Auxly to Chop Conversion Value on $100 Million in Debt to C$.74 – New Cannabis Ventures

Auxly Announces Proposed Reduction to Conversion Value of six% Unsecured Convertible Debentures Due January 16, 2020

TORONTO, Oct. 18, 2019 (GLOBE NEWSWIRE) — Auxly Cannabis Group Inc. (TSX.V: XLY) (OTCQX: CBWTF) (“Auxly” or the “Company”) nowadays announced that it has received approval from the TSX Venture Exchange (the “TSXV”) to amend the conversion price tag below its six% unsecured convertible debentures in the principal quantity of $100,000,000 maturing on January 16, 2020 (the “Debentures”) from $1.55 per share to $.74 per share.

The Business will give written notice (the “Notice”) to holders of Debentures advising them of the proposed reduction in the conversion price tag and supplying holders with the chance to straight away convert the principal quantity of their Debentures at the revised conversion price tag. If a holder consents to the reduction in the conversion price tag but fails to elect to convert the outstanding principal quantity of its Debenture inside the time specified in the Notice, the Business will have the correct to prepay all or any portion of the outstanding principal quantity of a consenting holder’s Debenture at any time on or prior to January 16, 2020. Should really no Debentures be converted, Auxly has adequate money accessible to repay the Debentures when they come due.

About Auxly Cannabis Group Inc. (TSX.V: XLY) (OTCQX: CBWTF)

Auxly is an international cannabis firm devoted to bringing revolutionary, efficient, and higher-good quality cannabis solutions to the healthcare, wellness and adult-use markets. Auxly’s skilled group of sector 1st-movers and enterprising visionaries has secured a diversified provide of raw cannabis, powerful clinical, scientific and operating capabilities and major solution analysis and improvement infrastructure in order to make trusted solutions and brands in an expanding international marketplace.

Study extra at www.auxly.com and keep up to date at Twitter: @AuxlyGroup Instagram: @auxlygroup Facebook: @auxlygroup LinkedIn: firm/auxlygroup/

Original Press Release

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