Canada's major cannabis producers hexo and tilray brands signed a final agreement on a "strategic alliance". Tilray acquired hexo debt in exchange for the right to buy hexo shares. According to tilray's press release, this will enable tilray to own about 35% of hexo. Hexo said the deal would give the company "greater financial flexibility in its recapitalized balance sheet, which is crucial to accelerating its transformation to a positive cash flow business over the next four quarters." The transaction is expected to be completed by the end of May.
Source: mjbizdaily com/