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.”

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

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