OTTAWA, Aug. 13, 2021 (GLOBE NEWSWIRE) – HEXO Corp (“HEXO” or the “Company”) (TSX: HEXO; NYSE: HEXO) today announced that it has applied to transfer its listed shares in the United States, which will no longer be traded on the New York Stock Exchange, but on the Nasdaq. While this transfer remains subject to Nasdaq approval, the Company expects the transfer to take effect on August 23, 2021 at market close. Trading in the common shares of HEXO listed on the Nasdaq is expected to begin on August 24, 2021. Their symbol “HEXO” will not change.
“The transfer of our US listing to Nasdaq allows us to generate shareholder value and achieve increased savings as part of our efforts to achieve profitability,” said Sébastien St-Louis, CEO and co-founder of HEXO. Additionally, we join our peers on a leading global exchange. We are grateful for the collaboration and support of the New York Stock Exchange, which has enabled us to become one of the first publicly traded cannabis companies in the United States. “
Shares currently held by retail and institutional investors will automatically transfer to Nasdaq. The current shareholders have no action to take in this regard. The last day of trading of the Company’s common shares on the NYSE is scheduled for August 23, 2021.
HEXO is an award-winning licensed producer of innovative products for the global cannabis market. HEXO serves the Canadian recreational cannabis market with its portfolio of HEXO, UP Cannabis, Original Stash, Bake Sale, Namaste and REUP brands, as well as the medical market in Canada, Israel and Malta. The Company also serves the Colorado market through its Powered by HEXO® strategy and Truss CBD USA, a joint venture with Molson Coors. In the event that the previously announced acquisitions of 48North and Redecan are completed, HEXO expects to lead the cannabis products industry in Canada in terms of recreational cannabis market share.
For more information, visit the website www.hexocorp.com.
This press release contains forward-looking information and forward-looking statements within the meaning of applicable securities laws (“forward-looking statements”). Forward-looking statements are based on certain expectations and assumptions and are subject to known and unknown risks and uncertainties and other factors that could cause actual events, results, performance and achievements to differ materially from those which are anticipated. These forward-looking statements should not be interpreted as guarantees of future performance or results. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements as a result of new information or future events, or for any other reason.