Auxly Cannabis - CEO, Hugo Alves
CEO, Hugo Alves
Source: Canadian Lawyer
  • Auxly Cannabis Group (XLY) has closed its private placement offering
  • Gross proceeds from the offering are approximately $8.0 million
  • The company issued 23,880,598 units at a price of $0.335 per unit
  • Net proceeds will be used for working capital and general corporate purposes
  • Auxly Cannabis Group Inc is a consumer-packaged-goods company
  • Auxly Cannabis Group (XLY) is up 1.37 per cent, trading at C$0.37 per share at 10:45 am ET

Auxly Cannabis Group (XLY) has closed its previously announced private placement offering of units to an institutional investor.

Gross proceeds from the offering are approximately $8.0 million. 

The company issued 23,880,598 units at a price of $0.335 per unit. ATB Capital Markets Inc. acted as the exclusive agent on the offering.

Each unit is comprised of one common share and one-half of one common share purchase 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 the closing of the offering.

Net proceeds will be used for working capital and general corporate purposes.

Auxly Cannabis Group Inc is a consumer-packaged-goods company in the cannabis products market. Its focus is on developing, manufacturing and distributing branded cannabis products.

Auxly Cannabis Group (XLY) is up 1.37 per cent, trading at C$0.37 per share at 10:45 am ET.

More From The Market Online

Tilray’s Breckenridge Brewery honours Denver Nuggets with new ale

Tilray Brands (TSX:TLRY) subsidiary Breckenridge Brewery launches a new ale to recognize the 2023 NBA championship-winning Denver Nuggets.

Avicanna launches 10% CBD (THC free) formula in Canada

Avicanna (TSX:AVCN) launches RHO Phyto Micro Drop 100, a 10 per cent CBD (THC free), proprietary oral formulation in Canada.

Organigram looks to raise capital as cannabis stocks surge

Organigram (TSX:OGI), one of Canada's first cannabis stocks, announces an overnight marketed public offering of units for up to C$25 million.