Canadian cannabis firms Hexo and Tilray announce new ‘strategic alliance’

Two major Canadian cannabis producers, Hexo and Tilray Brands, have agreed to form a “strategic alliance”, which involves Tilray acquiring Hexo’s debt in exchange for the right to purchase Hexo shares.

Tilray will acquire CAD$243.3m ($193m)) of Hexo senior secured convertible notes from HT Investments, with the right to convert them to Hexo shares at CAD0.85 ($0.65) per share. The debt will bear interest at a rate of 5% per annum, lasting three years to 1st May 2026. Tilray will have the option of either having the loan repaid plus accrued interest or, prior to maturity, converting any amount owed into the ownership position in Hexo.


Benefits of subscription plans:

  • Stay informed of any legal and market change in the sector that impacts your organization
  • Maximise resources by getting market and legal data analysis daily in one place
  • Make smart decisions by understanding how the regulatory and market landscape evolves
  • Anticipate risks in your decisions by monitoring regulatory changes that impact your organization

Need help?

Contact a sales representative right now and don’t wait

Erik Galavis
+34 654 320 547
Email Erik

Pablo Sharrock
+34 722 642 678
Email Pablo