HEXO Acknowledges Zenabis Group CCAA Filing
GATINEAU, Quebec, June 17, 2022 (GLOBE NEWSWIRE) -- HEXO Corp. (TSX: HEXO; NASDAQ: HEXO) (“HEXO” or the “Company”) acknowledged today that its wholly-owned subsidiary, Zenabis Global Inc. (“Zenabis”), as well as Zenabis’ direct and indirect wholly-owned subsidiaries (collectively, the “Zenabis Group”), have filed a petition with the Superior Court of Québec for protection under the Companies’ Creditors Arrangement Act (“CCAA”) in order to restructure their business and financial affairs. HEXO understands that Ernst & Young Inc. has been appointed as the Monitor to oversee the CCAA proceedings.
- GATINEAU, Quebec, June 17, 2022 (GLOBE NEWSWIRE) -- HEXO Corp. (TSX: HEXO; NASDAQ: HEXO) (HEXO or the Company) acknowledged today that its wholly-owned subsidiary, Zenabis Global Inc. (Zenabis), as well as Zenabis direct and indirect wholly-owned subsidiaries (collectively, the Zenabis Group), have filed a petition with the Superior CourtofQubec for protection under the Companies Creditors Arrangement Act (CCAA) in order to restructure their business and financial affairs.
- HEXO understands that Ernst & Young Inc. has been appointed as the Monitor to oversee the CCAA proceedings.
- The CCAA petition is limited to the Zenabis Group and neither HEXO Corp. nor any of its subsidiaries, other than the members of the Zenabis Group, are petitioners or parties to the CCAA Proceedings.
- The Company also serves the Colorado market through its Powered by HEXO strategy and Truss CBD USA, a joint venture with Molson-Coors.