Hawaii Revises Rules for Medical Cannabis Dispensary Licensing Program – Cannabis Business Times

GATINEAU, Quebec, March 03, 2022 (GLOBE NEWSWIRE) — PRESS RELEASE — HEXO Corp., a producer of cannabis products, today announced that the company has taken a significant step in executing on its strategic plan, The Path Forward, by finalizing a strategic partnership with Tilray Brands, Inc., which includes a new debt financing agreement.

Under the new agreement, Tilray Brands will acquire US$211 million of senior secured convertible notes that were originally issued by HEXO to HT Investments MA LLC. The new terms of the notes are significantly more favorable to HEXO and will enable the company to strengthen its balance sheet and accelerate its transformation into a cash flow positive business within the next four quarters. The new partnership also brings together Canada’s top two cannabis market share leaders and is expected to create efficiencies of up to C$50 million within two years which will be shared equally between HEXO and Tilray Brands.

“My top priority since I joined in November has been to fix a very challenged balance sheet as a result of the notes that were previously put in place, and today, after an exhaustive search for alternatives, we are announcing the most optimal agreement to strengthen our balance sheet, preserve

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