Auxly Cannabis Group Inc (CBWTF)

[NickDiaz209]

Auxly Cannabis Group Inc. (XLY.V) (CBWTF) (“Auxly” or the “Company”) today announced that, further to the Company's October 18, 2019 press release, certain holders of the Company's remaining 6% unsecured convertible debentures in the principal amount of $98,690,000 maturing on January 16, 2020 (the "Debentures") elected to either convert or amend their Debentures, resulting in $95,425,001 of the principal amount of the Debentures being settled and reducing Auxly’s interest expense by approximately $1.25 million through: (i) the repayment of $79,439,174 of debt; and (ii) the conversion of $15,985,826 into 21,602,460 common shares of the Company at the price of $0.74 per share. “The successful repayment of the majority of the Debentures has strengthened our balance sheet and effectively left Auxly with no long-term debt payable for the next three years,” said Hugo Alves, CEO of Auxly.