HEXO Corp. announced that it has repaid, effective April 30, 2021, the total outstanding balance on its credit facility established under its credit agreement dated February 14, 2019 with Canadian Imperial Bank of Commerce as sole bookrunner, co-lead arranger and administrative agent, and Bank of Montreal as co-lead arranger and syndication agent, together with accrued interest and associated fees, in the amount of approximately $28.9 million.
“We believe repayment of the credit facility provides HEXO with flexibility as we continue to execute on our US expansion plans and our goal to become a top two Canadian LP by adult-use recreational cannabis sales,” said HEXO CEO and co-founder Sebastien St-Louis. “We would like to thank our lenders for their support, which has contributed to HEXO’s success to date.”
HEXO Corp is an award-winning consumer packaged goods cannabis company that creates and distributes innovative products to serve the global cannabis market. The Company serves the Canadian adult-use markets under its HEXO, HEXO Plus, Up, Original Stash and Bake Sale brands and the medical market under HEXO medical cannabis. For more information, please visit hexocorp.com.