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

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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”) currently announced that it has received approval from the TSX Venture Exchange (the “TSXV”) to amend the conversion value 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 offer written notice (the “Notice”) to holders of Debentures advising them of the proposed reduction in the conversion value and delivering holders with the chance to instantly convert the principal quantity of their Debentures at the revised conversion value. If a holder consents to the reduction in the conversion value 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. Need to no Debentures be converted, Auxly has enough money obtainable to repay the Debentures when they come due.

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

Auxly is an international cannabis business devoted to bringing revolutionary, efficient, and higher-high-quality cannabis merchandise to the healthcare, wellness and adult-use markets. Auxly’s seasoned group of sector initially-movers and enterprising visionaries has secured a diversified provide of raw cannabis, sturdy clinical, scientific and operating capabilities and top solution investigation and improvement infrastructure in order to build trusted merchandise and brands in an expanding worldwide market place.

Understand much more at www.auxly.com and keep up to date at Twitter: @AuxlyGroup Instagram: @auxlygroup Facebook: @auxlygroup LinkedIn: business/auxlygroup/

Original Press Release

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Published by NCV Newswire

NCV Newswire
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