OTTAWA and TORONTO, May 17, 2021 (GLOBE NEWSWIRE) -- HEXO Corp. ("HEXO") (TSX: HEXO; NYSE: HEXO) and 48North Cannabis Corp ("48North") (TSX-V: NRTH) are pleased to announce that they have entered into a definitive arrangement agreement (the "Arrangement Agreement") under which HEXO will acquire, by way of court-approved plan of arrangement under the Canada Business Corporations Act , all of 48North’s issued and outstanding common shares in an all-share transaction valued at approximately $50 million on an enterprise value basis (the "Transaction").