Mr. Hugo Alves reports
AUXLY ANNOUNCES CLOSING OF PRIVATE PLACEMENT OF UNITS FOR GROSS PROCEEDS OF $8.0 MILLION
Auxly Cannabis Group Inc. has closed its previously announced private placement offering of units to an institutional investor for gross proceeds of approximately $8-million. Pursuant to the offering, the company issued 23,880,598 units of the company at a price of 33.5 cents per unit. ATB Capital Markets Inc. acted as exclusive agent on the offering.
Each unit comprises one common share of the company and one-half of one common share purchase warrant of the company. Each warrant entitles the investor to purchase one common share at an exercise price of 42 cents at any time up to 36 months from closing of the offering.
The net proceeds from the offering will be used for working capital and general corporate purposes.
About Auxly Cannabis Group Inc.
Auxly is a vertically integrated cannabis company dedicated to bringing branded cannabis products to market that consumers love and trust. Its team of professionals and cannabis enthusiasts are united by a shared commitment to quality and its consumers. The company builds powerful value propositions with brands that connect and products that deliver on its consumer promise of quality, safety and efficacy.
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