Tilray Brands Inc (TLRY)

[1vman]

*****LOL !!! Pot producer Tilray to buy rival Hexo's remaining debt of $193 mln

Hexo will pay Tilray an annual fee of $18 million for advisory services related to cultivation, operations, and production, the company said on Tuesday.

Once Tilray takes over the debt, Hexo will pay Tilray 5% annual interest on said debt (so about $9.6 million), and also pay Tilray $18 million annually for "advisory services" (so about $27.6 million annually in total). Tilray notes that this makes the deal "immediately accretive" to Tilray's profits.

HEXO Enters Into Definitive Agreement With Tilray Brands to Create a Strategic Alliance Between Two Canadian Cannabis Leaders

This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated May 11, 2021 to its short form base shelf prospectus dated May 7, 2021 and amended and restated on May 25, 2021.

New debt financing arrangement will accelerate HEXO’s transformation into a cash flow positive business within the next four quarters

HEXO and Tilray Brands to target combined cost-savings of up to U.S.$80M within 24 months to be realized from shared support services, commercial alliances and production efficiencies

ANYTHING IN THE MID 2 DOLLAR RANGE I WILL LOAD UP HUGE PERIOD