Hexo To Buy Redecan For $925 Million As Hunt For More Cannabis Market Share Continues

Article by CityNews

Hexo to buy Redecan for $925 million as hunt for more cannabis market share continues

Hexo Corp. will buy cannabis producer Redecan in a $925-million deal comprised of cash and shares.

Ottawa-based Hexo says it will pay Toronto’s Redecan $400 million in cash and $7.53 per share for a total of $525 million.

Redecan shareholders will hold about 31 per cent of HEXO’s issued and outstanding common shares immediately following the closing of the transaction.

Hexo says the deal will make it the Canadian volume leader in dried flower across premium, mainstream and value price points and expand its portfolio with Redecan’s oils, capsules, and pre-rolls.

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