Imperial Brands will buyout Auxly now there Profitable! $$$$They own 19.8% of the company already and paid $123 Million at $0.81 per share !!
You dont think Imperial Brands see's where Auxly is going now with the latest Q? Only going to get better as they streamline operations with automation. Sell nothing :) $$$$$
AUXLY ANNOUNCES COMPLETION OF CONVERSION OF OVER $123 MILLION OF PRINCIPAL AND INTEREST UNDER IMPERIAL DEBENTURE
- Imperial Brands plc converts over $123 million in total debt to shares resulting in 19.8% ownership
TORONTO, April 1, 2024 /PRNewswire/ - Auxly Cannabis Group Inc. (TSX: XLY) (OTCQB: CBWTF) ("Auxly" or the "Company") a leading consumer packaged goods company in the cannabis products market, is pleased to announce the completion of the conversion of $123.4 million of principal and accrued interest under the 4.00% unsecured convertible debenture of the Company due September 25, 2026 (the "Debenture") and the amendment to the amended and restated investor rights agreement dated July 6, 2021 (the "Investor Rights Agreement") with 1213509 B.C. Ltd., a wholly-owned subsidiary of Imperial Brands plc ("Imperial"), pursuant to the terms previously announced on March 25, 2024.
Imperial has converted (the "Conversion") (i) $121.9 million of the principal amount outstanding under the Debenture at an exercise price of $0.81 for 150,433,450 common shares in the capital of the Company ("Shares"), and (ii) $1.56 million of accrued interest under the Debenture into 90,882,667 Shares at a price of $0.017 (the "Interest Conversion Price"), resulting in Imperial holding an equity position in the Company of approximately 19.8%.
Better times lay ahead for Auxly :)