On March 13, 2019, HEXO Corp (“HEXO”) and Newstrike Brands Ltd. (“Newstrike”) announced that they have entered into a definite agreement under which HEXO will acquire Newstrike for $263 million.
Newstrike is the parent company of Up Cannabis Inc., a licensed producer of cannabis that is licensed to both cultivate and sell cannabis in all acceptable forms. Newstrike, through Up Cannabis and together with select strategic partners, including Canada’s iconic musicians The Tragically Hip, is developing a diverse network of high quality cannabis brands.
HEXO Corp. is an award-winning consumer-packaged goods cannabis company that creates and distributes award-winning products to serve the global cannabis market. As one of the largest licensed cannabis companies in Canada, HEXO Corp. operates with over 1.3 million sq. ft. of facilities in Ontario and Quebec.
Osler, Hoskin & Harcourt LLP is representing the Special Committee of the Board of Directors of Newstrike with a team consisting of Doug Marshall and Kai Sheffield (Corporate).