Shareholders voted in favor of the ordinary resolution to approve certain aspects of the note transaction, which provides for the amendment to the terms of the outstanding senior secured convertible note originally issued by Hexo and the execution of an amended and restated note.
87.246% of shareholders voted in favor of the note amendment resolution. The transaction is expected to close in the third quarter.
Hexo is a licensed producer of innovative products for the global cannabis market.
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HEXO Price Action: Hexo has traded between $5.75 and 19 cents over a 52-week period.
The stock was up 6.73% at 22 cents at press time, according to data from Benzinga Pro.
Photo: Herbal Hemp from Pixabay.