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GATINEAU, Quebec, Jan. 17, 2019 (GLOBE NEWSWIRE) — HEXO Corp. (“HEXO” or the “Company”) (TSX:HEXO) is pleased to announce that its common shares have been approved for listing on the NYSE American LLC (“NYSE American”) and will commence trading effective at the open of markets on January 23, 2019.
HEXO’s shares will trade on the NYSE American under the ticker symbol “HEXO”, the same symbol the Company’s common shares currently trade under, and will continue to trade under, on the Toronto Stock Exchange.
Concurrent with the commencement of trading on the NYSE American, HEXO intends to cease the quotation of its shares on the OTCPK under the symbol “HYYDF”. While shareholders are not required to take any action, the Company recommends that holders who bought shares on the OTCPK monitor their institution/brokerage account to ensure their holdings are correctly reflected under the new ticker symbol.
In a separate release, the company annnounced the results of its annual general meeting of shareholders held on yesterday. All items put forth at the meeting were approved, including the appointment of MNP LLP as auditor of the Company for the ensuing year, and the re-election of Nathalie Bourque, Vincent Chiara, Jason Ewart, Adam Miron, Dr. Michael Munzar and Sébastien St-Louis as directors of the Company, all with a majority of the votes cast, to hold office until the next annual meeting of shareholders or until their successors are elected or appointed.
At the meeting, HEXO Corp. CEO Sebastien St-Louis announced that he was working on a CFO transition plan with the Company’s current CFO, Ed Chaplin. As HEXO Corp. turns its attention to the world, the focus will be on individuals with global consumer packaged goods company experience.
“Under Ed’s leadership, we built an exceptionally robust financial function which has enabled us to hit key significant milestones and to grow HEXO Corp. according to our vision. Ed was instrumental in making our initial public offering a reality. On our first day of trading, our company was valued at approximately $127.9M. Today, we are valued at over $1.2B,” said Sebastien St-Louis, CEO and co-founder of HEXO Corp. “Ed has been a valued and trusted advisor throughout his time at HEXO and has worked tirelessly to support me and the entire team during his tenure. I want to take this opportunity to thank him for his dedication and professionalism.”
As noted during the meeting, Mr. Chaplin plans to remain as Chief Financial Officer until April 30, 2019 and will also be available to offer support for six months following his departure to enable a smooth transition period.