GATINEAU, Quebec, June 21, 2018 (GLOBE NEWSWIRE) -- The Hydropothecary Corporation (“THCX” or the “Company”) (TSX-V:THCX) announced today that it has received approval from the Toronto Stock Exchange (the “TSX”) to graduate from the TSX Venture Exchange (the “TSX-V”) and list its common shares and common share purchase warrants expiring January 30, 2020 on the TSX. The common shares and warrants will commence trading on the TSX effective Friday, June 22, 2018, at which time the Company will also “ring the bell” to open the TSX. In conjunction with listing on TSX, the common shares and warrants will be voluntarily delisted from the TSX-V effective upon commencement of trading on the TSX.
"Graduating to a major exchange such as the TSX demonstrates Hydropothecary’s growth and proven ability to execute," said Sebastien St-Louis, Hydropothecary’s Chief Executive Officer and co-founder.
"Since 2013, our company has demonstrated our continuous commitment to providing industry-leading, innovative products while never compromising the quality or consistency that we are known for. We are thrilled to represent this on the TSX."
The common shares and warrants will trade under the symbols “HEXO” and “HEXO.WT” respectively. The Company has previously announced the launch of HEXO as its new brand for the adult-use cannabis market, while continuing to use the Hydropothecary brand for the medical cannabis market.
In addition, further to the Company’s launch of the HEXO brand, the Company wishes to announce that it intends to change its corporate name from The Hydropothecary Corporation to HEXO Corp. In connection with the name change, the Company will call a special meeting of its shareholders to seek shareholder approval for the change of its corporate name. The Company intends to complete the corporate name change as soon as practicable following receipt of shareholder approval and any requisite regulatory approvals.
The Company also announces that in connection with its listing on the TSX, it has provided notice to terminate its market-making agreement with MJM Markets and Consulting.
About The Hydropothecary Corporation
The Hydropothecary Corporation creates and distributes innovative, award-winning, easy to use, and easy to understand products under Health Canada’s Access to Cannabis for Medical Purposes Regulations. One of the country’s lowest-cost producers, Hydropothecary is rapidly increasing its production capacity in the lead-up to adult-use cannabis. Hydropothecary will supply the adult-use cannabis markets in Canada and elsewhere under its newly launched HEXO brand and will continue to serve medical cannabis clients under the original Hydropothecary brand.
This press release contains forward-looking information that is based on certain assumptions and involves known and unknown risks and uncertainties and other factors that could cause actual events to differ materially from current assumptions and expectations. Examples of forward-looking information include, but are not limited to, the Company’s estimates of product volumes to be supplied by it under the supply agreement with the SAQ, its assumptions regarding product mix, its assumption that the agreement will remain in force for its full term and conditional by governments adoption of the necessary regulatory frameworks. These statements should not be read as assurances of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements, including the actual product volumes that will be supplied by the Company under the agreement, the Company’s ability to produce the estimated product volumes, and the actual mix of products that will be supplied and their pricing. A more complete discussion of the risks and uncertainties facing the Company appears in the Company’s Annual Information Form and continuous disclosure filings, which are available on SEDAR’s website at www.sedar.com. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements as a result of new information or future events, or for any other reason.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Manager of Financial Reporting and Investor Relations
A video accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/fcc01d95-e245-4fdf-b7c5-29484d43eb14