HEXO Corp, licensed cannabis company, delivers on commitment to seek a listing on the NYSE
December 21 2018 - 5:00AM
HEXO Corp (“HEXO” or the “Company”) (TSX:HEXO), a leading licensed
cannabis company based in Canada, is pleased to announce that it
has filed an application to list its common shares on the NYSE
American. Listing of the shares on the NYSE American remains
subject to the approval of the NYSE American and the satisfaction
of all applicable listing and regulatory requirements. This is an
important milestone in the Company’s growth and will broaden HEXO’s
exposure to U.S. institutional and retail investors.
HEXO is an award-winning licensed cannabis
company based in Quebec. The Company has the largest single legal
cannabis supply contract in Canadian history as the preferred
supplier to the Société québécoise du cannabis, the provincial
Crown corporation in Quebec responsible for the trade of cannabis
within the province, to supply up to 200,000 kg of cannabis over a
five-year term worth over $1 billion. HEXO also has supply
agreements in British Columbia and Ontario, a strategic investment
in the private cannabis retailer, Fire & Flower and has
garnered the attention of Molson Coors Canada and resulted in the
creation of Truss, an exclusive partnership to develop
non-alcoholic cannabis-infused beverages.
Earlier this year, the Company’s CEO committed
to investors that it would seek a listing on an American stock
exchange by the end of 2018. HEXO continues to build a solid
reputation for diligent and timely execution on commitments, in
support of its aggressive international expansion plan.
“This is a remarkable milestone for our
Company,” said HEXO’s CEO and co-founder Sebastien St-Louis. “We
committed to our shareholders that HEXO would seek a listing in the
US by the end of 2018 and I am proud to say that we delivered. We
have a proven track record for our ability to execute and we will
maintain it through our focus on developing and distributing
innovative consumer-packaged cannabis products.”
HEXO is keenly focused on driving value for its
shareholders through the execution of its hub and spoke business
strategy which sees it partner with Fortune 500 companies in
various product categories, leveraging HEXO’s expertise and product
knowledge with its partners’ established distribution capacity. The
Company has an advanced ability to develop consistent advanced
cannabis experiences for use in world-renowned brands such as
beverages, food, cosmetics and more including an exclusive
partnership with Molson Coors Canada to create Truss.
HEXO is also in the process of establishing a
foothold in Greece to build a Eurozone processing, production, and
distribution centre to unlock access to customers across Europe.
The Company will leverage this approach in other international
markets, including Latin America, as regulations permit.
Upon receipt of all required approvals and
completion of the formal listing process, the Company will publicly
announce its first trading date on the NYSE American. HEXO’s common
shares will trade on the NYSE American under ticker symbol “HEXO”,
the same symbol the Company's common shares currently, and will
continue to, trade under on the Toronto Stock Exchange. HEXO’s
common shares will also continue to trade on the OTC PINK under the
ticker symbol “HYYDF” until completion of the NYSE American
listing.
In connection with its application to list on
the NYSE American, HEXO has filed an amended and restated short
form base shelf prospectus, amending and restating the Company’s
short form base shelf prospectus dated November 19, 2018, with the
securities regulatory authorities in each of the provinces and
territories of Canada, and a corresponding registration statement
on Form F-10 with the U.S. Securities and Exchange Commission
(“SEC”) in accordance with the Multijurisdictional Disclosure
System established between Canada and the United States. The
prospectus and registration statement enable the Company to make
offerings of up to C$800 million of common shares, warrants,
subscription receipts and units or a combination thereof of the
Company from time to time, separately or together, in amounts, at
prices and on terms to be determined based on market conditions at
the time of the offering and as set out in an accompanying
prospectus supplement, during the 25-month period that the
prospectus and registration statement remain effective. The
specific terms of any future offering will be established in a
prospectus supplement to the prospectus, which supplement will be
filed with the applicable Canadian securities regulatory
authorities and the SEC.
A copy of the Company’s amended and restated
shelf prospectus can be found on SEDAR at www.sedar.com, and a copy
of its registration statement can be found on EDGAR at
www.sec.gov.
About HEXO Corp.
HEXO Corp creates and distributes award-winning, innovative,
easy-to-use products to serve the Canadian cannabis market. One of
the country’s lowest-cost producers, HEXO currently operates with
over 310,000 sq. ft. of production capacity with construction on
another 1,000,000 sq. ft. expansion set to be complete by year end.
HEXO serves the adult-use market under the HEXO brand, while
continuing to serve its medical cannabis clients through the
well-known Hydropothecary brand. For more information please visit
hexocorp.com.
Forward-Looking Information
This press release may contain forward-looking information that
is based on certain assumptions and involves known and unknown
risks and uncertainties and other factors that could cause actual
events to differ materially from current assumptions and
expectations. These statements should not be read as guarantees of
future performance or results. Such statements involve known and
unknown risks, uncertainties and other factors that may cause
actual results, performance or achievements to be materially
different from those implied by such statements. A more complete
discussion of the risks and uncertainties facing the Company
appears in the Company’s Annual Information Form and continuous
disclosure filings, which are available on SEDAR’s website at
www.sedar.com. 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.
Neither the Toronto Stock Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the Toronto
Stock Exchange) accepts responsibility for the adequacy or accuracy
of this release.
Investor Relations:Kathy
Chow1-866-438-8429invest@HEXO.comwww.ir.hexo.com
Media Relations:Sarah
Brownmedia@hexo.com819-317-0526
DirectorAdam Miron819-639-5498
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