Auxly Cannabis closes C$123M investment and R&D Partnership with Imperial Brands
September 25, 2019
123.00 Million CAD
On September 25, 2019, Auxly Cannabis Group ("Auxly") closed the previously announced Investment and R&D Partnership with Imperial Brands PLC ("Imperial Brands"), whereby Imperial Brands invested C$123 million in Auxly by way of a debenture convertible to 19.9% ownership of Auxly. Imperial Brands also granted Auxly global licenses to Imperial Brands' vaping technology and access to its vapor innovation business, Nerudia. In addition, Auxly will become Imperial Brands' exclusive partner for the future development, manufacture, commercialization, sale and distribution of cannabis products globally. This transaction will allow Auxly to continue to execute on its strategic objectives and capitalize on emerging growth opportunities.
Auxly is an international cannabis company based in Toronto with diverse operations across Canada and Uruguay.
Based in the United Kingdom, Imperial Brands manufactures, imports, markets and sells tobacco and tobacco-related products.
McCarthy Tétrault LLP advised Auxly with a team co-led by Robert Richardson and Rami Chalabi that included Ranjeev Dhillon, Victoria Zed, Vincent Yip, Matthew Harris and Michael Shahinian.