HEXO Corp Announces Repayment of 8.0% Unsecured Convertible Debentures
December 06 2022 - 7:30AM
HEXO Corp. (TSX: HEXO; NASDAQ: HEXO) ("HEXO" or the “Company”), a
leading producer of high-quality cannabis products, today announced
that it has repaid the total outstanding principal amount of the
Company’s 8% unsecured convertible debentures issued December 5,
2019, which matured on December 5, 2022 in the amount of C$40.14
million together with all accrued and unpaid interest.
“Repaying this debt marks a key milestone as we
continue to build investor confidence,” said Charlie Bowman, CEO of
HEXO. “Over the past six months, our aggressive cost cutting
strategy has reduced our overall debt and improved our balance
sheet, positioning HEXO for sustainable growth and long-term
financial success."
Forward-Looking Statement
This press release contains forward-looking
information and forward-looking statements within the meaning of
applicable securities laws (“Forward-Looking Statements”).
Forward-Looking Statements are based on certain expectations and
assumptions and are subject to known and unknown risks and
uncertainties and other factors that could cause actual events,
results, performance and achievements to differ materially from
those anticipated in these Forward-Looking Statements.
Forward-Looking Statements should not be read as guarantees of
future performance or results. Readers are cautioned not to place
undue reliance on these Forward-Looking Statements, which speak
only as of the date of this press release. The Company disclaims
any intention or obligation, except to the extent required by law,
to update or revise any Forward-Looking Statements as a result of
new information or future events, or for any other reason. The
following press release should be read in conjunction with the
management’s discussion and analysis (“MD&A”) and consolidated
financial statements and notes thereto as at and for the year ended
July 31, 2022. Additional information about HEXO is available on
the Company’s profile on SEDAR at www.sedar.com and EDGAR at
www.sec.gov, including the Company’s Annual Information Form for
the year ended July 31, 2022 dated October 31, 2022.
About HEXO Corp.HEXO is an
award-winning licensed producer of innovative products for the
global cannabis market. HEXO serves the Canadian recreational
market with a brand portfolio including HEXO, Redecan, UP Cannabis,
Original Stash, 48North, Trail Mix, Bake Sale and Latitude brands,
and the medical market in Canada and Israel. With the completion of
HEXO's acquisitions of Redecan and 48North, HEXO is a leading
cannabis products company in Canada by recreational market share.
For more information, please visit hexocorp.com.
For HEXO media or investor inquiries
please contact:Hayley Suchanek, Kaiser & Partners
hayley.suchanek@kaiserpartners.com
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