Geometry Dash APK Hill Climb Racing APK
59.4 F
New York
Thursday, October 21, 2021

Auxly Cannabis Group Inc (OTCMKTS:CBWTF) Attempts To Recover After The Recent Move

Must read

Green Thumb Industries Inc (OTCMKTS:GTBIF) Trades Near All-Time High: What Next?

After having been in the dumps for more than a year, the cannabis sector has managed to make a remarkable comeback. Investors...

VIVO Cannabis Inc (OTCMKTS:VVCIF) Stock Turns Volatile: Uptrend in Jeopardy

Anyone watching the market knows the cannabis sector has been booming again. Since the start of the year, the cannabis sector has...

Artificial Intelligence Technology Solutions (OTCMKTS:AITX) Looks RAD: Extends Rally

The artificial intelligence space has grown at a highly impressive rate over the past few years and nowadays, investors are increasingly looking...

Tesoro Enterprises, Inc. (OTCMKTS:TSNP) In Focus: Continues to Hit New Highs

If you are looking for stocks that have managed to record significant gains over the past couple of months or so then...

Among the many sectors that have made a comeback in the stock markets this year, the comeback made by the cannabis sector has been quite notable.

Many of the cannabis stocks have rallied strongly in 2021 and in recent days, it is the Auxly Cannabis Group Inc (OTCMKTS:CBWTF) stock that has emerged as a notable gainer.

Recent News

Auxly Cannabis Group Inc (OTCMKTS:CBWTF) has been on an impressive run over the course of the past two weeks and during that period it has delivered gains of as much as 40%. Thursday CBWTF pulled back nearly 20%, so eyes will be on it Friday to see if it can get back on track.

One of the more important triggered behind the rally in the stock came about earlier this week when the company made a key announcement.

On Monday, Auxly announced that it successfully completed the bought deal public offering and raised as much as $20 million in fresh capital. It is a significant development for the company and the excitement among investors is understandable.

In this particular offering, Auxly offered as many as 54,395,000 units in the company for $0.37 each. This also included the full exercise of the overallotment option from Auxly. Cantor Fitzgerald Canada Corporation and ATB Capital Markets led the whole operation and worked as both co-lead underwriters as well as book-runners.

The units in question are made up of one common share in Auxly and half of a common share purchase warrant.

One warrant is going to give the holder the opportunity to get one common share of the company at the exercise price of $0.46 up until 36 months from the day the offering closed.

It has also been revealed by Auxly that the fresh capital is going to be used by the company for working capital purposes and other reasons that had already been enumerated in the prospectus for the offering.

The closure of the offering has naturally given rise to a certain degree of optimism around the company. It remains to be seen if the stock can maintain its momentum over the coming days.

Disclaimer: We hold no shares of CBWTF stock

Latest article

88 Energy Ltd (OTCMKTS:EEENF) Stock Surges 40% But Can’t Hold Gains

The oil and gas company 88 Energy Ltd (OTCMKTS:EEENF) seems to have come back on to the radars of investors over the...

Net Savings Link Inc (OTCMKTS:NSAV) Stock is Getting Pummeled Again

Nowadays there are plenty of options for investors when it comes to making investments in the cryptocurrency and...

Net Savings Link Inc (OTCMKTS:NSAV) Goes Parabolic Ahead of Important Event

As far as cryptocurrency and blockchain companies are concerned, there are many options nowadays for investors to explore.

Dark Pulse Inc (OTCMKTS:DPLS) Stock Moves in a Range After The Big Rally

The laser sensing system company Dark Pulse Inc (OTCMKTS:DPLS) has emerged as one of the major gainers over the course of the...

Halberd Corporation (OTCMKTS:HALB) Stock Doubles After ‘Proof of Concept’ News

Investors are always on the lookout for stocks which managed to record handsome gains over a short of period of time and...
Şehirler arası nakliyat ve Şehirler arası taşımacılık konusunda en uygun fiyatlar ve en kaliteli hizmet.
ofis taşıma firmaları ve ofis taşıma konusunda en uygun fiyatlar ve en kaliteli hizmet.
SmsVerifyer.com Affordable best sms verification service