- 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.
