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    cannabis investing

    HEXO Closes US$25 Million Registered Direct Offering

    Danielle Edwards
    Jan. 02, 2020 05:20AM PST
    Cannabis Investing News

    HEXO has confirmed the closing its previously announced registered direct offering with institutional investors for US$25 million.

    HEXO (TSX:HEXO,NYSE:HEXO) has confirmed the closing its previously announced registered direct offering with institutional investors for US$25 million.

    As quoted in the press release:

    Under the Offering, the Company sold 14,970,062 common shares at an offering price of US$1.67 per share for gross proceeds of US$25.0 million before deducting fees and other estimated offering expenses. The Company also issued to the investors common share purchase warrants to purchase 7,485,032 common shares of the Company. The warrants will have a five year-term and an exercise price of US$2.45 per share. A.G.P./Alliance Global Partners acted as sole placement agent for the Offering.

    The Offering was made in the United States only under the Company’s amended and ‎restated short form base shelf prospectus dated December 14, 2018 (the “Base Shelf ‎Prospectus”), filed with the securities regulatory authorities in each of the provinces and ‎territories of Canada, and the corresponding registration statement on Form F-10 (the ‎‎“Registration Statement”) filed by the Company with the U.S. Securities and Exchange ‎Commission (“SEC”) under the U.S./Canada Multijurisdictional Disclosure System (“MJDS”).

    Click here to read the full press release.

    tsx:hexocannabis investingnyse:hexo
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