RE:HEXO Discloses Potential Acquisition of US FacilitySSL - if you can believe him - also said that Hexo, in no way, shape or form would ever conduct anything remotely conncted to cannabis in Colorado or any other state until it was federally legalized.
Regardless, they bought Zena to pay off their debt I guess, because they didn't need it otherwise. Now the focus is on the U.S..?
Why didn't they just buy a vertically integrated U.S. MSO in the frist place - which is all I asked from day1?
$265 million for Newstrike
$255 million for Zena
$500 million would have bought something nice in the US.
quinlash - (5/11/2021 11:11:30 AM) HEXO Discloses Potential Acquisition of US Facility In today's news release HEXO indicated a potential US acquistion of a facility.
Link to May 11th, 2021 News Release
https://www.globenewswire.com/news-release/2021/05/11/2227270/0/en/HEXO-Corp-Announces-At-the-Market-Offering-of-up-to-C-150-000-000.html
Taken from Today's NR
The Company expects to use the net proceeds from the ATM Program for general corporate purposes, which may include: (i) costs associated with the Company’s U.S. expansion plans including the contemplated acquisition of a facility in the State of Colorado and its subsequent retrofitting and improvement;