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Auxly Cannabis Group Inc
Symbol XLY
Shares Issued 642,943,875
Close 2020-11-23 C$ 0.36
Recent Sedar Documents

Auxly Cannabis Group arranges $10-million bought deal

2020-11-24 09:51 ET - News Release

Mr. Hugo Alves reports

AUXLY ANNOUNCES $10 MILLION BOUGHT-DEAL PUBLIC OFFERING

Auxly Cannabis Group Inc. has entered into an agreement with Mackie Research Capital Corp. (as the sole underwriter and sole bookrunner), pursuant to which the underwriter has agreed to purchase, on a bought deal basis, 33,333,400 units of the company at a price of 30 cents per unit for gross proceeds to the company of $10,000,020.

Each unit comprises one common share of the company and one-half of one common share purchase warrant of the company. Each warrant shall entitle the holder thereof to purchase one common share at an exercise price of 40 cents at any time up to 36 months from the closing of the offering.

The company has granted the underwriter an option to increase the size of the offering by up to an additional number of units, and/or the components thereof, that, in aggregate, would be equal to 15 per cent of the total number of units to be issued under the offering, exercisable at any time and from time to time up to 30 days following the closing of the offering.

The net proceeds from the offering will be used for working capital and general corporate purposes.

The closing of the offering is expected to occur on or about the week of Dec. 11, 2020, or such later or earlier date as the underwriter and the company may agree upon, and is subject to the company receiving all necessary regulatory approvals, including the approval of the necessary securities regulatory authorities.

The units will be offered by way of a short form prospectus to be filed in those provinces of Canada as the underwriter may designate (except Quebec), pursuant to National Instrument 44-101 -- Short Form Prospectus Distributions, and may be offered in the United States on a private placement basis, pursuant to an appropriate exemption from the registration requirements under applicable U.S. law.

About Auxly Cannabis Group Inc.

Auxly Cannabis Group is an international cannabis company dedicated to bringing innovative, effective and high-quality cannabis products to the medical, wellness and adult-use markets. Auxly's experienced team has secured a diversified supply of raw cannabis, strong clinical, scientific and operating capabilities, and leading research and development infrastructure in order to create trusted products and brands in an expanding global market.

We seek Safe Harbor.

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