HEXO Corp (“HEXO”, or the “Company”) (TSX: HEXO; NYSE: HEXO) today 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.”
