trending Market Intelligence /marketintelligence/en/news-insights/trending/c2sRlTyfk4OuqRf441mimw2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Canada's HEXO closes C$263M all-stock acquisition of Newstrike Brands

Blog

Q1 2021 Global Capital Markets Activity: SPAC IPOs, Issuance in Consumer Discretionary Sector Surge

Blog

COVID-19 Impact & Recovery: Private Equity

COVID-19 Impact & Recovery: Corporates

Blog

COVID-19 Impact & Recovery: Investment Banking


Canada's HEXO closes C$263M all-stock acquisition of Newstrike Brands

Canadian packaged goods cannabis company HEXO Corp. closed its planned C$263 million all-stock acquisition of Toronto-based Newstrike Brands Ltd.

The Canadian Competition Bureau approved the transaction earlier in the month.

Newstrike is the parent company of Up Cannabis Inc., a producer of cannabis licensed to cultivate and sell cannabis in all acceptable forms.

Under the terms of the transaction, Newstrike shareholders received 0.06332 of a HEXO common share for each Newstrike common share held. HEXO shareholders will own about 86% of the combined company, and Newstrike shareholders will own 14%.

Newstrike will be delisted from the TSX Venture Exchange by May 28.