Auxly Announces Repayment of Remaining Unsecured Convertible Debentures and Expiration of Warrants Due January 16, 2020
January 17 2020 - 6:30AM
Auxly Cannabis Group Inc. (TSX.V: XLY) (OTCQX:
CBWTF) (“
Auxly” or the
“
Company”) today announced that, further to the
Company's October 30, 2019 press release, it has settled the
remaining 6% unsecured convertible debentures that matured on
January 16, 2020, for approximately $2.7 million.
In addition, warrants issued on January 16, 2018
to purchase 32,200,000 shares of the Company’s common stock at a
strike price of $1.80 expired as of January 16, 2020. The
warrants, which traded under the TSX venture symbol XLY.WT.A, have
been delisted.
“The repayment of the remaining debentures,
together with the expiration of the 2018 warrants, has simplified
our capital structure,” said Hugo Alves, CEO of Auxly. “As we look
to continue to lead the derivative cannabis market and increase
revenues throughout 2020, our investors can focus on the
strengthening fundamentals of our business.”
ON BEHALF OF THE BOARD
"Hugo Alves" CEO
About Auxly Cannabis Group Inc. (TSX.V:
XLY) (OTCQX: CBWTF)
Auxly is an international cannabis company
dedicated to bringing innovative, effective, and high-quality
cannabis products to the medical, wellness and adult-use markets.
Auxly's experienced team of industry first-movers and enterprising
visionaries has secured a diversified supply of raw cannabis,
strong clinical, scientific and operating capabilities and leading
product research and development infrastructure in order to create
trusted products and brands in an expanding global market.
Learn more at www.auxly.com and stay up to date
at Twitter: @AuxlyGroup; Instagram:
@auxlygroup; Facebook: @auxlygroup; LinkedIn:
company/auxlygroup/.
Investor Relations:
For investor enquiries please contact our
Investor Relations Team: Email: IR@auxly.comPhone:
1.833.695.2414
Media Enquiries
(only):
For media enquiries or to set up an interview
please contact:Email: press@auxly.com
Notice Regarding Forward Looking
Information
This news release contains certain
"forward-looking information" within the meaning of applicable
Canadian securities law. Forward-looking information is frequently
characterized by words such as "plan", "continue", "expect",
"project", "intend", "believe", "anticipate", "estimate", "may",
"will", "potential", "proposed" and other similar words, or
information that certain events or conditions "may" or "will"
occur. This information is only a prediction. Various assumptions
were used in drawing the conclusions or making the projections
contained in the forward-looking information throughout this news
release. Forward-looking information includes but is not limited
to: consumer preferences, political change, future legislative and
regulatory developments involving cannabis and cannabis products;
and competition and other risks affecting the Company in particular
and the cannabis industry generally.
A number of factors could cause actual results
to differ materially from a conclusion, forecast or projection
contained in the forward-looking information included in this
release. The forward-looking information in this release is based
on information currently available and what management believes are
reasonable assumptions. Forward-looking information speaks only to
such assumptions as of the date of this release. Readers should not
place undue reliance on forward-looking information contained in
this release. The forward-looking information contained in this
release is expressly qualified by the foregoing cautionary
statements and is made as of the date of this release. Except as
may be required by applicable securities laws, the Company does not
undertake any obligation to publicly update or revise any
forward-looking information to reflect events or circumstances
after the date of this release or to reflect the occurrence of
unanticipated events, whether as a result of new information,
future events or results, or otherwise.
None of the securities referenced herein have
been, or will be, registered under the United States Securities Act
of 1933, as amended, and may not be offered or sold in the United
States or to, or for the account or benefit of, U.S. persons absent
registration or an applicable exemption from the registration
requirements. This news release will not constitute an offer to
sell or the solicitation of an offer to buy any securities and nor
will there be any sale of securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
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