Cannabis producer Tilray acquires US$211-million in Hexo debt – The Globe and Mail

Tilray chief executive officer Irwin Simon told The Globe the company “probably will not convert them any time soon,” given one of the terms of the deal: Hexo will pay 10-per-cent interest annually to Tilray, adding up to about $20-million before taxes each year.

The deal comes amid a market that is ripe for consolidation.

The deal will also help Ottawa-based Hexo reduce its balance sheet after a year of weighty debt repayments accrued as it made several large acquisitions.

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