2023-07-26 17:20:19 ET
- Auxly Cannabis ( TSX: XLY:CA ) ( OTCQB:CBWTF ) said Tuesday that CFO Brian Schmitt resigned and, separately, the company signed an agreement with Imperial Brands to amend certain provisions of its previously issued $123 million debenture.
- Imperial Brands and Auxly have agreed to extend the maturity date of the debenture by 24 months, from September 25, 2024, to September 25, 2026.
- The parties anticipate the amendment coming into effect on August 16, 2023.
- The company has also received all necessary approvals required to implement the warrant amendments that were previously announced on February 10, 2023, and such warrant amendments are now effective.
- Additionally, Murray McGowan has resigned from the board effective immediately as a result of Imperial Brands holding less than 15% of the company.
- Press Release .
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Auxly Cannabis CFO resigns, co extends maturity on $123M debenture