September 6, 2018 / 2:46 PM / 7 months ago

BUZZ-Hexo Corp: Riposte Capital urges co to seek strategic options


** Shares of medical marijuana producer up as much as 8.1 percent to a record high of C$6.37 on shareholder activism

** Stock set for fourth straight session of gains

** Riposte Capital, second-largest holder, plans to urge the company to explore strategic options, including a sale, saying its stock is undervalued

** Riposte, which has a 2.5 pct stake in co, says Hexo needs to step up efforts to lower the cost of capital to take advantage of the growth in Canada’s cannabis sector

** All 7 brokerages covering the stock rate it “buy” or higher

** HEXO has market cap of C$1.14 bln up to Wednesday’s closing price

** Stock has climbed 52 pct, including session gains (Reporting by Medha Singh in Bengaluru)

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