Auxly Announces $3.36 Million Private Placement
TORONTO – Auxly Cannabis Group Inc. (“Auxly” or the “Company”) (TSX: XLY) (OTCQB: CBWTF) is pleased to announce that it has entered into an agreement with institutional investors pursuant to which the investors have agreed to purchase, on a private placement basis, 96,000,000 common shares of the Company (“Common Shares”) at a price of $0.035 per Common Share and 96,000,000 Common Share purchase warrants (“Warrants”), with each Warrant entitling the investors to purchase one Common Share at an exercise price of $0.045 per Common Share at any time up to 60 months following the date of issuance thereof (the “Offering”), resulting in total gross proceeds of approximately $3.36 million, before deducting any applicable advisor or finder fees or Offering expenses. The net proceeds from the Offering will be used for working capital and general corporate purposes. The closing of the Offering is expected to occur during the week of February 13, 2023 (the “Closing”), or such other da...