06:41:00 EST Mon 06 Dec 2021
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Auxly Cannabis Group Inc
Symbol XLY
Shares Issued 691,861,024
Close 2021-03-23 C$ 0.36
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Auxly Cannabis begins at-the-market equity program

2021-03-23 09:53 ET - News Release

Mr. Hugo Alves reports


Auxly Cannabis Group Inc. has established an at-the-market equity program, which allows the company to issue and sell up to $30-million of common shares in the capital of the company from treasury to the public from time to time, at the company's discretion. Any common shares sold through the ATM program will be sold through the TSX Venture Exchange or any other marketplace on which the common shares are listed, quoted or otherwise traded, at the prevailing market price at the time of sale.

The ATM program provides expanded flexibility to the company should future additional financing be needed. The volume and timing of distributions under the ATM program, if any, will be determined at the sole discretion of the company. The distribution of the common shares under the ATM program will be made pursuant to the terms of an equity distribution agreement dated March 23, 2021, entered into between the company and ATB Capital Markets.

The ATM program will be effective until the earlier of the issuance and sale of all of the common shares issuable pursuant to the ATM program or the date on which the receipt issued for the company's base shelf prospectus dated March 18, 2021, ceases to be effective in accordance with Canadian securities laws, unless terminated prior to such date by the company or the agent. As common shares sold in the ATM program will be issued and sold at the prevailing market price at the time of sale, prices may vary among purchasers during the period of distribution. The company expects to use the net proceeds from the ATM program to further its business objectives, which include maintaining its leadership and strength in the cannabis 2.0 product market, expanding its cannabis 1.0 products and continuing to refine/improve its processes and throughput capabilities, as well as for general corporate purposes, which may include: working capital; capital expenditures; debt repayments; and potential future acquisitions.

The offering under the ATM program will be made pursuant to a prospectus supplement dated March 23, 2021, to the company's base shelf prospectus, which will be filed with the applicable securities regulatory authorities in each of the provinces and territories of Canada. The distribution agreement, the prospectus supplement and the base shelf prospectus will be available on SEDAR. Alternatively, the agent will send copies of the distribution agreement, the prospectus supplement and the base shelf prospectus upon request by contacting ATB Capital Markets, 66 Wellington St. West, suite 3530, Toronto, Ont., M5K 1A1, or by telephone at 647-776-8230, or by e-mail at prospectus@atb.com.

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 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 in order to create trusted products and brands in an expanding global market.

We seek Safe Harbor.

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