60 F
New York
Friday, May 7, 2021

HEXO Corp [NYSE: HEXO] Inked An Agreement To Purchase Zenabis Global

Must read

Coinbase Pro Announces it will be Listing Internet Computer’s ICP

Coinbase Pro cryptocurrency exchange has disclosed that it has decided to list ICP once it goes live. ICP is the governance token of the...

WISeKey [NASDAQ: WKEY] Gets Investment to finance its TrustNFT.IO NFT Platform

WISeKey International Holding AG disclosed Friday that it has inked a term-sheet to enter into an unsecured short-term loan and the issuance and...

Moderna [NASDAQ: MRNA] Inks Supply Agreement with Switzerland

Moderna, Inc. disclosed that it has inked a supply agreement on Thursday with the Swiss Federal Government. As per the agreement, Moderna Inc...

TeraBlock Will Have its Own BSCPad IDO Soon

TeraBlock which is a project making a platform for automated cryptocurrency portfolio management disclosed that it is preparing for an initial DEX offering (IDO)...

HEXO Corp [NYSE: HEXO] revealed that the company has inked a contract with Zenabis Global to purchase its share. Under the contract, HEXO will purchase all issued and outstanding stock of Zenabis in an all-stock transaction valued at $235 Million.

The Transaction was affirmed by the board of directors of HEXO and Zenabis. Moreover, Zenabis’s directorate collectively suggests that its investors vote for the Transaction. The Transaction gives HEXO quick access to the European clinical cannabis market through Zenabis’s local accomplice, with a setup facility. The facility will be in the European Union providing pharmaceutical items to the European market.

The facility additionally fills in as a European Union Good Manufacturing Practice bundling and distribution place for clinical cannabis items delivered in Zenabis’ Atholville Facility. The proposed Transaction would give HEXO access to the authorized ability to deliver 111,200 kg of extra top-notch cannabis yearly.

The Transaction would bring about HEXO purchasing two indoor offices (roughly 635,000 sq. ft.) and access to a 2.1 million sq. ft. greenhouse facility. This provides a platform for development and establishment from which to fortify and diversify our portfolio of brands.

Sebastien St-Louis, CEO of HEXO said, “We’re excited to invite the Zenabis group into the HEXO family. Zenabis has constructed strong connections. Moreover, they share HEXO’s vision of bringing outstanding branded cannabis encounters to adults, in Canada and abroad. We are going forward with this acquisition because we think that it ought to be accretive for our investors. Furthermore, it will position HEXO for rapid domestic and global development”

More articles

Latest article

Why Chiasma [NASDAQ: CHMA] Stock is Skyrocketed?

Shares of Chiasma, Inc. surged 46.48% during the trading session of Wednesday. Chiasma has disclosed the financial results for the Q1 completed March...

NeoGenomics [NASDAQ: NEO] Announces Acquisition of Inivata Ltd

NeoGenomics, Inc. revealed Wednesday that it has decided to purchase Inivata Ltd. Inivata will grow into a liquid biopsy-centered division together with increasing...

R1 RCM [NASDAQ: RCM] Announces Acquisition of VisitPay

R1 RCM Inc. disclosed Tuesday that it has decided to purchase VisitPay. The firm has inked an agreement to buy VisitPay for nearly...

Binance Coin Makes History as its Market Cap Reach $100 Billion

The market capitalization of Binance set new records as the exchange token of Binance and the native asset of Binance Smart Chain (BSC) touched...

Precipio [NASDAQ: PRPO] Roll Out Rapid COVID-19 Antibody test on Amazon Platform

Shares of Precipio, Inc. skyrocketed 40.35% during the trading session of Monday. The strong performance of the firm has highlighted the positive sentiments...

TechX Ink Deal to Buy Fiat-to-Crypto Merchant Services Gateway XPort Digital

TechX Technologies Inc disclosed Monday that it has bought fiat-to-crypto merchant services gateway XPort digital. The firm has bought a 100% stake in XPort...

Lockheed [NYSE: LMT] Present F-35 Best and Final Offer to Finnish Government

Lockheed Martin Corporation disclosed that it has presented F-35 best and final offer (BAFO) on April 29, 2021, to the Finnish government. It...

Clene [NASDAQ: CLNN] Gets Two Patent Notice of Allowances

Clene Inc. disclosed that Clene Nanomedicine, Inc. U.S. Patent and Trademark Office has provided Notices of Allowance for two significant patent applications. Clene...