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Auxly Cannabis Group Inc TSX: XLY-T

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Auxly Acquires 100% Ownership of Sunens and Amends Credit Facility

Globe Newswire - Mon Nov 22, 2021

TORONTO, Nov. 22, 2021 (GLOBE NEWSWIRE) -- Auxly Cannabis Group Inc. (TSX - XLY) (“Auxly” or the “Company”), a leading consumer packaged goods company in the cannabis products market, today announced that it has acquired 100% ownership of Sunens Farms Inc. (“Sunens”). Pursuant to a share purchase agreement between Auxly and Peter Quiring, the Company acquired all the issued and outstanding securities of Sunens not already owned by Auxly (the “Acquisition”). Concurrent with the Acquisition, Sunens and the Company have amended and restated Sunens’ secured credit facility that was entered into in September 2019 (as amended, the “Amended and Restated Credit Facility”) underwritten by a syndicate of lenders led by the Bank of Montreal (“BMO”), bringing the total principal indebtedness thereunder to $62.5 million.

Read more at globenewswire.com

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