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Hexo Closes $25M Registered Direct Offering

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Hexo Closes $25M Registered Direct Offering

HEXO Corp. (TSX: HEXO) (NYSE: HEXO) said Thursday it completed its previously announced registered direct offering with institutional investors, selling 14.97 million common shares with a price of $1.67 per share.

With this offering, the company generated $25 million in gross proceeds, before deducting fees and other offering costs.

In addition, Hexo issued to the investors common share purchase warrants to acquire 7.49 million company shares, setting a five year-term on them and an exercise price of $2.45 per share.

The offering had only one placement agent - A.G.P./Alliance Global Partners.

Hexo's shares traded at $1.60 Thursday morning.

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