Home Top Movers Blazing report sparked HEXO Corp (HEXO) stock go up in the Pre-market

Blazing report sparked HEXO Corp (HEXO) stock go up in the Pre-market

HEXO Corp (NYSE:HEXO) shares took the aerial routein the pre-market today after the ‎Company reported that it has updated and revised the short form base shelf prospectus ‎dated December 14, 2018, amending and revising its November 19, 2018, short form base ‎shelf prospectus has expired.‎

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‎From time to time, during the 25 months starting November 19, 2018, the shelf prospectus ‎referred to the offering for sale by the Company of up to $800,000,000 in the amount of the ‎Company’s common stock, options, subscription receipts, and units. The Corporation issued ‎shares for net gross proceeds of $254.3 million between January 2019 and August 2020 ‎under the Shelf Prospectus. The Organization has agreed at this time not to file another ‎short form base shelf prospectus.‎

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‎”HEXO has made significant changes to its processes, product portfolio, and overall ‎enterprise on the road to sustainability since the prospectus was first filed. This fiscal year’s ‎first quarter was our sixth consecutive quarter of growth in Adjusted EBITDA as we are ‎heading towards positive Adjusted EBITDA. “We are also progressing on the path to positive ‎cash flow from our operations,” said Trent MacDonald, HEXO CFO. We continue to hold the ‎number one market share spot in Quebec while increasing into other countries and are ‎currently the top four net revenue dollars in Canada’s adult market share. Via Truss, our ‎joint venture with Molson Coors, climbed into the top beer spot and earned the number one ‎market share ranking for the hash, which we expect will continue to be a significant ‎segment for the industry. In light of our strong financial standing, and most importantly, our ‎excellent liquidity and cash flow position, we do not see the need to perform more rounds of ‎borrowing shortly.”‎

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