Cannabis company makes BIG purchase of rival for more than $50M!

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This week's stories:

• Tilray Brands will acquire its rival HEXO Corp for US$56 million through the issuance of 0.4352 Tilray shares for each outstanding HEXO share, reports Proactive Investors.
• Marijuana Moment reports that Connecticut saw a record $22 million in combined recreational and medical cannabis sales last month.
• The Motley Fool reports that Tilray shares were lower by 7.1%, while Hexo stock was plunging by 26.5% - spurred by the announcement of a deal for Tilray to acquire Hexo in an all-stock transaction.
• MJ Biz Daily reports that Ontario-based company Phoena Group has been granted creditor protection and is winding down its operations, saying that it no longer has the financial footing to continue operating.

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