RE:RE:RE:RE:RE:RE:RE:RE:Sexy Quarterly financials With this current funding in place Auxly considers its operations for 2021 to be FULLY FUNDED !!
Read the updated an final prospectus filed on Sedar dated Feb. 2, 2021.
In it you will see that expanding and upgrading Kolab Project is a top priority. As well the management team has made funding operations a top priority by electing to hold back on committing funding for Robinsons OG and another Ethanol Extraction system for Dosecann. A sensible and prudent decision in my opinion. Well done!!
NO MORE CHEAP FINANCING !!
Hip! Hip! Hooray!!
You will also see that Auxly has drawn only $11,250,000 off the $25mil Standby Financing in 5 Tranches. Terms available on Sedar filed April of 2020.
Technically, that leaves $13.750,000 Standby financing available should Auxly absolutely require it. A good short term cushion, albeit less desirable than the financing currently being cleared.
The plan is to avoid any further dilution.
The line of credit is more of a purchasing and sales tool for business to process orders.
Hold tight, mates!
cheers