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The Hydropothecary Corporation Changes Name to HEXO Corp. and Announces Voting Results from Special Meeting of Shareholders
GATINEAU, Quebec, Aug. 29, 2018 (GLOBE NEWSWIRE) -- The Hydropothecary Corporation (“HEXO” or the “Company”) (TSX:HEXO) is pleased to announce that it has changed its corporate name from “The Hydropothecary Corporation” to “HEXO Corp.” effective today.
At a special meeting of shareholders of the Company held on August 28, 2018 (the “Special Meeting”), shareholders representing 99% of votes cast approved an amendment to the Company’s articles to effect the name change.
The Company’s common shares and common share purchase warrants having an expiry date of January 30, 2020 will commence trading on the Toronto Stock Exchange (“TSX”) under the Company’s new name, subject to final acceptance by the TSX, which is expected within the next 3 to 5 business days. The common shares and common share purchase warrants will continue to trade on the TSX under the trading symbols HEXO and HEXO.WT, respectively.
The change of the Company’s name to “HEXO Corp.” follows the Company’s previously announced launch of “HEXO” as its new brand for the adult-use cannabis market, while continuing to use the “Hydropothecary” brand for the medical cannabis market.
“As we look to expand globally, we sought to find a name that would resonate around the world. Something that is strong, easy to pronounce, and easy to recognize. Something that has the ability to become truly iconic,” said Adam Miron, co-founder and Chief Brand Officer of the Company.
At the Special Meeting, the shareholders of the Company also approved the Company’s new omnibus long-term incentive plan and certain awards which have been made under it as described and set out in the information circular of the Company for the Special Meeting dated July 16, 2018, with 69% of the votes cast in favour.
A report of voting results for each of the matters voted upon at the Special Meeting has been filed on SEDAR under the Company’s issuer profile at www.sedar.com.
About HEXO Corp.
HEXO Corp. creates and distributes innovative, easy-to-use and easy-to-understand products to serve the Canadian cannabis market. One of the country’s lowest-cost producers, HEXO is rapidly increasing its production capacity in the lead up to the adult-use cannabis market. The Company currently operates with 310,000 sq. ft. of production capacity with construction on another 1,000,000 sq. ft. expansion set to be complete by year end. HEXO will serve the adult-use market under the HEXO brand, while continuing to serve its medical cannabis clients through the well-known Hydropothecary brand.
This press release may contain forward-looking information that is based on certain assumptions and involves known and unknown risks and uncertainties and other factors that could cause actual events to differ materially from current assumptions and expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. A more complete discussion of the risks and uncertainties facing the Company appears in the Company’s Annual Information Form and continuous disclosure filings, which are available on SEDAR’s website at www.sedar.com. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements as a result of new information or future events, or for any other reason.
Manager of Financial Reporting and Investor Relations