- Canadian cannabis player HEXO Corp ( NASDAQ: HEXO ) announced on Tuesday that the company’s shareholders voted in favor of its previously disclosed transaction of convertible notes with its domestic rival Tilray ( TLRY ).
- ~87% of votes were in favor of approving certain terms of the deal, the company said following a reconvened special meeting of shareholders today.
- ~18% of the company’s common shares were represented at the meeting, which was initially scheduled for June 14.
- However, the meeting was adjourned to provide investors more time to evaluate the previously announced amendments to the transaction.
- Under the deal anticipated to close in 3Q 2022, Tilray ( TLRY ) is set to purchase as much as $185M of debt Hexo ( HEXO ) has issued to funds affiliated with HT Investments.
For further details see:
HEXO wins shareholder approval for note transaction with Tilray