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Auxly Cannabis Group Inc
Symbol XLY
Shares Issued 773,593,288
Close 2021-06-14 C$ 0.255
Recent Sedar Documents

Auxly Cannabis closes $17.25-million bought deal

2021-06-14 12:09 ET - News Release

Mr. Hugo Alves reports

AUXLY ANNOUNCES CLOSING OF $17 MILLION BOUGHT-DEAL PUBLIC OFFERING, INCLUDING FULL EXERCISE OF THE OVER-ALLOTMENT OPTION

Auxly Cannabis Group Inc. has closed its bought deal short form prospectus offering, pursuant to which the company issued 54,763,000 units of the company at a price of 31.5 cents per unit for gross proceeds to the company of $17,250,345, including the full exercise of the overallotment option. The offering was co-led by ATB Capital Markets Inc., as sole bookrunner, and Cantor Fitzgerald Canada Corp., acting as co-lead underwriters, together with a syndicate of underwriters that included Desjardins Capital Markets, Raymond James Ltd. and Mackie Research Capital Corp. Alliance Global Partners acted as the sole U.S. subagent and financial adviser to the company in connection with the offering in the United States.

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 38 cents at any time up to 36 months from the closing of the offering.

The net proceeds from the offering will be used for strategic growth initiatives, including the continued development, commercialization and expansion of the company's product portfolio as well as for general corporate purposes.

The units were offered by way of a prospectus supplement to the company's short form base shelf prospectus dated March 18, 2021, which has been filed in those provinces of Canada as the company and the underwriters may designate (excluding Quebec), pursuant to National Instrument 44-101 -- Short Form Prospectus Distributions, and National Instrument 44-102 -- Shelf Distributions. The units were also offered in the United States on a private placement basis, pursuant to an appropriate exemption from the registration requirements under applicable U.S. law.

The prospectus supplement and the base shelf prospectus contain important detailed information about the offering. Copies of the prospectus supplement and the base shelf prospectus are available under the company's profile on SEDAR. Copies of the prospectus supplement and the base shelf prospectus may also be obtained in Canada from ATB Capital Markets at suite 410, 585 8th Ave. SW, Calgary, Alta., T2P 1G1, or by e-mail at prospectus@atb.com.

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.

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