Canadian cannabis firms Hexo and Tilray announce new ‘strategic alliance’

Two major Canadian cannabis producers, Hexo and Tilray Brands, have agreed to form a “strategic alliance”, which involves Tilray acquiring Hexo’s debt in exchange for the right to purchase Hexo shares.

Tilray will acquire CAD$243.3m ($193m)) of Hexo senior secured convertible notes from HT Investments, with the right to convert them to Hexo shares at CAD0.85 ($0.65) per share. The debt will bear interest at a rate of 5% per annum, lasting three years to 1st May 2026. Tilray will have the option of either having the loan repaid plus accrued interest or, prior to maturity, converting any amount owed into the ownership position in Hexo.

Read full article
I'm already a subscriber
Author default picture

Lorraine Mullaney

Senior writer
Lorraine is responsible for writing news analysis and assisting with copy-editing. Lorraine is a copywriter and editor who has written and edited words for a wide range of audiences, from local community newspapers to consumer magazines and trade websites.

Our Key Benefits

The global cannabis market is in an opaque regulatory environment that requires professionals to be on top of industry developments to make informed decisions and optimise their strategy.

CannIntelligence provides organisations with leading market and regulatory data analysis to anticipate and understand market developments globally and the impact of regulatory changes to the business.

  • Stay informed of any legal and market change in the sector that impacts your organisation
  • Maximise resources by getting market and legal data analysis daily in one place
  • Make smart decisions by understanding how the regulatory and market landscape evolves
  • Anticipate risks in your decisions by monitoring regulatory changes that impact your organization