Auxly Cannabis repays, converts $95.43 million 6% debentures

By Marisa Wong

Los Angeles, Oct. 30 – Auxly Cannabis Group Inc. announced that holders of its remaining 6% convertible debentures due Jan. 16, 2020 elected to either convert or amend their debentures.

As a result, Auxly settled $95,425,001 of the debentures, reducing its interest expense by roughly $1.25 million, according to a news release.

Specifically, Auxly repaid $79,439,174 of debt and converted $15,985,826 of the debentures into 21,602,460 common shares at a price of $0.74 per share.

The Toronto-based cannabis company recently reduced the conversion price to $0.74 per share from $1.55 per share, as previously reported.

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