HEXO Corp. to Acquire Redecan in Third Major Deal of 2021

Article by Emma Spears, Growth Op

News Business HEXO Corp. to acquire Redecan in third major deal of 2021 HEXO will issue $525 million in common stock and $400 million in cash to acquire the family-owned Ontario-based cannabis producer. Author of the article:Emma Spears Publishing date:May 28, 2021 • 4 hours ago • 1 minute read • Join the conversation FILE - A worker inspects cannabis plants growing in a greenhouse at the Hexo Corp. facility in Gatineau, Quebec, Canada, on Thursday, Oct. 11, 2018. FILE - A worker inspects cannabis plants growing in a greenhouse at the Hexo Corp. facility in Gatineau, Quebec, Canada, on Thursday, Oct. 11, 2018. PHOTO BY PHOTO: CHRIS ROUSSAKIS/BLOOMBERG

Gatineau, Quebec-based cannabis producer HEXO Corp. has announced its acquisition of fellow Canadian LP Redecan for $925 million in cash and stocks, positioning the company as one of the biggest adult-use players in Canadian cannabis.

HEXO will issue $525 million in common stock and $400 million in cash to acquire the family-owned Ontario-based cannabis producer. The deal is anticipated to close in the third quarter.

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