Tilray Brands Closes $155 Million Investment in HEXO Corp.
Summary
Substantial Savings: The strategic alliance between Tilray Brands and HEXO is expected to deliver up to $80 million of shared cost-savings within the next two years. These efforts will also provide benefits to the U.S. market, upon potential federal legalization.Tilray Brands acquired the HEXO Note from HTI, which has a current principal balance of $173.7 million outstanding. The Tilray Convertible Note bears interest at a rate of 4.00% per annum, calculated and paid on a quarterly basis and matures on September 1, 2023. Any such transaction referred to in this paragraph would be made in compliance with all applicable laws and regulations.A copy of the early warning report required to be filed by Tilray Brands in connection with the acquisition will be filed on SEDAR and made available under HEXOs issuer profile on SEDAR at www.sedar.com.Tilray Brands, Inc. (Nasdaq: TLRY; TSX: TLRY), is a leading global cannabis-lifestyle and consumer packaged goods company with operations in Canada, the United States, Europe, Australia, and Latin America that is changing peoples lives for the better one person at a time. Tilray Brands delivers on this mission by inspiring and empowering the worldwide community to live their very best life and providing access to products that meet the needs of their mind, body, and soul while invoking wellbeing.