Hexo—whose stock has declined 35% over the last few weeks—announced it was pushing back its quarterly earnings report (scheduled for Thursday) until Monday as it was raising a $70M private placement in convertible debentures to provide working capital as well as meeting other corporate needs.
NewsWire, Financial Post

Hexo CEO and co-founder Sebastien St-Louis was joined by three board members and co-founder Adam Miron in buying $8.67M worth of debentures.
MJ Biz Daily

  • Analysts puzzled over the raise, considering the company was not expected to face capital shortages for nearly three years, while Hexo stock is close to 52-week lows.
    Ottawa Citizen

Zenabis took a different approach to financing, attempting to raise $20.8M in a deeply discounted rights offering with shares 73% lower than five-day market price—and shareholders were punished for it, as Zenabis stock lost 42% of its value between Wednesday and Thursday
Globe and Mail, Twitter—Ryan Lee