have the right to declare that the secured bond or a portion thereof is due and will be immediately paid in cash equivalent to 115% of the unpaid amount of the secured principal. Would have been. Note. The original outstanding principal amount was $ 360,000,000, but the current outstanding principal amount of the secured bond reduced by redemption by the noteholder is $ 208,665,185.
Description of future prospects
This press release contains forward-looking information and forward-looking statements within the meaning of applicable securities law (“”Description of future prospects“). Forward-looking statements are based on specific expectations and assumptions, with known and unknown risks and uncertainties, and actual events, results, performances, and outcomes in these forward-looking statements. Affected by other factors that may differ materially from what is expected. Forward-looking statements should not be read as a guarantee of future performance or results. Readers should read the date of this press release. We are careful not to place undue reliance on these forward-looking statements, which are stated only at the time of. As, or for any other reason, disclaims any intent or obligation to update or revise any forward-looking statement.
This press release should be read along with management discussions and analysis (“MD & A“) And a three-month unaudited summary consolidated interim financial statements and notes ending October 31, 2021. Additional information regarding HEXO is available from SEDAR (www.sedar.com) and EDGAR (www.sec). Available in the profile of the Government, including our annual information form for the year ended July 31, 2021, dated October 29, 2021.
HEXO is an award-winning licensed producer of innovative products for the global cannabis market. HEXO serves the Canadian recreation market with a portfolio of brands including HEXO, Redecan, UP Cannabis, Namaste Original Stash, 48 North, Trail Mix, Bake Sale, REUP, Latitude Brands, Canada, Israel and Malta Medical Markets. I am. The company also serves the Colorado market through Truss CBD USA, a joint venture between the Powered by HEXO® strategy and Molson-Coors. With the completion of HEXO’s recent acquisition of Redecan and 48 North, HEXO has become Canada’s leading cannabis product company in recreation market share. For more information, please visit hexacorp.com.
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HEXO Announces Default High Trail Exemption Event Based on Secured Notes in Canadian Business Journal
Source link HEXO Announces Default High Trail Exemption Event Based on Secured Notes in Canadian Business Journal