Saturday, May 31, 2025

Latest

Hexo Corp Proposes Share Consolidation To Shareholders Again

In a move surprising absolutely no one, Hexo Corp (TSX: HEXO) has put forth a resolution to consolidate its shares, again. The resolution was included within the firms Notice of Annual and Special Meeting of Shareholders filed by the firm earlier today.

The consolidation proposed by the company is a result of the firm falling out of listing compliance with the Nasdaq. Under Nasdaq regulations, firms must maintain a share price of US$1.00 or higher to remain in good standing with the exchange. Following a continued fall from grace for the cannabis producer, the firm on January 31 announced it had fallen out of compliance and had 180 days to correct the issue.

The share consolidation proposed by the firm this morning consisted of a range of options for the company, ranging from a 1 for two reverse split to that of a one for fourteen reverse split. If approved, the shareholder resolution would permit the firms board of directors to ultimately elect at what ratio the firm consolidates, within the bounds of that range.

Hexo Corp is notably not new to share consolidations, with the company being forced to undergo a consolidation as recently as December 2020. At the time, the firm had initially proposed a one for eight consolidation with shareholders, but due to a bump in its equity, the firm ultimately enacted a one for four consolidation on December 23, 2020.

Also proposed at the special meeting by the company is the expansion of its board from ten to twelve members, and to approve the unallocated awards under the firms omnibus long-term incentive plan.

Hexo Corp last traded at $0.80 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.

4 Responses

  1. as a smalltime investor i have invested in hexo as well as other pot stocks and have lost a fortune–to me–in doing so. who would have thought pot stocks would do so bad.

  2. Just go bankrupt. Hexo’s shareholders have compensated this company’s c-suite lifestyle for far too long. You have screwed us many times over. No one will buy its stock and certainly not any Molson-Coors product ever again.

Leave a Reply

Video Articles

Alamos Gold Q1 Earnings: The Inside Scoop

Cerrado Gold Q4 Earnings: The Turnaround is Working

B2GOLD Q1 Earnings: Revenue Up, Production & Cash Flow Decline

Recommended

Canadian Copper: The $172M Combined Strategy PEA

ESGold Begins Concentration Tests Ahead Of First Production

Related News

Hexo Announces US$40 Million ATM Financing, Has Less Than Two Months Cash Remaining

Hexo Corp (TSX: HEXO) is looking to dilute its current shareholders once again. The firm...

Tuesday, May 3, 2022, 10:48:32 AM

Hexo Corp Fails To Meet NYSE Listing Standards, Mulls Share Consolidation

Hexo Corp (TSX: HEXO) (NYSE: HEXO) has received notification from the New York Stock Exchange...

Wednesday, May 13, 2020, 05:34:21 PM

Hexo’s Truss Joint Venture Announces Five New Brands, Rollout Of Beverages

Hexo Corp (TSX: HEXO) (NYSE: HEXO) has seen its joint venture with Molson Coors Canada,...

Tuesday, August 25, 2020, 11:16:03 AM

Hexo To Be Acquired By Tilray For US$56.0 Million

It appears that Sebastian St-Louis’s “billion dollar start-up” has finally been sold. Hexo Corp (TSX:...

Monday, April 10, 2023, 05:26:52 PM

Hexo Corp Records Q4 Revenues Of $38.8 Million, Posts Going Concern

Hexo Corp (TSX: HEXO) this morning reported its fourth quarter financial results for 2021, posting...

Friday, October 29, 2021, 08:06:15 AM