Hexo Stock Spiked This Morning: What's Going On?

HEXO Corp HEXO shares are trading higher Wednesday. Shareholders on Tuesday approved the company's note transaction with Tilray Brands Inc TLRY.

Shareholders voted in favor of the ordinary resolution to approve certain aspects of the note transaction, which provides for the amendment to the terms of the outstanding senior secured convertible note originally issued by Hexo and the execution of an amended and restated note.

87.246% of shareholders voted in favor of the note amendment resolution. The transaction is expected to close in the third quarter.

Hexo is a licensed producer of innovative products for the global cannabis market. 

See Also: Dems Are Using 'Under-The-Radar' Approach To Legalize Marijuana, Minnesota House Leader Says They Are Doing It On Purpose

HEXO Price Action: Hexo has traded between $5.75 and 19 cents over a 52-week period.

The stock was up 6.73% at 22 cents at press time, according to data from Benzinga Pro.

Photo: Herbal Hemp from Pixabay.

Posted In: why it's movingCannabisPenny StocksSmall CapMarketsMoversTrading Ideas

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