Cannabis Co. Hexo To Buy Producer Redecan For CA$925M

Law360 (May 28, 2021, 5:39 PM EDT) -- Hexo Corp. said Friday it is acquiring Ontario-based Redecan — Canada's largest privately owned licensed cannabis producer — for CA$925 million ($765.8 million) in a deal steered by Norton Rose Fulbright Canada LLP, DLA Piper LLP and Bennett Jones LLP.

Under the terms of the agreement, the purchase price includes CA$400 million in cash and CA$525 million in the issuance of Hexo common shares at a CA$7.53 price per share, which represents the five-trading-day-period volume-weighted average price of company shares on the Toronto Stock Exchange at the close of Canadian markets Thursday.

Hexo CEO and co-founder Sebastien St-Louis said in a...

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