Guys like quinlash worship SSL for buying worthless companies such as Zenabis and 48N - driving the so called 'billion dollar startup' into the ground with incompetence and arrogance.
As below, not only is Tilray getting Hexo at a cost below Hexo's value - Hexo will GIVE Tilray the empty quonset in Fort Colorado (he only thing it was used for was a Men's Social Club called the Hell's Angels who may hav had a connection to Redecan), the Brantford facility plus $1 million and $10 million in cash.
Seems fair.
Meanwhile, SSL sits pretty with the millions he made from Hexo - certainly a worthwhile investment for HIM, how did you family group do quinlash?
quinlash had my previous post suggesting he had a SSL poster on his bedroom wall (for 'bullying'). Well, I just want to apoligize for offending quinlash who is apparently very 'touchy' on the subject of SSL. I now realize quinlash can idolize anyone he wants, regardless if that persons incompetece and arrogance caused many to lose 10s of thousands of personal dollars.
Hexo To Be Acquired By Tilray For US$56.0 Million
It appears that Sebastian St-Louis’s “billion dollar start-up” has finally been sold. Hexo Corp (TSX: HEXO) this evening revealed that it would be acquired by Tilray Brands (TSX: TLRY) in an all-stock transaction.
For US$56.0 million.
The deal will see Hexo shareholders receive 0.4352 shares of Tilray for each share of Hexo currently held, equating to a price of $1.62 per share as of the market close today. Hexo meanwhile closed the day at $2.23, with the sale representing a loss for shareholders based on the current equity price. The price paid is said to represent a price of US$1.25 per share, based on the 60-day volume weighted average price of Hexo on the Nasdaq, a justification shareholders will surely enjoy.
The transaction remains subject to shareholder and customary approvals. It is currently expected that the transaction will close shortly after the shareholder meeting, which is scheduled for June 22, 2023.
As part of the proposed transaction, Tilray has waived certain debt covenants related to monies owed by Hexo to Tilray. In exchange, Hexo has transferred its real estate properties in Fort Collins, Colorado, worth US$6.0 million to Tilray, and will pay an additional US$1.0 million in cash or via the transfer of certain real estate in Brantford, Ontario. An additional payment of up to US$10.0 million may also be made, for consideration of the termination of the services arrangement between the two entities.