Auxly Announces Closing of Private Placement of Units for Gross Proceeds of $8.0 Million
May 20 2021 - 4:00PM
Auxly Cannabis Group Inc. (“
Auxly” or the
“
Company”) (TSX: XLY) (OTCQX: CBWTF) is pleased to
announce that it has closed its previously announced private
placement offering of units (the "
Units") to an
institutional investor (the “
Investor”) for gross
proceeds of approximately $8.0 million (the
“
Offering”). Pursuant to the Offering, the Company
issued 23,880,598 Units of the Company at a price of $0.335 per
Unit. ATB Capital Markets Inc. acted as exclusive agent on the
Offering.
Each Unit is comprised of one common share of
the Company (each a "Common Share") and one-half
of one Common Share purchase warrant of the Company (each whole
warrant, a "Warrant"). Each Warrant entitles the
Investor to purchase one Common Share at an exercise price of $0.42
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.
No securities regulatory authority has either
approved or disapproved of the contents of this news release. This
news release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such jurisdiction. This news release is
not an offer to sell or the solicitation of an offer to buy the
securities in the United States or in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
qualification or registration under the securities laws of such
jurisdiction. The securities being offered have not been, nor will
they be, registered under the United States Securities Act of 1933,
as amended, and such securities may not be offered or sold within
the United States or to, or for the account or benefit of, U.S.
persons absent registration or an applicable exemption from U.S.
registration requirements and applicable U.S. state securities
laws.
ON BEHALF OF THE BOARD
"Hugo Alves" CEO
About Auxly Cannabis Group Inc. (TSX:
XLY)
Auxly is a vertically integrated cannabis
company dedicated to bringing branded cannabis products to market
that consumers love and trust. Our team of professionals and
cannabis enthusiasts are united by a shared commitment to quality
and our consumers. We build powerful value propositions with
brands that connect and products that deliver on our consumer
promise of quality, safety and efficacy.
Learn more at www.auxly.com and stay up to date at
Twitter: @AuxlyGroup; Instagram: @auxlygroup; Facebook:
@auxlygroup; LinkedIn: company/auxlygroup/.
Investor Relations:For investor
enquiries please contact our Investor Relations
Team:Email: IR@auxly.com Phone: 1.833.695.2414
Media Enquiries
(only): For media enquiries or to set up an interview
please contact:Email: press@auxly.com
Notice Regarding Forward Looking
Information:
This news release contains certain
"forward-looking information" within the meaning of applicable
Canadian securities law. Forward-looking information is frequently
characterized by words such as "plan", "continue", "expect",
"project", "intend", "believe", "anticipate", "estimate", "may",
"will", "potential", "proposed" and other similar words, or
information that certain events or conditions "may" or "will"
occur. This information is only a prediction. Various assumptions
were used in drawing the conclusions or making the projections
contained in the forward-looking information throughout this news
release. Forward-looking information includes, but is not limited
to: the expected use of proceeds of the Offering; future
legislative and regulatory developments involving cannabis and
cannabis products; and competition and other risks affecting the
Company in particular and the cannabis industry generally.
A number of factors could cause actual results
to differ materially from a conclusion, forecast or projection
contained in the forward-looking information in this release. The
forward-looking information in this release is based on information
currently available and what management believes are reasonable
assumptions. Forward-looking information speaks only to such
assumptions as of the date of this release. Readers should not
place undue reliance on forward-looking information contained in
this release. The forward-looking information contained in this
release is expressly qualified by the foregoing cautionary
statements and is made as of the date of this release. Except as
may be required by applicable securities laws, the Company does not
undertake any obligation to publicly update or revise any
forward-looking information to reflect events or circumstances
after the date of this release or to reflect the occurrence of
unanticipated events, whether as a result of new information,
future events or results, or otherwise.
Neither Toronto Stock Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the Toronto Stock Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Auxly Cannabis (TSX:XLY)
Historical Stock Chart
From Jun 2024 to Jul 2024
Auxly Cannabis (TSX:XLY)
Historical Stock Chart
From Jul 2023 to Jul 2024