Hexo's reconvened Special Meeting held Today - July 4Too bad Hexo didnt issue a press release regarding the Special Meeting held today, where they approved another 25% common shares, gave control of the company to Tilray - and best of all, issuing shares below market rpice in order to pay bills.
Brilliant.
REPORT ON VOTING RESULTS Section 11.3 of National Instrument 51-102 – Continuous Disclosure Obligations
Following the reconvened special meeting of shareholders of HEXO Corp. (the “Corporation”) held on July 4, 2022 (the “Meeting”), in accordance with Section 11.3 of National Instrument 51- 102 – Continuous Disclosure Obligations, we hereby advise you of the following voting results obtained at the Meeting:
1. Note Amendment Shareholders authorized and approved certain amendments to the Corporation’s senior secured convertible note as required pursuant to the rules of the Toronto Stock Exchange (the “TSX”), including (i) the potential issuance of more than 25% of the issued and outstanding common shares (on a non-diluted basis) in connection with the Amended Note (as defined in the Circular and the supplement to the Circular for the Meeting); (ii) the issuance of common shares to Tilray Brands, Inc., the proposed holder of the Amended Note, which may “materially affect control” of the Corporation; and (iii) the potential issuance of common shares by the Corporation at a price less than the market price of the common shares less the maximum allowable discount, both as determined by TSX rules, in the event that it wishes to or is required to satisfy certain redemption or other payments under or in connection with the Amended Note in common shares.
Votes For % Votes Against % 64,456,892 87.246% 9,422,772 12.754%
For additional information, please see the Corporation’s management information circular filed in connection with the Meeting, which is available on SEDAR at www.sedar.com.
Dated this 4 th day of July, 2022. HEXO Corp. (signed) “Charlie Bowman” Charlie Bowman President and Chief Executive Officer