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ZBISF: effective June 3,2021: HEXO Corp. ("HEXO") has acquired all of the issued and outstanding Zenabis Shares pursuant to a plan of arrangement. Holders of Zenabis Shares will receive 0.01772 of a common share of HEXO (each whole common share of HEXO, a "HEXO Share") (Symbol: HEXO) for each Zenabis Share held. In no event shall any holder of Zenabis Shares be entitled to a fractional HEXO Share. Fractional shares shall be rounded down to the nearest whole number of HEXO shares without any additional compensation or cost.
FINRA will delete the symbol.
https://otce.finra.org/otce/dailyList?viewType=Deletions
@Danstrader
Understood. Thank You
@Danstrader
Thank You!
Question: When does the official conversion take place ? (Date) ?
Thxxx
Well it was fun. I made this page. Hopefully I’ll see you all on the hexo page next week and we can all ride into the sunset. Congrats to all of us we are moving on to bigger and better things with this team they are putting together. #1!
Tripled my position today. I locked up 299 shares of Hexo at an avg of $ 5.67 per share after the merger. My Hexo avg was 7 bucks a share so that is a sweet discount. My Hexo avg is now 6.60 per share for 999 shares. That is the easiest avg down I have ever done. No brainer.
Doubled my position today. Seems like a no brainer with the HEXO deal in play this month.
you are not alone on that course: buying "hexo"@ discount here as much as I can afford
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=162438427
The vote is May 13 but my understanding is it's a lock to happen. GL
Just for fun. I'll follow you on this one. I bought 11,330 shares. GL to both of us.
Anyone buying? The way I see it buying this gives you a 20% discount on HEXO shares. I added 5665 shares for 500 bucks and will get 100 HEXO worth 600 more or less as of today. I see HEXO over 10 again before this year is over. Anyway seems like a No Brainer to me since I own HEXO now. GL
Zenabis Announces Full Year and Fourth Quarter 2020 Financial Results
10:45 PM ET 3/31/21 | Dow Jones
VANCOUVER, BC, March 31, 2021 /CNW/ - Zenabis Global Inc. (TSX: ZENA) ("Zenabis" or the "Company") today announced its financial results for the year and quarter ended December 31, 2020. All amounts, unless specified otherwise, are expressed in Canadian dollars.
Full Year 2020 Highlighted Financial Results
-- Consolidated net revenue increased 95% to $59.3 million from $30.4
million in 2019;
-- Gross margin before fair value changes to biological assets and
inventories was $24.8 million or 41.8% of net revenue in 2020, compared
to $13.7 million or 44.9% of net revenue in the prior year;
-- Consolidated Adjusted EBITDA for the year totaled $3.5 million, compared
to negative $38.7 million in 2019;
-- Loss from operations of $2.3 million compared to $59.2 million in the
prior year;
-- Consolidated net loss from continuing operations totaled $54.9 million or
$0.10 per share, fully diluted, compared to $72.6 million or $0.30 per
share, fully diluted, in 2019;
-- Consolidated net loss for 2020 totaled $70.5 million or $0.13 per share,
fully diluted, compared to $127.0 million or $0.53 per share, fully
diluted, in 2019;
-- Loans and borrowing decreased $88.2 million from $153.9 million to $65.7
million;
-- Net cash used in operations was $17.5 million compared to $78.6 million
in 2019.
see more: https://www.otcmarkets.com/stock/ZBISF/news/story?e&id=1853346
Can someone break down the deal with HEXO? I thought it was an all stock deal with Zen folks getting shares of Hexo. How many shares will you get for each Zen share is my question. The deal says.01772 shares of Hexo per Zen share so does that mean just for every 57 shares or so of Zen you own you will get 1 Hexo? If so that's a good deal as long as Hexo stays above 5.70 if you own at today's pps of a dime. Yes? what am I missing? TIA
Who knows what the pps will do so far any forward looking statements that seem good just get sold into. We’ve had what 1 major push in the right direction in two years. Seems to me they just wanted to get this thing low to sell shares and get acquired. Not very nice when from early on they said they were gonna work on shareholder value.
