HEXO to Raise Up to 1.2 Billion Canadian Dollars in Fresh Capital
© Provided by The Motley Fool HEXO to Raise Up to 1.2 Billion Canadian Dollars in Fresh Capital
Hardly for the first time in its corporate life, HEXO (NYSE: HEXO) is gearing up to raise some funds. The company announced on Thursday that it has filed regulatory paperwork stating that it aims to amass up to 1.2 billion Canadian dollars ($958 million) over the next 25 months. This can, and likely will, take different forms, including the issuance of stock, warrants, or the combination of the two known as "units" -- an increasingly common instrument of fund-raising issued by marijuana companies of late.
In its press release trumpeting the declaration, HEXO quoted its CEO Sebastien St-Louis as saying that the monies raised will "provide maximum flexibility as we continue to pursue strategic initiatives in both the United States and Canada."
"We have now started to deploy capital in the United States, are remaining active in [mergers and acquisitions] and are in ongoing discussions with potential non-beverage [consumer packaged goods] partners which we expect will require additional capital as we continue to execute on our growth and expansion strategy," he added without providing further detail.
HEXO has recently put its money where its mouth is, in terms of acquisitions and partnerships. In February, the company announced it struck a deal to buy Zenabis Global, a Canadian peer, for the equivalent of $186 million. The company is also teaming up with brewer Molson Coors Brewing to co-develop cannabis-laced drinks, a product that could be a big hit in the U.S. in particular if federal marijuana laws are ever relaxed.
Investors, however, are likely concerned that the upcoming capital raises will dilute their share holdings. On Friday, HEXO stock fell by 3.2%, in contrast to the nearly 0.4% gain of the S&P 500 index.
Video: Valuations in international markets are cheaper than U.S.: Wealth advisor (CNBC)
Valuations in international markets are cheaper than U.S.: Wealth advisor
SHARE
SHARE
TWEET
SHARE
Click to expand
UP NEXT
SPONSORED:
Here's The Marijuana Stock You've Been Waiting ForA little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 15 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the© Provided by The Motley Fool HEXO to Raise Up to 1.2 Billion Canadian Dollars in Fresh Capital
Hardly for the first time in its corporate life, HEXO (NYSE: HEXO) is gearing up to raise some funds. The company announced on Thursday that it has filed regulatory paperwork stating that it aims to amass up to 1.2 billion Canadian dollars ($958 million) over the next 25 months. This can, and likely will, take different forms, including the issuance of stock, warrants, or the combination of the two known as "units" -- an increasingly common instrument of fund-raising issued by marijuana companies of late.
In its press release trumpeting the declaration, HEXO quoted its CEO Sebastien St-Louis as saying that the monies raised will "provide maximum flexibility as we continue to pursue strategic initiatives in both the United States and Canada."
"We have now started to deploy capital in the United States, are remaining active in [mergers and acquisitions] and are in ongoing discussions with potential non-beverage [consumer packaged goods] partners which we expect will require additional capital as we continue to execute on our growth and expansion strategy," he added without providing further detail.
HEXO has recently put its money where its mouth is, in terms of acquisitions and partnerships. In February, the company announced it struck a deal to buy Zenabis Global, a Canadian peer, for the equivalent of $186 million. The company is also teaming up with brewer Molson Coors Brewing to co-develop cannabis-laced drinks, a product that could be a big hit in the U.S. in particular if federal marijuana laws are ever relaxed.
Investors, however, are likely concerned that the upcoming capital raises will dilute their share holdings. On Friday, HEXO stock fell by 3.2%, in contrast to the nearly 0.4% gain of the S&P 500 index.
Video: Valuations in international markets are cheaper than U.S.: Wealth advisor (CNBC)
Valuations in international markets are cheaper than U.S.: Wealth advisor
SHARE
SHARE
TWEET
SHARE
Click to expand
UP NEXT
SPONSORED:
Here's The Marijuana Stock You've Been Waiting ForA little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 15 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.© Provided by The Motley Fool HEXO to Raise Up to 1.2 Billion Canadian Dollars in Fresh Capital
Hardly for the first time in its corporate life, HEXO (NYSE: HEXO) is gearing up to raise some funds. The company announced on Thursday that it has filed regulatory paperwork stating that it aims to amass up to 1.2 billion Canadian dollars ($958 million) over the next 25 months. This can, and likely will, take different forms, including the issuance of stock, warrants, or the combination of the two known as "units" -- an increasingly common instrument of fund-raising issued by marijuana companies of late.
