Business
Auxly Announces Closing of $3.36 Million Private Placement
Auxly Announces Closing of $3.36 Million Private Placement Canada NewsWire /N...
About this update from Auxly Cannabis Group Inc.
[{"type":"text","content":"\n \n \n \n Auxly Announces Closing of $3.36 Million Private Placement\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Feb. 15, 2023\n \n \n /CNW/ - Auxly Cannabis Group Inc. (\"\n \n Auxly\n \n \" or the \"\n \n Company\n \n \") (TSX: XLY) (OTCQB: CBWTF) is pleased to announce that it has closed its previously announced private placement for 96,000,000 common shares of the Company (\"\n \n Common Shares\n \n \") at a price of\n \n $0.035\n \n per Common Share and 96,000,000 Common Share purchase warrants (\"\n \n Warrants\n \n \"), with each Warrant entitling the investors to purchase one Common Share at an exercise price of\n \n $0.045\n \n per Common Share at any time up to 60 months following the date of issuance thereof (the \"\n \n Offering\n \n \"), resulting in total gross proceeds of approximately\n \n $3.36 million\n \n , before deducting any applicable advisor or finder fees or Offering expenses.\n \n \n \n \n \n \n \n \n \n The net proceeds from the Offering will be used for working capital and general corporate purposes.\n \n \n In\n \n the United States\n \n , the Common Shares, the Warrants and the Common Shares issuable upon the exercise of the Warrants were offered on a private placement basis pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the \"\n \n U.S. Securities Act\n \n \"), and certain other jurisdictions in accordance with applicable securities laws. No securities will be offered for sale or sold in\n \n Canada\n \n .\n \n \n No securities regulatory authority has either approved or disapproved of the contents of this news release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to re...