Cannabis
BusinessThe Canadian PressAurora Cannabis to layoff 12% of workforce amid reorganization
EDMONTON — Aurora Cannabis Inc. says it is laying off 12 per cent of its workforce as the company embarks on a reorganization. The Edmonton-based cannabis company confirmed the cut in an email to The Canadian Press, but did not share how many workers would be impacted, what roles they were in or where they were located. Spokesperson Kate Hillyar says the reorganization will allow Aurora to operate as a leaner, more agile and future-focused company it feels will be fit for success. She says the c
BusinessThe Canadian PressCannabis company Hexo's Zenabis subsidiary files for CCAA protection
GATINEAU, Que. — Cannabis company Hexo Corp. says Zenabis Global Inc., a wholly owned subsidiary, has filed for protection under the Companies’ Creditors Arrangement Act. The company says Zenabis made the filing in Quebec Superior Court to restructure its business and financial affairs. Hexo says the petition is limited to the Zenabis Group. Neither Hexo nor any of its subsidiaries, other than the members of the Zenabis Group, are petitioners or parties to the proceedings, the company says. Hexo
BusinessThe Canadian PressCannabis companies Tilray and Hexo revise terms of debt deal
GATINEAU, Que. — Tilray Brands, Inc. and Hexo Corp. have revised the terms of a US$211 million deal the cannabis companies signed that could see Tilray own a stake in its rival. The companies say the deal now includes an additional discount to Tilray's purchase price and a reduction to the conversion price Tilray will pay for a note issued by Gatineau-based Hexo and HT Investments MA LLC (HTI). Under the amended deal, Leamington, Ont.-based Tilray would acquire the note from HTI, which includes