In its press release trumpeting the declaration, HEXO quoted its CEO Sebastien St-Louis as saying that the monies raised will "provide maximum flexibility as we continue to pursue strategic initiatives in both the United States and Canada."
"We have now started to deploy capital in the United States, are remaining active in [mergers and acquisitions] and are in ongoing discussions with potential non-beverage [consumer packaged goods] partners which we expect will require additional capital as we continue to execute on our growth and expansion strategy," he added without providing further detail.
HEXO has recently put its money where its mouth is, in terms of acquisitions and partnerships. In February, the company announced it struck a deal to buy Zenabis Global, a Canadian peer, for the equivalent of $186 million. The company is also teaming up with brewer Molson Coors Brewing to co-develop cannabis-laced drinks, a product that could be a big hit in the U.S. in particular if federal marijuana laws are ever relaxed.
Investors, however, are likely concerned that the upcoming capital raises will dilute their share holdings. On Friday, HEXO stock fell by 3.2%, in contrast to the nearly 0.4% gain of the S&P 500 index.
Video: Valuations in international markets are cheaper than U.S.: Wealth advisor (CNBC)
Valuations in international markets are cheaper than U.S.: Wealth advisor
SHARE
SHARE
TWEET
SHARE
Click to expand
UP NEXT
SPONSORED:
Here's The Marijuana Stock You've Been Waiting ForA little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 15 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more© Provided by The Motley Fool HEXO to Raise Up to 1.2 Billion Canadian Dollars in Fresh Capital
Hardly for the first time in its corporate life, HEXO (NYSE: HEXO) is gearing up to raise some funds. The company announced on Thursday that it has filed regulatory paperwork stating that it aims to amass up to 1.2 billion Canadian dollars ($958 million) over the next 25 months. This can, and likely will, take different forms, including the issuance of stock, warrants, or the combination of the two known as "units" -- an increasingly common instrument of fund-raising issued by marijuana companies of late.
In its press release trumpeting the declaration, HEXO quoted its CEO Sebastien St-Louis as saying that the monies raised will "provide maximum flexibility as we continue to pursue strategic initiatives in both the United States and Canada."
"We have now started to deploy capital in the United States, are remaining active in [mergers and acquisitions] and are in ongoing discussions with potential non-beverage [consumer packaged goods] partners which we expect will require additional capital as we continue to execute on our growth and expansion strategy," he added without providing further detail.
HEXO has recently put its money where its mouth is, in terms of acquisitions and partnerships. In February, the company announced it struck a deal to buy Zenabis Global, a Canadian peer, for the equivalent of $186 million. The company is also teaming up with brewer Molson Coors Brewing to co-develop cannabis-laced drinks, a product that could be a big hit in the U.S. in particular if federal marijuana laws are ever relaxed.
Investors, however, are likely concerned that the upcoming capital raises will dilute their share holdings. On Friday, HEXO stock fell by 3.2%, in contrast to the nearly 0.4% gain of the S&P 500 index.
Video: Valuations in international markets are cheaper than U.S.: Wealth advisor (CNBC)
Valuations in international markets are cheaper than U.S.: Wealth advisor
SHARE
SHARE
TWEET
SHARE
Click to expand
UP NEXT
SPONSORED:
Here's The Marijuana Stock You've Been Waiting ForA little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 15 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
Eric Volkman has no position in any of the stocks mentioned. The Motley Fool recommends HEXO Corp. The Motley Fool has a disclosure policy.
Eric Volkman has no position in any of the stocks mentioned. The Motley Fool recommends HEXO Corp. The Motley Fool has a disclosure policy.
Learn more
Eric Volkman has no position in any of the stocks mentioned. The Motley Fool recommends HEXO Corp. The Motley Fool has a disclosure policy.
full story now.
Learn more
Eric Volkman has no position in any of the stocks mentioned. The Motley Fool recommends HEXO Corp. The Motley Fool has a disclosure policy.
Where Is Islam Growing in the World?
- Where Is Islam Growing in the World?Where Is Islam Growing in the World?Where Is Islam Growing in the World?