Auxly to Offer C$ 15 Million Systems at C$ 0.37

Auxly Reveals $15 Million Bought-Deal Public Offering

TORONTO, Jan. 20, 2021 (WORLD NEWSWIRE)– Auxly Marijuana Group Inc. (” Auxly” or the “Business”) (TSXV: XLY) (OTCQX: CBWTF) is delighted to reveal that it has actually participated in a contract pursuant to which ATB Capital Markets Inc. and Cantor Fitzgerald Canada Corporation, as co-lead underwriters and joint bookrunners, together with a distribute of underwriters (jointly, the “Underwriters”), will buy 40,550,000 Systems of the Business (the “Systems”), on a bought-deal basis at a cost per System of $0.37 (the “Problem Cost”) for gross earnings of $15,003,500 (the “Offering”).

Each System will be consisted of one typical share of the Business (each a “Typical Share”) and half of one Typical Share purchase warrant of the Business (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to buy one Typical Share at a workout rate of $0.46 at any time as much as 36 months from closing of the Offering.

The Business has actually approved the Underwriters an alternative (the “Underwriters’ Alternative”) to increase the size of the Offering by as much as an aggregate variety of Systems, and/or the parts thereof, equivalent to 15% of the overall variety of Systems provided under the Offering, such Underwriters’ Alternative being exercisable at any time and from time to time as much as thirty days following the closing of the Offering.

The net earnings from the Offering will be utilized for working capital and basic business functions.

The closing of the Offering is anticipated to happen on or about February 10, 2021 (the “Closing”), or such later or earlier date as the Underwriters and the Business might concur upon, and goes through the Business getting all required regulative approvals, consisting of the approval of the required securities regulative authorities, consisting of the TSX Endeavor Exchange.

The Systems will be provided by method of a brief type prospectus to be submitted in those provinces of Canada as the Underwriters might designate (other than Quebec) pursuant to National Instrument 44-101– Brief Kind Prospectus Distributions and might be provided in the United States on a personal positioning basis pursuant to a suitable exemption from the registration requirements under appropriate U.S. law.

No securities regulative authority has actually either authorized or the contents of this press release. This press release will not make up a deal to offer or the solicitation of a deal to purchase nor will there be any sale of the securities in any jurisdiction in which such deal, solicitation or sale would be illegal previous to registration or certification under the securities laws of any such jurisdiction. This press release is not a deal to offer or the solicitation of a deal to purchase the securities in the United States or in any jurisdiction in which such deal, solicitation or sale would be illegal previous to certification or registration under the securities laws of such jurisdiction. The securities being provided have actually not been, nor will they be, signed up under the United States Securities Act of 1933, as changed, and such securities might not be provided or offered within the United States or to, or for the account or advantage of, U.S. individuals missing registration or a suitable exemption from U.S. registration requirements and appropriate U.S. state securities laws.

About Auxly Marijuana Group Inc. (TSX.V: XLY)
Auxly is a global marijuana business committed to bringing ingenious, reliable, and top quality marijuana items to the medical, wellness and adult-use markets. Auxly’s skilled group of market first-movers and resourceful visionaries have actually protected a varied supply of raw marijuana, strong scientific, clinical and running abilities and leading research study and advancement facilities in order to produce relied on items and brand names in a broadening international market.

Find out more at www.auxly.com and keep up to date at Twitter: @AuxlyGroup; Instagram: @auxlygroup; Facebook: @auxlygroup; LinkedIn: company/auxlygroup/.

Initial news release

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