Zenabis Sees Shareholders, Courts Approve Hexo Arrangement

Zenabis Global (TSX: ZENA) is near the finish line for its merger arrangement with that of Hexo Corp (TSX: HEXO) (NYSE: HEXO). The company last night formally announced that it has obtained a final court order from the Supreme Court of British Columbia approving the transaction.

Yesterday evening’s announcement comes on the heals of an approval being received by the firms shareholders on May 13 at a special meeting of shareholders. With the major hurdles passed, the company is now just working through customary closing conditions, including final approval of the transaction from the TSX.

The transaction is expected to close June 1, 2021 as a result.

The transaction will see Zenabis shareholders receive 0.01772 shares of Hexo for every share of Zenabis held. The exchange ratio currently implies a value of $0.14 per Zenabis share as of yesterday’s closing prices.

Zenabis Global last traded at $0.125 on the TSX.


Information for this briefing was found via Sedar and Zenabis Global. 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

Why $50 Silver, $4000 Gold Might Be Closer Than Anyone Thinks | Bradley Langille – GoGold Resources

Why Silver’s True Price Could Be Much Higher | Joaquín Marias – Argenta Silver

Gold Enters A ‘Stronger For Longer’ Phase | Richard Young – i-80 Gold

Recommended

Emerita Resources Intersects Further Mineralization At El Cura, Expanding Deposit

ESGold Sees ANT Survey Reveal Vertically Continuous System To 1,200 Metres Depth

Related News

Hexo Sells Niagara Facility For $10.25 Million

Hexo Corp (TSX: HEXO) (NYSE: HEXO) has sold its Niagara, Ontario facility. The company announced...

Wednesday, June 17, 2020, 08:49:01 PM

Zenabis Global Sells Bevo Agro, Arranges $7.0 Million Cannabis Purchase To Satisfy Certain Debt

Zenabis Global (TSX: ZENA) this morning announced that it has sold off that of Bevo...

Monday, January 4, 2021, 08:34:17 AM

Hexo Corp Names Acting Chief Financial Officer

Hexo Corp (TSX: HEXO) has named a new chief financial officer. The appointment follows the...

Wednesday, January 5, 2022, 08:21:08 AM

Public Cannabis Companies Have Already Received More Than $25 Million in Federal Wage Subsidies

In response to the spread of COVID-19, the Canadian Federal Government introduced several programs to...

Saturday, November 14, 2020, 10:00:00 AM

Black Thursday in The Cannabis Sector

It was a black day for the cannabis sector today after numerous firms reported declining...

Thursday, November 14, 2019, 07:26:33 PM