HEXO Corp. (“HEXO” or the “Company”) (TSX: HEXO) today announced that it will be filing a preliminary prospectus supplement (the “Preliminary Supplement”

HEXO Corp. announces proposed public offering of common shares

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HEXO Corp. (“HEXO” or the “Company”) (TSX: HEXO) today announced that it will be filing a preliminary prospectus supplement (the “Preliminary Supplement”) to its amended and restated short form base shelf prospectus dated December 14, 2018 (the “Base Shelf Prospectus”) relating to a proposed marketed public offering of common shares of the Company for gross proceeds of approximately C$50 million (the “Offering”). The Offering will be priced in the context of the market with the price and total size of the Offering to be determined at the time of entering into an underwriting agreement for the Offering.

The Company will also grant the underwriters for the Offering an over-allotment option to purchase up to an additional 15% of the common shares to be sold pursuant to the Offering. The over-allotment option will be exercisable for a period of 30 days after closing.

The Company will use the net proceeds from the offering for general corporate purposes, including funding the Company’s global growth initiatives and research and development to further advance the Company’s innovation strategies.

The Offering is being made through a syndicate of underwriters led by CIBC Capital Markets and BMO Capital Markets. The Company’s common shares are traded on the Toronto Stock Exchange (“TSX”) in Canada and have been approved for listing and are expected to start trading on the NYSE American Exchange (“NYSE American”) in the United States on January 23, 2019, in each case under the ticker “HEXO”. Closing of the Offering will be subject to a number of customary conditions including, but not limited to, the listing of the common shares on the TSX and the NYSE American and any required approvals of each exchange.

The Preliminary Supplement will be filed with the securities commissions or similar securities regulatory authorities in each of the provinces and territories of Canada. The Preliminary Supplement will also be filed with the U.S. Securities and Exchange Commission (the “SEC”) as part of the Company’s registration statement on Form F-10 (the “Registration Statement”) under the U.S./Canada Multijurisdictional Disclosure System. The Preliminary Supplement, the Base Shelf Prospectus and the Registration Statement contain important detailed information about the Offering. Copies of the Preliminary Supplement and the Base Shelf Prospectus will be found on SEDAR at www.sedar.com and on EDGAR at www.sec.gov, and a copy of the Registration Statement will be found on EDGAR at www.sec.gov. No securities regulatory authority has either approved or disapproved of the contents of this press release. This press release is for information purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Copies of the Preliminary Supplement, the Base Shelf Prospectus and the Registration Statement may also be obtained in Canada from CIBC Capital Markets, 22 Front Street West, Mailroom, Toronto, ON, M5J 2W5, by telephone at (416) 956-3636, by email at [email protected] or from BMO Capital Markets, Brampton Distribution Centre c/o The Data Group of Companies, 9195 Torbram Road, Brampton, Ontario, L6S 6H2, by telephone at 905-791-3151 Ext. 4312 / 4322, or by email at [email protected] and in the United States from CIBC Capital Markets, 425 Lexington Avenue, 5th floor, New York, NY, by telephone at (800) 282-0822, by email at [email protected] or from BMO Capital Markets Corp., Attn: Equity Syndicate Department, 3 Times Square, 25th Floor, New York, NY 10036 (Attn: Equity Syndicate), or by telephone at (800) 414-3627, or by email at [email protected].

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