HEXO Corp (HEXO)

[JohnCM]

HEXO, Zenabis Shares Trading Higher Following Acquisition Deal News

BY Dow Jones & Company, Inc.
1:45 PM ET 02/16/2021

Shares of cannabis companies HEXO Corp. ( HEXO ) and Zenabis Global Inc. ( ZBISF ) are trading higher in Tuesday's markets, following news that HEXO ( HEXO ) agreed to acquire Zenabis in an all-stock transaction valued at about C$235 million.

At 1:28 p.m. EST, HEXO ( HEXO ) shares were trading 15.69% higher on the Nasdaq, at $8.62. Volume topped 13.2 million shares, above the 65-day average volume of just over 8 million shares.

At 1:17 p.m. EST, shares of HEXO ( HEXO ) shares were trading 15.38% higher on the Toronto stock exchange, at C$10.88. Volume topped 3.6 million shares, above the 65-day average volume of some 2.1 million shares.

Zenabis shares were also trading higher on the Toronto stock exchange. At 1:24 p.m. EST, its stock was 16.13% higher, at 18 Canadian cents per share. Volume topped 35.1 million shares, above the 65-day average volume of some 8.6 million shares.