Hexo Corp To Conduct ATM Financing To The Tune Of C$150.0 Million

Hexo Corp (TSX: HEXO) (NYSE: HEXO) this morning announced that it will be conducting an at the market financing, also known as an ATM financing, of up to $150.0 million. The financing is to be facilitated by BMO Capital Markets and Alliance Global Partners on the NYSE, and by BMO Nesbitt Burns on the TSX.

The financing is valid as of an agreement dated today, with the financing to be effective until the earlier of June 7, 2023 and the day on which $150.0 million worth of the firms equity is sold via the facility.

The company outlined a number of potential uses for the proceeds from the financing including costs associated with Hexo’s US expansion plans, which includes, “the contemplated acquisition of a facility in the State of Col‎orado and its subsequent retrofitting and improvement,” as well as capital expenditures such as the expansion of its Belleville, Ontario facility, potential future acquisitions, working capital and debt repayments related to the acquisition of Zenabis Global, and the repayment of additional debt owed by Zenabis. Funds are also to be used for general corporate purposes.

Hexo Corp last traded at $8.71 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.

Video Articles

Silver’s Finally Breaking the System | Keith Neumeyer – First Majestic

The Best News for Gold Was the Drop! – Peter Grandich

McEwen Copper: The Los Azules Feasibility Study

Recommended

Altamira Gold Identifies Presence Of Second Mineralized Porphyry Body At Cajueiro

Steadright To Conduct Multi-Phased Exploration At Historic Goundafa Polymetallic Mine

Related News

Hexo Corp Enters US CBD Marketplace With Truss CBD USA Joint Venture With Molson Coors

Hexo Corp (TSX: HEXO) (NYSE: HEXO) has entered the US CBD market via its joint...

Wednesday, January 13, 2021, 09:27:27 AM

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

Zenabis Global Converts Debt Below All Time Low At $0.04794 Per Share

Conversion prices for Zenabis Global (TSX: ZENA) debt just keeps getting lower. The company issued...

Saturday, October 31, 2020, 12:40:19 PM

Zenabis Global Issues Operations Update

Zenabis Global Inc (TSX: ZENA) has issued an operational update regarding facility licensing and construction,...

Thursday, February 6, 2020, 01:31:33 PM

Sundial Growers Issues Response to Report of Zenabis Returning 554 Kilos of Cannabis

Sundial Growers Inc (NASDAQ: SNDL) quietly issued a response this morning to a report made...

Monday, August 19, 2019, 10:37:13 AM