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    HEXO   CA4283043079

HEXO CORP.

(HEXO)
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Hexo : to buy 48North in deal valued at $50 million

05/17/2021 | 09:32am EDT

OTTAWAHexo Corp. says it will buy 48North Cannabis Corp in a deal valued at $50 million.

Ottawa-based Hexo says the deal is structured so 48North shareholders will receive 0.02366 of a Hexo common share, a 20 per cent premium on the 10-day volume-weighted average price.

Hexo says the deal could generate up to $12 million worth of accretive synergies within one year of closing and will position the company to keep growing domestically and internationally.

Hexo says the acquisition will bring the company closer to its goal of achieving a top two position in Canada for adult-use cannabis sales.

Hexo previously announced it would buy pot company Zenabis Global Inc. for $235 million in February, while 48North said in March that it would lay off about 20 per cent of its staff and end outdoor cultivation at an Ontario facility.

The deal has been unanimously approved by both company's boards, but still needs the approval of two-thirds of 48North shareholders and includes a $2 million fee 48North will have to pay Hexo if the deal is terminated.

This report by The Canadian Press was first published May 17, 2021.

Companies in this story: (TSX:HEXO, TSX:ZENA)

© 2021 The Canadian Press. All rights reserved., source Canadian Press DataFile

Stocks mentioned in the article
ChangeLast1st jan.
48NORTH CANNABIS CORP. 2.86% 0.18 Delayed Quote.16.13%
HEXO CORP. 0.12% 8.02 Delayed Quote.71.73%
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Financials
Sales 2021 146 M 120 M 120 M
Net income 2021 -38,8 M -31,9 M -31,9 M
Net cash 2021 22,0 M 18,1 M 18,1 M
P/E ratio 2021 -29,7x
Yield 2021 -
Capitalization 1 180 M 970 M 970 M
EV / Sales 2021 7,93x
EV / Sales 2022 3,95x
Nbr of Employees -
Free-Float 95,1%
Chart HEXO CORP.
Duration : Period :
HEXO Corp. Technical Analysis Chart | MarketScreener
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Technical analysis trends HEXO CORP.
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 13
Average target price 9,94 CAD
Last Close Price 8,02 CAD
Spread / Highest target 74,6%
Spread / Average Target 23,9%
Spread / Lowest Target -25,6%
EPS Revisions
Managers and Directors
NameTitle
SÚbastien St. Louis President, Chief Executive Officer & Director
Trent MacDonald Chief Financial Officer
Michael Munzar Chairman & Medical Director
Donald J. Courtney Chief Operating Officer
Jason G. Ewart Independent Director
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