What does the owner of redecan actually do?
"We all wear different hats here," said Will Montour, one of the owners of Redecan, who also manages its sales and marketing operations, in a rare interview with BNN Bloomberg. "Right now, you're talking to the marketing director and one of the head sales guys.
How much of hExo’s shares does redecan own?
It is anticipated that the Redecan shareholders will collectively hold approximately 31% of HEXO’s issued and outstanding common shares immediately following the closing of the Transaction on a pro forma non-diluted basis. Under TSX rules, the Transaction requires a simple majority approval of HEXO’s shareholders.
How much of redecan is owned by AVV?
It also included a 10% royalty to be paid to the current RedeCan owners of 10%, paid equally in cash and stock. The new terms eliminate the royalty and would give AVV a 90% ownership.
What are the terms of the redecan share purchase agreement?
Under the terms of the Share Purchase Agreement, the $925 million purchase price will be paid to the Redecan shareholders as follows: $525 million of consideration due on closing paid through the issuance of HEXO common shares (the “Consideration Shares”) at an implied price per share of $7.53.
Is Redecan a publicly traded company?
Redecan is a family-owned cannabis company that brings quality cannabis to the masses. It is a privately-owned licensed producer, with a leading market share across a number of categories.
Which lp owns Redecan?
HEXO Corp announces acquisition of Redecan to create Canadian market leader in adult-use sales. May 28, 2021 06:30 ET | Source: HEXO Corp. HEXO Corp.
Who bought Redecan?
Hexo Corp.Hexo Corp. is buying privately-held cannabis producer Redecan Pharm in a deal worth almost a billion dollars that marks the latest salvo in the fight to win market share in Canada's hotly-contested legal cannabis industry.
Is Redecan owned by HEXO?
30, 2021 (GLOBE NEWSWIRE) -- HEXO Corp (“HEXO” or the “Company”) (TSX: HEXO; NASDAQ: HEXO) is pleased to announce completion of the previously announced acquisition of all of the outstanding shares of the entities that carry on the business of Redecan, Canada's largest privately-owned licensed producer (the “ ...
How much did Redecan sell for?
Hexo leapfrogs competitors with CA$925 million deal for rival cannabis producer Redecan. Canadian cannabis producer Hexo Corp. struck a definitive deal to buy one of the leading adult-use producers in the country by market share in a cash and stock deal worth 925 million Canadian dollars ($766.4 million).
What companies does HEXO own?
HEXO serves the Canadian recreational market with a brand portfolio including HEXO, Redecan, UP Cannabis, Namaste, Original Stash, 48North, Trail Mix, Bake Sale, RE-UP and Latitude brands and the medical market under HEXO medical cannabis.
What company did HEXO buy?
But with more than three years into Canada's legalization of recreational cannabis, demand for pot and related products is surging and to tap into it, HEXO bought privately owned Canadian cannabis producers Redecan and 48North Cannabis Corp in September.
Will HEXO be bought out?
April 12 (Reuters) - Tilray Brands (TLRY. O) said on Tuesday it had agreed to buy $193 million of Hexo's (HEXO.TO) remaining debt, in a deal that gives the cannabis producer a right to pick up a significant equity stake in its troubled rival.
Where is Redecan grown?
Niagara regionRedecan is a family-owned cannabis company with Indigenous roots. Redecan greenhouses are located in the world-renowned Niagara region, leveraging the unique microclimate of Ontario's Greenbelt in state-of-the-art cannabis growing facilities.
How much did HEXO pay for Redecan?
HEXO Announces Closing of Redecan Transaction At closing, HEXO paid the selling shareholders of Redecan $400 million in cash (subject to certain customary closing adjustments) and delivered 69.7 million newly issued common shares of HEXO (the “Consideration Shares”).
Who are HEXO competitors?
The main competitors of HEXO include HLS Therapeutics (HLS), OrganiGram (OGI), Supreme Cannabis (FIRE), ESSA Pharma (EPI), ICC Labs (ICC), Leaf Mobile (LEAF), Medexus Pharmaceuticals (MDP), BioSyent (RX), Green Organic Dutchman (TGOD), and Delta 9 Cannabis (NINE).
What kind of company is HEXO?
HEXO Corp. creates and distributes cannabis products. The Company offers cannabis peppermint oil, sub-lingual sprays, marijuana powder, dried flowers, and intimate oil. HEXO serves cannabis market worldwide.
Who are HEXO competitors?
The main competitors of HEXO include HLS Therapeutics (HLS), OrganiGram (OGI), Supreme Cannabis (FIRE), ESSA Pharma (EPI), ICC Labs (ICC), Leaf Mobile (LEAF), Medexus Pharmaceuticals (MDP), BioSyent (RX), Green Organic Dutchman (TGOD), and Delta 9 Cannabis (NINE).
When was RTTNews founded?
Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms.
Who owns Redecan?
Co-founded by Pete Montour, Will Montour and Richard Redekop, Redecan is a family-owned and operated Canadian cannabis company, with agricultural roots stretching back 30 years.
What is Redecan Evergreen?
Redecan Evergreen Strains are the pride and joy of our greenhouses. Each strain we produce is cultivated with the utmost care , and these are our most timeless offerings. Be it a dank Wappa, a hard hitting Cold Creek Kush, or a tropical Outlaw, Redecan Evergreens are distinctly recognizable and a consistent top choice for cannabis enthusiasts across the nation.
What is the purpose of smelling terpenes?
Inhaling or smelling terpenes to derive natural benefits goes hand-in-hand with the concept of aromatherapy . Terpenes are aroma and taste molecules commonly produced in all plants, fruit and cannabis. Secreted by the same glands that produce THC and CBD, terpene combinations are what make cannabis strains unique.
How many terpenes are in redecan?
There are hundreds of organic terpenes in existence and over 100 of these terpenes have been found in the cannabis plant. Take a look to learn about nine of the most common terpenes found in Redecan cannabis products.
Where is Redecan located?
This is our house. Redecan greenhouses are located in the world-renowned Niagara region, leveraging the unique microclimate of Ontario’s Greenbelt in state-of-the-art cannabis growing facilities.
What are the two most likely outcomes for Hexo?
It looks like the two most likely outcomes for HEXO are: Scenario 1: HEXO defaults on its debt in May 2023 and goes bankrupt. Scenario 2: HEXO wins Canada, but dilutes investor ownership by 56%. This puts HEXO Corp shareholders in a bind as the stock price will be lower than today in both scenarios.
When is Hexo due to pay off debt?
According to analyst estimates for EBITDA (a measure of cashflow) over the next 3 years, HEXO will have very little chance of paying off the debt off when it comes due in May of 2023 – even with additional cashflow from the Redecan acquisition. Therefore, the most likely outcome will be another flood of stock (share dilution).
Is Hexo a Redecan?
Hexo has gained a major asset by picking up Redecan’s “Redee” pre-rolled cigarette-like product. Redecan Redees lead in market share in British Columbia, Alberta, Saskatchewan, and Ontario. Overall, this acquisition is a bold move; Rede can had a long-term goal of becoming a top 3 Canadian cannabis company, and now has the aim ...
Who is Scott Grizzle?
Scott has over 12 years of institutional investment management experience analyzing both debt and equity securities. He has held senior investment research roles at Credit Suisse, and TD Asset Management. His core areas of investment coverage at Grizzle include marijuana, energy and technology. Scott is a CFA charterholder and has been featured on Bloomberg, CBC, CNBC and Macleans.
