HEXO Corp. (TSX: HEXO) announced today the closing of the acquisition of all issued and outstanding shares of Zenabis Global Inc. (TSX: ZENA). Zenabis shares are expected to be delisted from the Toronto Stock Exchange when markets close on June 2, 2021.
Under the terms of the acquisition, each Zenabis shareholder is now entitled to receive 0.01772 of a HEXO common share for each Zenabis share held. Warrants to purchase Zenabis shares are also exercisable after the acquisition, albeit it will now be in HEXO shares for the same consideration exchange.
Zenabis also has an outstanding class of warrants listed on the TSX under the symbol “ZENA.WT”. These listed warrants will continue to trade under the new symbol “HEXO.WT” starting June 3, 2021.
HEXO Corp. last traded at $8.61 while Zenabis Global Inc. last traded at $0.145 on the TSX.
Information for this briefing was found via Sedar and Hexo Corp. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.