07:16:58 EST Mon 06 Dec 2021
Enter Symbol
or Name

Login ID:
Auxly Cannabis Group Inc
Symbol XLY
Shares Issued 749,712,690
Close 2021-05-13 C$ 0.34
Recent Sedar Documents

Auxly Cannabis arranges $8-million private placement

2021-05-13 12:36 ET - News Release

Mr. Hugo Alves reports


Auxly Cannabis Group Inc. has entered into an agreement with an institutional investor, pursuant to which the investor has agreed to purchase, on a private placement basis, 23,880,597 units of the company at a price of 33.5 cents per unit for aggregate gross proceeds of approximately $8-million. ATB Capital Markets Inc. is acting as exclusive agent on the offering.

Each unit shall comprise one common share of the company and one-half of one common share purchase warrant of the company. Each warrant shall entitle the investor to purchase one common share at an exercise price of 42 cents at any time up to 36 months from closing (as defined herein).

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 during the week of May 17, 2021, or such later or earlier date as the investor and the company may agree upon, and is subject to the completion of formal documentation and the company receiving all necessary regulatory approvals, including the approval of the Toronto Stock Exchange. The units will be offered pursuant to applicable exemptions from the prospectus requirements of Canadian securities laws and shall be subject to a customary four-month hold period under Canadian securities laws.

About Auxly Cannabis Group Inc.

Auxly Cannabis Group is a leading Canadian cannabis company dedicated to bringing innovative, effective and high-quality cannabis products to the 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.

© 2021 Canjex Publishing Ltd. All rights reserved.