Osho schreef op 25 juli 2019 12:56:
www.globenewswire.com/news-release/20...Zit er zelf sinds een wee niet meer in:
Auxly Welcomes $123 Million Investment and R&D Partnership with Imperial Brands
Driving future growth in derivative cannabis products
Email Print Friendly Share
July 25, 2019 06:00 ET | Source: Auxly Cannabis Group Inc.
Imperial Brands to invest approximately $123 million by way of a debenture convertible into 19.9% ownership of Auxly at a conversion price of $0.81 per share
Auxly granted global licences to Imperial Brands’ vaping technology and intellectual property and access to its vapor innovation business, Nerudia
Auxly to become Imperial Brands’ exclusive partner for cannabis-related initiatives
Jointly establish a Commercial Cooperation Group to foster collaboration between the parties
Ideally timed to benefit from the legalization of cannabis derivative products in Canada later this year
VANCOUVER, British Columbia, July 25, 2019 (GLOBE NEWSWIRE) -- Auxly Cannabis Group Inc. (TSX.V: XLY) (OTCQX: CBWTF) (“Auxly”), an international cannabis company, today announced that Imperial Brands PLC (“Imperial Brands”) will invest approximately $123 million in Auxly by way of a convertible debenture and grant Auxly global licences to Imperial Brands’ vaping technology and access to its vapor innovation business, Nerudia (the “Transaction”).
“This investment from Imperial Brands will enhance Auxly’s ability to continue to deliver on our business plans and accelerate our growth initiatives to expand our portfolio of branded derivative products,” said Hugo Alves, President of Auxly. “The timing is ideal as we prepare to bring our portfolio of innovative cannabis products to the Canadian market following the legalization of edibles, extracts and topicals later this year.”
Chuck Rifici, Chairman and CEO of Auxly, added: “Following its extensive evaluation of the Canadian cannabis market, we’re thrilled that Imperial Brands selected Auxly as its partner of choice due to the high calibre of our assets, people and capabilities. We are particularly excited to partner with Imperial Brands on current and future intellectual property and product development, starting with immediate access to its portfolio of vaping technologies and research and development capabilities.”
Imperial Brands is an international fast-moving consumer goods company that continually evolves to embrace changing market dynamics and develop new consumer experiences. Its Next Generation Products prioritizes the fast-growing vapor segment with innovative products and proprietary technologies, including its pioneering brand, blu.
Strategic Rationale
This collaborative partnership accelerates the delivery of Auxly’s business plan ahead of significant regulatory change to the Canadian cannabis market, as Auxly continues to focus on the development of science-backed, innovative, branded derivative products. As part of the Transaction, Imperial Brands will grant Auxly global licences to its vaping technology for cannabis use and access to its vapor innovation business, Nerudia. The shared ability to rapidly innovate as the Canadian market evolves is key to future growth and Auxly will work closely with a small dedicated team from Nerudia in developing a portfolio of new and enhanced vapor products and brands.
Upon completion of the Transaction, Auxly will:
Receive an immediate capital injection of approximately $123 million to continue to execute on its strategic objectives and capitalize on emerging growth opportunities;
Obtain rights to Imperial Brands’ industry-leading vaping technology and intellectual property for cannabis use globally;
Be granted access to Imperial Brands’ vapor innovation business, Nerudia, which has a growing team dedicated to cannabis research and a facility that is already licensed for research and development activities with cannabis;
Become Imperial Brands’ exclusive partner for the future development, manufacture, commercialization, sale and distribution of cannabis products of any kind anywhere in the world; and
Further strengthen its governance through the addition of one director nominee and one non-voting observer to Auxly’s Board of Directors, each to be designated by Imperial Brands.