HEXO to Raise Up to 1.2 Billion Canadian Dollars in Fresh Capital

Hardly for the first time in its corporate life, HEXO (NYSE: HEXO) is gearing up to raise some funds. The company announced on Thursday that it has filed regulatory paperwork stating that it aims to amass up to 1.2 billion Canadian dollars ($958 million) over the next 25 months. In its press release trumpeting the declaration, HEXO quoted its CEO Sebastien St-Louis as saying that the monies raised will "provide maximum flexibility as we continue to pursue strategic initiatives in both the United States and Canada."