New York to vote on Tuesday to legalize.
https://www.marketwatch.com/story/new-york-lawmakers-agree-to-legalize-recreational-marijuana-01616943799?mod=mw_latestnews
If they do indeed release on Monday, what’s your prediction ? A bump up or down ?
Zenabis should release 2020 annual earnings Monday. They did a good job pushing the price down before earnings that’s for sure
Thanks for the link/info...... BUT doesn’t really matter stock is constantly hovering from .10-.13.
I personally can not wait to GTFO.. once it hits .15 OR above
Zenabis Announces Launch of Re-Up Pre-Roll Multipacks, New Distribution Agreements
NEWS PROVIDED BY
Zenabis Global Inc.
Mar 24, 2021, 07:45 ET
https://www.newswire.ca/news-releases/zenabis-announces-launch-of-re-up-pre-roll-multipacks-new-distribution-agreements-854750333.html
VANCOUVER, BC, March 24, 2021 /CNW/ - Zenabis Global Inc. (TSX: ZENA) ("Zenabis" or the "Company") announces the launch of pre-roll multipacks as well as new distribution agreements.
Zenabis' continues to expand on the popularity of its value-oriented Re-Up portfolio with the launch of its new 10 and 20, Multi-Pack Indica and Sativa 0.5g Pre-Roll formats. This unique, multi-pack will be available initally in Quebec and Alberta in the larger, 20-pack format in early April with national rollout of both formats expected to be in time for the 4/20 celebrations. The full impact of the launch is expected to be reflected in Zenabis's Q2 2021 results.
Zenabis' multipack pre-roll offering will serve consumers seeking better value for money and larger package sizes to reduce the frequency of purchases. These new products build on the success of Zenabis popular 28g Re-Up Indica / Sativa products. The launch of the 10 / 20 Multi-Pack Pre-Roll format underpins Zenabis strategy of leveraging its ability to deliver the quality and affordability expected by its loyal customer base while delivering on the top and bottom line performance anticipated by shareholders.
Zenabis is also excited to announce that it has concluded agreements with Cannabis NL (Newfoundland and Labrador) and the government of Nunavut, completing its goal of extending the availability of its Namaste and Re-Up products to all Canadian provinces and territories. Shipments under these new agreements commence in April. Zenabis joins a small, select group of Canadian LPs whose product quality and value have been recognized as a must-have, on-shelf product by every Provincial & Territorial Board in Canada. These new agreements further cement Zenabis as one of the top recreational LP's in the country.
"Finalizing agreements with Cannabis NL and the government of Nunavut, which means making good on our promise of making our Namaste and Re-Up brands available from coast-to-coast-to-coast, is a benchmark moment for this organization. We continue to portray what a lean, nimble company that grows really, really good cannabis can achieve. The addition of the pre-roll multipack to our assortment builds on Re-Up's brand purpose of providing affordable, high-THC products to our value-oriented customers" stated Robert Maxwell, Zenabis' Vice President, Sales and Marketing..
About
Zenabis is a leading Canadian licensed cultivator of cannabis for medical and recreational use. Zenabis employs staff coast-to-coast, with three licenced Canadian facilities in Atholville, New Brunswick; Langley, British Columbia; and Stellarton, Nova Scotia. Zenabis serves international markets directly and in partnership with its joint venture, ZenPharm operating from Birzebbuga, Malta. Zenabis distributes cannabis products and derivatives under the Zenabis, Namaste and Re-Up brand names.
For more information, visit: https://www.zenabis.com.
SOURCE Zenabis Global Inc.
For further information: Media Relations: Email: media@zenabis.com, Phone: 1-855-936-2247; Investor Relations: E-mail: invest@zenabis.com, Phone: 1-855-936-2247
Zenabis Provides Update on Details of Special Meeting of Shareholders for Arrangement with HEXO Corp. and Release and Filing of 2020 Financial Results
3:45 PM ET 3/23/21 | Dow Jones
VANCOUVER, BC, March 23, 2021 /CNW/ - Zenabis Global Inc. (TSX: ZENA) ("Zenabis" or the "Company") announced today that the Company has made the decision to change its special meeting of shareholders to be held for the purpose of submitting the arrangement transaction with HEXO Corp. (the "Arrangement") for shareholder approval (the "Meeting"), which was originally scheduled to be held in person on Thursday, April 15, 2021 in Langley, British Columbia, to a virtual-only meeting to be held on Thursday, May 13, 2021.
