- Auxly issued 54,763,000 units at a price of $0.315 per unit for gross proceeds of $17,250,345
- The offering was led by ATB Capital Markets Inc. as sole bookrunner and Cantor Fitzgerald Canada Corporation acting as co-lead underwriters
- A.G.P./Alliance Global Partners acted s the U.S. sub-agent
- Net proceeds will be used to continue to pursue strategic growth initiatives
- Auxly is a leading Canadian cannabis company
- Auxly Cannabis Group Inc. (XLY) is down 5.77 per cent, trading at C$0.245 per share at 10 am ET
Auxly Cannabis Group (XLY) has closed its bought deal short form prospectus offering.
Auxly issued 54,763,000 units at a price of $0.315 per unit for gross proceeds of $17,250,345, including the full exercise of the over-allotment option.
The offering was led by ATB Capital Markets Inc. as sole bookrunner and Cantor Fitzgerald Canada Corporation acting as co-lead underwriters, together with a syndicate of underwriters including Desjardins Capital Markets, Raymond James Ltd., and Mackie Research Capital Corporation.
A.G.P./Alliance Global Partners acted s the sole U.S. sub-agent and financial advisor to the company in connection with the offering in the United States.
Each unit includes one common share and one-half common share purchase warrant. Each whole warrant shall entitle the holder to purchase one common share at an exercise price of $0.38 at any time up to 36 months from 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.
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) is down 5.77 per cent, trading at C$0.245 per share at 10 am ET.