Business
Auxly Provides Update on Stalking Horse Bid for Ayurcann
Auxly Cannabis Group Inc. (TSX: XLY) (OTCQB: CBWTF) ("Auxly" or the "Company"), a leading consumer packaged goods company in the cannabis products market, today announced that its stalking horse bid for the assets of Ayurcann Holdings Corp. ("Ayurcann") was not selected as the successful bid in the court-supervised sale process.
About this update from Ayurcann Holdings Corp.
[{"type":"text","content":"TORONTO, April 13, 2026 /CNW/ - Auxly Cannabis Group Inc. (TSX: XLY) (OTCQB: CBWTF) ("Auxly" or the "Company"), a leading consumer packaged goods company in the cannabis products market, today announced that its stalking horse bid for the assets of Ayurcann Holdings Corp. ("Ayurcann") was not selected as the successful bid in the court-supervised sale process.","length":397,"tagName":"p"},{"type":"image","alt":"Auxly Logo (CNW Group/Auxly Cannabis Group Inc.)","displaySize":"","headline":null,"caption":"Auxly Logo (CNW Group/Auxly Cannabis Group Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":232,"height":85,"url":"https://media.zenfs.com/en/cnwgroup.com/8c673c7484ab54fcae5cc98f8b27753a"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/YNLtFPcPgkrzoJAZGhK4BQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTE1NA--/https://media.zenfs.com/en/cnwgroup.com/8c673c7484ab54fcae5cc98f8b27753a","width":232,"height":85}},"href":"https://mma.prnewswire.com/media/2954258/Auxly_Cannabis_Group_Inc__Auxly_Provides_Update_on_Stalking_Hors.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"As previously disclosed, the stalking horse bid was submitted in the Ayurcann sale process concurrently with Auxly providing debtor‑in‑possession financing to Ayurcann in a principal amount of up to $2.0 million (the "DIP Facility"). The DIP Facility is non‑revolving, bearing interest at 12% per annum, with a 2.0% upfront commitment fee earned and paid to the Company upon execution. The DIP Facility is secured by way of a Court‑ordered super‑priority charge in favour of the Company over all of Ayurcann's property.","length":538,"tagName":"p"},{"type":"text","content":"Pursuant to the terms of the sales process, Auxly's bid has been selected as the "Back-Up Bid" in accordance with the sale process rules and, should the successful bid not close by May 15, 2026, will be the winning bidder at its original stalking horse bid amount.","length":278,"tagName":"p"},{"type":"text","content":"As part of the closing of the successful bid, the DIP Facility will be repaid, including interest, by the successful bidder. Additionally, the Break Fee and Expense Reimbursement contemplated in the stalking horse bid will be paid to the Company as part of the closing of the s...