The decision to change the format and postpone the date of the Meeting was made by the Company amid ongoing concerns regarding the COVID-19 outbreak and in order to provide for the incorporation by reference into the forthcoming management information circular to be issued by the Company in respect of the Meeting (the "Circular") of the Company's audited consolidated financial statements for the financial year ended December 31, 2020 and the corresponding MD&A and the Company's annual information form for the year ended December 31, 2020 (collectively, the "2020 Year-End Documents"), which the Company anticipates releasing and filing on March 29, 2021.
The Company's board of directors has set Wednesday, April 7, 2021 as the new record date for the Meeting. The revised record and Meeting dates have been agreed to by HEXO Corp. and will be submitted by the Company for approval by the Supreme Court of British Columbia together with the other motion materials in advance of a hearing to obtain an interim court order for various procedural matters in connection with the Arrangement and the Meeting (including the Meeting and record dates), which materials are expected to be filed with the Court shortly following the release and filing of the 2020 Year-End Documents.
The Meeting will be conducted via live audio webcast using the LUMI meeting platform commencing at 10:00 a.m. (Pacific time) on May 13, 2021. Shareholders will have an opportunity to participate in the Meeting regardless of their geographic location, however shareholders will not be able to attend the Meeting in person.
Registered shareholders and duly appointed proxyholders will be able to listen to the virtual Meeting, ask questions and vote online, all in real time, provided that they are connected to the internet and properly follow the instructions. Instructions on how to virtually attend the Meeting will be provided in the Circular, a copy of which will be filed in advance of the Meeting under the Company's profile on SEDAR at www.sedar.com.
About Zenabis
Zenabis is a significant Canadian licensed cultivator of medical and recreational cannabis. Zenabis employs staff coast-to-coast, across facilities in Atholville, New Brunswick; Langley, British Columbia; and Stellarton, Nova Scotia. Zenabis currently has 111,200 kg of licensed cannabis cultivation space across three licensed facilities in Canada, together with its cannabis import, export and processing joint venture, ZenPharm, operating from Bir ebbu a, Malta.
For more information, visit: https://www.zenabis.com.
SOURCE Zenabis Global Inc.
View original content: http://www.newswire.ca/en/releases/archive/March2021/23/c9810.html
/CONTACT:
Media Relations: Email: media@zenabis.com, Phone: 1-855-936-2247; Investor Relations: E-mail: invest@zenabis.com, Phone: 1-855-936-2247
/Web site: www.zenabis.com
the apparent discount will not apply if the deal does not go through as planned....one risk you take, however likely or not
hexo up 10% zbisf dawn 10%
buying zena at this level= hexo at 30% discounts ... correct me if wrong
Why would you hope for a counter offer this is it, this is the partner we need to take us all where we wanted to get. Tic toc. Molson Coors already working with coke and under armour sports drinks.
Still hoping for a counter offer from someone like SND? or someone else. 233M for Zena is liquidation not even buy out pricing. I guess if no one else steps up with a better offer in the next two weeks Zena must have been in much worse shape than they let us know. We sure did get the shaft on this one but it's not over till it's over so hang in there.
We was robbed...it's hi-way robbery I tell you I'm pretty disappointed ZENA was going to make me 5-10x this year. Great for the HEXO holders they got a great deal. Watch for a little bump before the deal goes through that's when I will exit stage left. Good luck guys.
Thanks JohnCM
Yes correct I got in with Zena at .0950
You were at $0.10
HEXO's quarterlies from here on out are going to be good.
HEXO is a turnaround story. If this took place a year ago, I would not tell you that I think this will turn out fine for you.
Now, it appears to be good all-the-way-around.
Hi JohnCM
Is this good news in your opinion for Zenabis shareholders ?
What will Zenabis stock be at now ?
$235,000,000
divided by $7.50
approx cost 30 million shares dilution HEXO
HEXO Corp. to acquire Zenabis Global Inc.
