RE:TilrayZenabis - a Hexo subsidiary - owed Sundial $60 million, which they/Hexo defaulted on and declared bankruptcy. Obviously, Hexo didnt have the cash and Tilray wasn't interested in investing any more money tin order to keep the Zenabis faciltiies (valued at $110 million) - Atholville, Stellarton and $30 million in inventory - along with the EU-GMP cetrtification and existing Zenabis customers in Europe and Israel.
Think about that - and now remember that Hexo OWES Tilray UPWARDS OF $200 MILLION+, al things taken into account.
The only facilities Zenabis has left are the Redecan facility, Gaitineau and teh vacant unused Fort Collins quonset (that requires $70 million to renovate)
And keep in mind that Tilray already has 50% ownership of Hexo - at .40 cents a share.
It seems clear that Tilray doesnt have to BUY Hexo - like Sundial did with Zenabis, Tilray can just let Hexo go bankrupt and get them for almost nothing thru the bankruptcy process.
I have confirmed this with my neighbour's cousin who drove by Gatineau on his way to Stellarton - and said it was on BNN
HOURGLASSCANADA - (11/25/2022 12:38:40 PM)
Tilray
Is tilray going to buy hexo?