The Canada-based company makes good on its promise to make it on the exchange
Earlier this year, Canadian marijuana production company HEXO announced that it was working on a plan to be listed on the New York Stock Exchange (NYSE). It told investors that it expected to make its entry by the end of the year and it has now fulfilled that goal. HEXO applied last Friday with the NYSE to have its shares listed on the exchange.
The announcement that it had applied with the NYSE was made through a press release a few days ago. Its CEO, Sebastien St-Louis, stated, “We committed to our shareholders that HEXO would seek a listing in the US by the end of 2018 and I am proud to say that we delivered. We have a proven track record for our ability to execute and we will maintain it through our focus on developing and distributing innovative consumer-packaged cannabis products.”
In addition to the application with the exchange, HEXO has also filed a short form base shelf prospectus in both Canada and the U.S. If approved, HEXO’s stock will be allowed to provide offers of as much as $800 million in common-share stock for two years.
HEXO is quickly rising in the ranks among marijuana companies in North America. Its strength is fueled by a deal it made with Molson-Coors this past October that will see the creation of Truss, a joint venture that will develop and distribute cannabis-infused, non-alcoholic beverages to the Canadian market. That company will operate independently and will have its own management team and board of directors.