Tue, February 16, 2021, 8:26 AM
HEXO
+13.17%
ZBISF
+16.6667%
OTTAWA and VANCOUVER, British Columbia, Feb. 16, 2021 (GLOBE NEWSWIRE) -- HEXO Corp. ("HEXO") (TSX: HEXO; NYSE: HEXO) and Zenabis Global Inc. ("Zenabis") (TSX: ZENA) are pleased to announce that they have entered into a definitive arrangement agreement (the "Arrangement Agreement") under which HEXO will acquire, by way of court-approved plan of arrangement under the Business Corporations Act (British Columbia), all of Zenabis’ issued and outstanding common shares in an all-share transaction boo valued at approximately $235 million (the "Transaction").
Under the terms of the Arrangement Agreement, Zenabis shareholders will receive 0.01772 of a HEXO common share in exchange for each Zenabis common share held (the “Exchange Ratio”). The Exchange Ratio implies a premium per Zenabis common share of approximately 19% based on the 20-day volume-weighted average price ("VWAP") of Zenabis common shares on TSX and HEXO common shares on TSX as of February 12, 2021. Warrants and incentive securities of Zenabis will be adjusted in accordance with their terms to ultimately become exercisable to receive common shares of HEXO based on the share exchange ratio.
The Transaction was unanimously approved by the board of directors of each of HEXO and Zenabis (in the case of Zenabis’ board of directors, after receiving the unanimous recommendation of a special committee formed for purposes of the Transaction), and Zenabis’ board of directors unanimously recommends that its shareholders vote in favour of the Transaction.
Transaction Highlights
Strengthened domestic brands: Based on HEXO’s and Zenabis’ most recent interim quarterly financial statements and results, and those of the other top licensed producers in Canada, the combined organization would be a top three licensed producer in terms of combined Canadian recreational cannabis sales.
Foothold in Europe: The Transaction gives HEXO immediate access to the European medical cannabis market through Zenabis’ local partner, with an established facility in the European Union supplying pharmaceutical products to the European market. The facility also serves as a European Union Good Manufacturing Practice packaging and distribution centre for medical cannabis products produced in Zenabis' Atholville Facility.
Accretive synergies: HEXO estimates that the combined entity may realize annual synergies of approximately $20 million within one year of close, through cost of goods reductions, additional capacity utilization in HEXO’s Belleville Centre of Excellence and selling, general and administrative savings, which, if realized, should allow HEXO to continue its path towards positive earnings.
Capacity boost with state-of-the-art cultivation infrastructure: The proposed Transaction would give HEXO access to licensed capacity to produce approximately 111,200 kg of additional high-quality cannabis annually. The Transaction would result in HEXO acquiring two indoor facilities (approximately 635,000 sq. ft.) and access to a 2.1 million sq. ft. greenhouse facility, totaling approximately 2.735 million sq. ft. of near-term cultivation space offering diversified growing and production techniques. This provides a platform for growth and foundation from which to strengthen and diversify our portfolio of brands.
“We're thrilled to welcome the Zenabis team into the HEXO family. Zenabis has built solid relationships and they share HEXO’s vision of bringing exceptional branded cannabis experiences to adults everywhere, in Canada and abroad” said Sebastien St-Louis, CEO and co-founder of HEXO Corp. “We are proceeding with this transaction because we believe it should be accretive for our shareholders, and it also positions HEXO for accelerated domestic and international growth while supporting near-term requirements for additional licensed capacity. HEXO’s growth strategy includes expanding our global presence, and this acquisition is an important step in that direction.”
“This is a compelling combination. Our brands and strains strength across Canada, coupled with our international footprint and state-of-the-art low-cost and high-quality cultivation facilities complements HEXO’s business, creating an industry leader. Like HEXO, Zenabis believes that the combination should deliver meaningful synergies, a stronger financial position with increased flexibility, and should position the combined company to meet growing consumer demand on a national and international basis. I believe this transaction is beneficial to our shareholders, customers, partners, and employees. We look forward to working closely with HEXO to complete this transaction," added Shai Altman, CEO of Zenabis.
