No New Financing Tonight After Close.... orwill it be some other bad news like, more layoffs and 'synergies'.
I posted earlier that I dont think a new financing is imminent - just because of the fact that Hexo wouldnt have had to sell it's 25% stake in Belleville if some other funding was coming in the near future. My guess is that they cant find an underwriter who wants to be involved - but I'm sure they'res till working on it. I assume they using the ATM as required for cash
My guess is that Hexo is having less than positive results with underwriters, financial institutions, underwriters, Molson Coors and the Quebec Dept of Social Assistance. Almost all assets are tied up as security on the Notes - so not much to sell there and they'd be getting fire sale prices anyway (like the $10 million for Belleville)
So as discussed here previously, looks like the Montour, First Nation and Hells Angel congolmerate will end up with some nice facilities - I doubt if they or anyone actually wants ALL of Hexo's facilities - and that Hexo investors provided teh cash and resoucres to do it.
Molson will buy out Truss - and poor old Hexo will drfift away, like SSL on his $200,000 boat at the lake.
Hexo's 'Path Backward' is basically nothing more than cutting jobs and closing facilities - and they'll now try what they should have tried to begin with, becoming a vertically integrated company - seed to shelf. Like I said they should when they bought Zenabis, a bad business decision.