Auxly Cannabis - CEO, Hugo Alves
CEO, Hugo Alves
Source: Canadian Lawyer
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  • On a private placement basis, an institutional investor has agreed to purchase 23,880,597 units for $0.335 per unit
  • Gross proceeds from the offering will total approximately $8.0 million
  • ATB Capital Markets Inc. is acting as an exclusive agent on the offering
  • The net proceeds from the offering will be used for working capital and general corporate purposes
  • The offering is expected to close during the week of May 17 and is subject to the approval of the Toronto Stock Exchange
  • Auxly is a leading Canadian cannabis company
  • Auxly Cannabis Group (XLY) opened trading at C$0.35 per share

Auxly Cannabis Group (XLY) has entered into an agreement with an institutional investor.

On a private placement basis, the investor has agreed to purchase 23,880,597 units for $0.335 per unit.

Gross proceeds from the offering will total approximately $8.0 million. ATB Capital Markets Inc. is acting as an exclusive agent on the offering.

Each unit shall be comprised of one common share and one-half of one common share purchase warrant. Each warrant shall entitle the investor to purchase one share at a price of $0.42 at any time up to 36 months from closing.

The net proceeds from the offering will be used for working capital and general corporate purposes.

The offering is expected to close during the week of May 17 and is subject to the approval of the Toronto Stock Exchange.

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 (XLY) opened trading at C$0.35 per share.

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