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  • ATB Capital Markets Inc. as sole bookrunner, together with a syndicate of underwriters, have agreed to purchase 47,620,000 units on a bought-deal basis
  • The offering will generate $15,000,300 in gross revenue
  • Each unit consists of one common share and one-half of one common share purchase warrant
  • Auxly has offered the underwriters the option to increase the size of the offering by up to an additional 15 per cent
  • The offering is expected to close on or about the week of June 14, 2021
  • Net proceeds will be used to continue to pursue strategic growth initiatives
  • Auxly Cannabis Group Inc. (XLY) opened trading at C$0.34 per share

Auxly Cannabis Group (XLY) has initiated a bought-deal public offering.

ATB Capital Markets Inc. as sole bookrunner, and Cantor Fitzgerald Canada, acting as co-lead underwriters, along with a syndicate of underwriters will purchase 47,620,000 units of Auxly, on a bought-deal basis.

Units are priced at $0.315. The offering will generate $15,000,300 in gross revenue.

A.G.P./Alliance Global Partners is acting as the sole U.S. sub-agent and financial advisor in connection with the offering in the United States.

Each unit consists of one common share and one-half of one common share purchase warrant. Each whole purchase warrant can be exercised to purchase one common share at a price of $0.38 at any time up to 36 months from the closing of the offering.

Auxly has offered the underwriters the option to increase the size of the offering by up to an additional 15 per cent of the total number of units issued under the offering. This option is exercisable at any time up to 30 days following the closing of the offering.

Net proceeds will be used to continue to pursue strategic growth initiatives, including continued development, commercialization and expansion of its product portfolio, and for general corporate purposes.

The offering is expected to close on or about the week of June 14, 2021 and is subject to regulatory approval.

The units may also be offered in the United States on a private placement basis pursuant to an appropriate exemption from the registration requirements under applicable U.S. law.

Auxly is a leading Canadian cannabis company dedicated to bringing innovative, effective, and high-quality cannabis products to the wellness and adult-use markets.

Auxly Cannabis Group Inc. (XLY) opened trading at C$0.34 per share.

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