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HEXO Corp. is looking to raise up to $800-million over the next 25 months, as per a shelf prospectus filed on Monday.

The final base shelf prospectus gives HEXO, formerly called Hydropothecary, the ability to issue securities over the next two years without issuing separate prospectuses for each raise.

“The Securities may be offered in amounts, at prices and on terms to be determined based on market conditions at the time of sale,” the prospectus states.

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It’s unclear how HEXO intends to use the proceeds of upcoming raises, stating only that management “will retain broad discretion in allocating the net proceeds of any offering” and the “actual use of the net proceeds will vary depending on the availability and suitability of investment opportunities and its operating and capital needs from time to time.”

HEXO, the largest licensed producter based in Quebec, is undertaking a one-million square-foot expansion at its facility in Gatineau. In August, the company announced a joint venture with The Molson Coors Brewing Co. to develop cannabis-infused beverages. HEXO owns 42.5 per cent of the Molson JV, called Truss Limited Partnership.

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