RE:RE:Bought-deal 12million I wasn't expecting financing at this time. I thought it would happen some time in December. It will. The deal will close December 11ish.
As SoCalLife pointed out, additional moneys were obviously required to carry the business through to generating profit. That was understood by most, I believe.
I wasn't expecting $10-$12million all at once. Thought they would carry on with smaller increments on an as needed basis.
In reviewing this $12,000,000 raise, sticker shock and timing threw a monkey wrench into Auxly's share price, that's for certain. The terms of this financing however, are in my opinion better than those under Tranches we experienced so far this year. The total level of dilution is close to that of the tranches. There is no ongoing debt attached, no 7.5% interest to pay and the warrants attached are exercised at at higher percentage gain. Compared to the Fourth Tranche this financing has better terms.
With that, management elected to get it all done at once, I suppose.
Now, let's get the job done!
I would like some clarity on the Dosecann expansion's current status as it is germane to recent financing and the future of Auxly as a whole.
Q3-2020 then Q4.
cheers