Get all your news in one place.
100's of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Nina Zdinjak

BREAKING: Tilray Brands And HEXO Form Strategic Alliance, Expecting CA$50M Of Cost Synergies In Two Years

HEXO Tilray Brands HEXO Corp. Tilray Brands, Inc. TSX

HEXO Corp. (TSX:HEXO) (NASDAQ:HEXO) is finalizing a strategic partnership with Tilray Brands, Inc. (NASDAQ:TLRY)  which includes a new debt financing agreement. Under the new agreement, Tilray Brands will acquire $211 million of senior secured convertible notes that were originally issued by HEXO to HT Investments MA LLC.

The new terms of the notes are significantly more favorable to HEXO and will enable the company to strengthen its balance sheet and accelerate its transformation into a cash flow positive business within the next four quarters. The new partnership also brings together Canada’s top two cannabis market share leaders and is expected to create efficiencies of up to CA$50 million ($39.57 million) within two years which will be shared equally between HEXO and Tilray Brands.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
More Than 37,000 Squishy Toys Recalled as Water Beads Inside Can Swell in a Child and Evade X-Rays
About 37,480 squishy toys with water beads are recalled. Learn the warning signs of ingestion and why X-rays may miss swallowed beads.
Medical Daily
Medical Daily
Is Store-Bought Rotisserie Chicken Actually Healthy? Here’s What to Check on the Label
A grocery store rotisserie chicken can make dinner easier without the cost of takeout or the work of cooking from scratch. It provides protein and can be used in salads, sandwiches, soups, and family meals throughout the week. However, not every rotisserie chicken has the same nutritional profile. Some contain…
Grocery Coupon Guide
Grocery Coupon Guide
Why Are Eggs Refrigerated in America but Left on the Shelf in Other Countries?
Walk into a grocery store in the United States, and you will find eggs in a refrigerated section. Visit many European grocery stores, however, and eggs may sit on ordinary shelves at room temperature. This difference often surprises American travelers who wonder why the same food requires different storage methods.…
Grocery Coupon Guide
Grocery Coupon Guide
Kim Kardashian Reveals Five Nannies for Four Kids as Kanye West and Bianca Censori Step Out in Los Angeles
Kanye West and Bianca Censori were seen with Playboi Carti at ComplexCon in Los Angeles, shortly after Kim Kardashian discussed raising their four children and using five nannies.
International Business Times UK
International Business Times UK
Woman says a male canvasser knocked at her door and wanted to talk pro-life. Then she asked him: ‘Have you ever been pregnant?’
She explained why she is pro-choice.
We Got This Covered
We Got This Covered
Doing Everything Right but Still Have Dull Skin? Here’s Why
If this sounds familiar, it doesn't necessarily mean your skincare routine is bad. Healthy-looking skin depends on much more than the products sitting on your bathroom shelf. Dead skin-cell buildup, dehydration, sun exposure, irritation, lifestyle factors and even using too many active ingredients can all affect how your skin looks.…
MyLifeXP
MyLifeXP
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play