Keeler wrote: In reality, Zena did not have good products and their quarterly sales have fallen from about $18 million a quarter pre-Hexo to about $8 million a quarter under Hexo.
Zena's Langley and Stellarton faciltiies have been closed and staff termianted - Atholville is next.
It was never a good price - Hexo paid a premium for pos bankrupt Zena, SSL was bluffed by a supposed competing bid from Sundial.
Zena also never possessed the 'immediate access to Europe' that SSL boasted the acquisition gave Hexo. Zena's European 'partner' never had a sales licence! Good DD as usual Hexo. 'Renowned company'?!? Zena was a joke - and on the verge of bankruptcy - it's share price dropped was siting at .05 cents
Hexo had to loan Zena $7 million to pay a debt due to Sundial, followed by an additional $18 million - and Hexo still owed Sundial $50 million as shown on the last quarterly financials. Instead of the announced $245 million - Zena cost over $300 million.
One year ago - tonto posted:
Touran77 - (5/13/2021 8:19:04 AM)
Buy building? Or make sure everyone knows about your brands
Buying buildings is the easiest transaction ever.
You can buy building anytime.
Buying good products for a good price (Zena), that is not easy, that requires excellent negotiation skills.
Partnership with renowned company, that also requires negotiation skills.
Good job SSL.