HEXO Corp.’s Shareholders Approve Note Transaction with Tilray Brands
GATINEAU, Québec, July 05, 2022 (GLOBE NEWSWIRE) -- HEXO Corp (“HEXO” or the “Company”) (TSX: HEXO; NASDAQ: HEXO) is pleased to announce that at its reconvened special meeting of shareholders held today (the "Meeting"), holders ("Shareholders") of common shares of HEXO ("Common Shares") approved the previously announced transaction (the “Note Transaction”) with Tilray Brands, Inc. (“Tilray Brands”) (Nasdaq | TSX: TLRY) and HT Investments MA LLC (“HTI”). The Meeting was originally held on June 14, 2022 and was adjourned prior to Shareholders voting on the Note Transaction in order to provide Shareholders with additional time to consider the previously announced amendments to the Note Transaction.
- GATINEAU, Qubec, July 05, 2022 (GLOBE NEWSWIRE) -- HEXO Corp (HEXO or the Company) (TSX: HEXO; NASDAQ: HEXO) is pleased to announce that at its reconvened special meeting of shareholders held today (the "Meeting"), holders ("Shareholders") of common shares of HEXO ("Common Shares") approved the previously announced transaction (the Note Transaction) with Tilray Brands, Inc. (Tilray Brands) (Nasdaq | TSX: TLRY) and HT Investments MA LLC (HTI).
- The Meeting was originally held on June 14, 2022 and was adjourned prior to Shareholders voting on the Note Transaction in order to provide Shareholders with additional time to consider the previously announced amendments to the Note Transaction.
- At the Meeting, Shareholders voted in favour of the ordinary resolution (the Note Amendment Resolution) to approve certain aspects of the Note Transaction, which provides for the amendment to the terms of the outstanding senior secured convertible note (the Note) originally issued by HEXO to HTI and the execution of an amended and restated Note (the Amended Note) with HTI that will be immediately thereafter assigned to Tilray Brands pursuant to the terms of an assignment and assumption agreement.
- The Note Amendment Resolution was approved by 87.246% of the votes cast by Shareholders at the Meeting.