(Gatineau) Cannabis company Hexo said its wholly-owned subsidiary Zenabis Global has filed for protection under the Companies’ Creditors Arrangement Act.
Posted at 9:04 a.m.
The company says Zenabis filed the case with the Quebec Superior Court to restructure its business and financial affairs.
Hexo says the protection request is limited to the Zenabis group.
Neither Hexo nor any of its subsidiaries, other than members of the Zenabis group, are claimants or parties to the proceedings, the company says.
Hexo says Ernst and Young has been appointed monitor to oversee proceedings under the Act.
Hexo bought Zenabis last year for 235 million.