Auxly Announces Repayment of Remaining Unsecured Convertible Debentures and Expiration of Warrants Due January 16, 2020

Auxly Announces Repayment of Remaining Unsecured Convertible Debentures and Expiration of Warrants Due January 16, 2020

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.com
Phone: 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.

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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Published at Fri, 17 Jan 2020 12:33:18 +0000