Auxly closed a $123.0 million investment and R&D partnership with Imperial Brands.
TORONTO, Nov. 22, 2019 (GLOBE NEWSWIRE) — Auxly Cannabis Group Inc. (TSX.V – XLY) (OTCQX: CBWTF) (“Auxly” or the “Company“) today released its financial results for the three and nine months ended September 30, 2019. These filings and additional information regarding Auxly are available for review on SEDAR at www.sedar.com.
Q3 2019 Highlights and Subsequent Events
Auxly closed a $123.0 million investment and R&D partnership with Imperial Brands. Sunens closed syndicated credit facilities and received debt financing in the aggregate amount of $84.0 million. Auxly announced the retirement of approximately 97% of the remaining 6% unsecured convertible debentures through the repayment of approximately $80.0 million of principal and the conversion of approximately $16.0 million into commons shares. Auxly signed a brokerage agreement with Kindred Partners Inc. to act as Auxly’s sales agent for its adult-use cannabis products in CanadaDosecann successfully submitted New Product Notifications to Health Canada for a total of 83 new derivative product formatsKolab and Dosecann both received their amendments to their sales licences, authorizing each to sell cannabis extract, edible and topical products to the Canadian market as soon as legally permitted. Officially opened the Lloydminster store on July 11, 2019; Kolab is now able to commence local cannabis sales and province-wide e-commerce in SaskatchewanHugo Alves was appointed the Company’s new CEO, replacing Chuck Rifici, who continues to serve as Chairman of Auxly’s Board of DirectorsQ3 Highlights*attributable to shareholders of the Company
** comparable period is December 31, 2018Results of Operations