On Thursday, HEXO Corp. (NASDAQ:HEXO) finalized a strategic partnership with Tilray Brands, Inc. (NASDAQ:TLRY), which includes a new debt financing agreement under which the Canadian cannabis giant agreed to acquire $211 million of senior secured convertible notes that were initially issued by HEXO to HT Investments MA LLC at 95% of face value.
The deal 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 the two entities.
