Hexo Corp. /zigman2/quotes/200008967/delayed CA:HEXO +1.06% shares slid 6% in premarket trade Friday, after the Canadian cannabis company said it plans to sell shares to raise $20 million in funding. The Ottawa-based company said it has entered an agreement with institutional investors to sell 11.9 million share priced at $1.67 each, a discount to its $1.78 closing price Thursday. The company has further agreed to kssue warrants to purchase 5.9 million shares at an exercise price of $2.45 a share. The warrants will have a five-year term. Shares have fallen 63% in the last 12 months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.38% has gained 26%.