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Auxly Cannabis Group Inc
Symbol XLY
Shares Issued 642,943,875
Close 2021-01-20 C$ 0.42
Recent Sedar Documents

Auxly arranges $15-million bought deal offering

2021-01-20 17:45 ET - News Release

Mr. Hugo Alves reports

AUXLY ANNOUNCES $15 MILLION BOUGHT-DEAL PUBLIC OFFERING

Auxly Cannabis Group Inc. has entered into an agreement pursuant to which ATB Capital Markets Inc. and Cantor Fitzgerald Canada Corp., as co-lead underwriters and joint bookrunners, together with a syndicate of underwriters, will purchase 40.55 million units of the company, on a bought deal basis, at a price per unit of 37 cents for gross proceeds of $15,003,500.

Each unit shall be composed of 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 46 cents at any time up to 36 months from closing of the offering.

The company has granted the underwriters an option to increase the size of the offering by up to an aggregate number of units, and/or the components thereof, equal to 15 per cent of the total number of units issued under the offering, such underwriter's option being 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 Feb. 10, 2021, or such later or earlier date as the underwriters 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, including the TSX Venture Exchange.

The units will be offered by way of a short-form prospectus to be filed in those provinces of Canada as the underwriters 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 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 of industry first movers and enterprising visionaries has secured a diversified supply of raw cannabis, strong clinical, scientific and operating capabilities, and leading research and development infrastructure to create trusted products and brands in an expanding global market.

We seek Safe Harbor.

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