Additional Transaction Details
The Transaction will require approval by at least 66 2/3% of the votes cast by the shareholders of Zenabis present at a special meeting of Zenabis shareholders. HEXO has entered into voting support agreements with Zenabis’ directors and officers with respect to all Zenabis shares owned by them.
The Arrangement Agreement includes customary provisions, including non-solicitation provisions, subject to the right of Zenabis to accept a superior proposal in certain circumstances, with HEXO having a period of five business days to exercise a right to match any such superior proposal for Zenabis. The Arrangement Agreement also provides for a termination fee of $6.0 million payable by Zenabis to HEXO if the Transaction is terminated in certain specified circumstances, as well as reciprocal expense reimbursement fees if the Transaction is terminated by either party in certain other specified circumstances.
In addition to the approval by Zenabis’ shareholders, the Transaction is subject to the receipt of certain regulatory, court and stock exchange approvals and the satisfaction of customary conditions precedent in transactions of this nature as well as the satisfaction of the following additional conditions precedent: (i) the termination and unconditional release of the guarantee provided by Zenabis in favour of Bank of Montreal in connection with the disposition of Bevo Farms Ltd. and its subsidiaries (“Bevo”) announced by Zenabis on January 4, 2021; (ii) the completion of the Bevo sale transaction; and (iii) certain other specified conditions precedent set out in the Arrangement Agreement.
Upon completion of the Transaction, existing HEXO and Zenabis shareholders would respectively own approximately 87.43% and 12.57% of HEXO on a pro forma fully-diluted basis. In addition, HEXO has undertaken in the Arrangement Agreement, within 90 days of closing of the Transaction, to increase the size of its board of directors by one director and cause one of the current directors of Zenabis, selected by HEXO, to be appointed to HEXO’s board of directors in accordance with HEXO’s constating documents.
Zenabis further announces today that its wholly-owned subsidiary Zenabis Ltd. has entered into a Settlement Agreement and Release with a customer (the “Settlement Agreement”), pursuant to which the parties have agreed to withdraw from the arbitration proceedings between the parties, and release the other party from all past, present and future claims of the parties arising out of the pre-paid supply agreement relating to subsequent deliveries of cannabis product.
Contemporaneously with the signature of the Arrangement Agreement, Zenabis has entered into an agreement with HEXO for the issuance of an unsecured convertible debenture to HEXO in a principal amount of $19.5 million, evidencing both a cash advance extended by HEXO to Zenabis at the end of 2020 as well as a further advance extended to Zenabis contemporaneously with the announcement of the Transaction for the purpose of allowing Zenabis to pay the settlement amount pursuant to the Settlement Agreement.
The unsecured convertible debenture bears interest at a rate of 8% per annum and matures on February 15, 2023. The debenture is convertible, in whole or in part, at any time after the earlier of the termination of the Arrangement Agreement and the then applicable “Outside Date” thereunder, at the option of HEXO, into common shares of Zenabis at a conversion price equal to the 5-day VWAP of the common shares on TSX for the five trading days prior to the date of conversion. The debenture may be prepaid by Zenabis, at its option and without penalty or premium, at any time after the earlier of the termination of the Arrangement Agreement and the then applicable “Outside Date” thereunder, subject to HEXO’s right to elect to convert the debenture into Zenabis common shares prior to the prepayment.
A change of control of Zenabis, other than the Transaction with HEXO, shall result in the mandatory conversion of the debenture into common shares of Zenabis at a conversion price equal to the 5-day VWAP where the last day of the 5-day VWAP of the common shares on TSX shall be the trading day immediately preceding the trading day on which the first of any such change of control transactions is initially publicly announced whether by Zenabis or by the person proposing, intending or agreeing to effect the change of control transaction. The unsecured convertible debenture also contains a provision that prevents HEXO from acquiring, at any given time as a result of and upon conversion of the debenture (other than in respect of a mandatory conversion in the context of a change of control transaction), more than 9.9% of Zenabis’ common shares. The listing of the Zenabis common shares issuable pursuant to the subscription is subject to the acceptance by the Toronto Stock Exchange.
