Auxly Cannabis Group Inc T.XLY

Imperial Brand buys 19.8% Stake in Auxly at $0.81 per share!

[1hot-techwoman]

Maybe they buy out the whole company??


https://www.osc.ca/en/industry/companies/mergers-and-acquisitions/take-over-bids-and-issuer-bids

[SCQuin]

You need to read the ER again. IB also converted interest owed for millions of shares at 0.017 cents each so the average cost was less than 0.81 cents. 

[1hot-techwoman]

I think you are the one who needs to read the latest news this mornig !! $121.9 million at $0.81 per share !! $1.56 million of accrued interest at $0.017 !!   Big difference my friend :) mperial 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

[SCQuin]

Do the math...the average price per share for IB in this conversion is about 0.51cents Still good thought. Notice they were careful to keep their position below 20% and to remove Auxly as the exclusive partner for Cannibis

[SCQuin]

An early warning report will be filed by Imperial with applicable Canadian securities regulatory authorities. To obtain a copy of the early warning report, please contact Matthew Brace at [phone].

[1hot-techwoman]

Guess why they did that?? :) Conflict of interest !! They probably buy out Auxly down the road IMO :) Cheers :)

[srtman03]

Good point !