Further information regarding the Transaction including the key terms and conditions of the unsecured convertible debenture issued to HEXO will be included in the information circular that Zenabis will prepare, file, and mail in due course to its shareholders in connection with its special meeting to be held to consider the Transaction. Zenabis will be applying in the coming weeks to the British Columbia Supreme Court to obtain an interim order approving various procedural and related matters in order to convene the special meeting of shareholders in connection with the Transaction. The Arrangement Agreement will be filed under the SEDAR profiles of Zenabis and HEXO on the SEDAR website at www.sedar.com.
None of the securities to be issued pursuant to the Arrangement Agreement have been or will be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and any securities issued in the Arrangement are anticipated to be issued in reliance upon the exemption from such registration requirements provided by Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities.
Recommendation of Zenabis’ Board
The Transaction has been unanimously recommended to the Zenabis board of directors by a special committee, comprised of independent directors Daniel Burns and Natascha Kiernan, which was formed to investigate strategic alternatives and to renegotiate and restructure the Company’s capital. After receiving the recommendation of the special committee and receiving independent financial and legal advice, Zenabis’ board of directors has unanimously determined that the Transaction is in the best interests of Zenabis and its security holders, and the board of directors unanimously recommends that Zenabis’ shareholders vote in favour of the Transaction.
The board of directors of Zenabis has obtained a fairness opinion from Echelon Wealth Partners Inc. to the effect that, as of the date of the Arrangement Agreement, and subject to the assumptions, limitations, and qualifications on which such opinion is based, the consideration to be received pursuant to the Transaction is fair, from a financial point of view, to the Zenabis shareholders.
Advisors and Counsel
Echelon Capital Markets (a member of Echelon Wealth Partners Inc.) is acting as financial advisor to Zenabis in connection with the Transaction. Stikeman Elliott LLP is acting as legal counsel to Zenabis and to the special committee of the board of directors of Zenabis.
A.G.P./Alliance Global Partners is acting as financial advisor to HEXO and Norton Rose Fulbright Canada LLP is acting as legal counsel to HEXO.
About HEXO Corp
HEXO Corp is an award-winning consumer packaged goods cannabis company that creates and distributes innovative products to serve the global cannabis market. The Company serves the Canadian adult-use markets under its HEXO Cannabis, Up Cannabis and Original Stash brands, and the medical market under HEXO medical cannabis. For more information please visit hexocorp.com
About Zenabis
Zenabis Global Inc. is a significant Canadian licensed cultivator of medical and recreational cannabis. Zenabis employs staff coast-to-coast, across facilities in Atholville, New Brunswick; Langley, British Columbia; and Stellarton, Nova Scotia. Zenabis currently has 111,200 kg of licensed cannabis cultivation space across three licensed facilities in Canada, together with its cannabis import, export and processing joint venture, ZenPharm, operating from Birzebbuga, Malta.
Is this good news?
Thoughts? Opinions ?
Zenabis stock had some great movement last week all the way up too .21!
I am stunned that they would make a late night announcement about atm !?. And then BOOM very next day stock drops down to .15
May some please advise me why in the blue hell would they do that!. Was on track to go to .25-.30
Forbes posted an article about sundial today that mentioned Zenabis
Forbes posted an article about sundial today that mentioned Zenabis
Forbes posted an article about sundial today that mentioned Zenabis
Man this thing is coiling up like a spring she is going to make a big move soon...not that this week has not been exciting already. Good luck to you.
I'm holding every share. Great post. Thanks
Once we have legalization there will be a rush for product so I see Canadian companies doing well.
It's like a home equity line of credit. If we get the price up they probably wont have to use it.
I dont understand why they are doin this right now, nice momentum, but this gonna kill the flow.
https://finance.yahoo.com/news/zenabis-announces-establishment-market-equity-031400064.html
This beast needs to get some partnerships with the american market and take advantage of the green rush.
Nice volume and pop up today I would love this thing to keep motoring. Imagine if they announce a merger soon.
Time to add more shares. Iaddedanother 30,000 shares today.
Good luck to all!
That's amazing. I like how the scraped together 7m worth of flower and sold it to pay off debt. Very cool.
All cannabis stocks in a bull market craze.....The rising tide raises all ships....
Load and hold.....the wave is coming....
awesome news for zena
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