Home Financial Markets Penny Stocks What are the prospects of pot stocks as Auxly Cannabis Group Inc...

What are the prospects of pot stocks as Auxly Cannabis Group Inc (CBWTF) stock fumbled?

Shares of Auxly Cannabis Group Inc (CBWTF) closed -6.0% down at $0.2900 on Friday. The share price is currently hovering around the day range of $0.3393 to $0.2830. The shares of CBWTF gave up over -2.68% over the past month, with over 3.54 million shares being traded on average throughout the month. If we look at CBWTF’s performance over the last three months, the stock fell over -4.67%, while the average volume was 2.42M. In the past 12 months, the stock has fallen over -30.95%, leaving a market cap of $200.64M.

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About the Company


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An international cannabis company dedicated to high-quality cannabis for the medical and wellness markets, Auxly Cannabis Group Inc, (CBWTF) is an innovation in the cannabis industry. To create trusted products and brands in an expanding global market, Auxly’s experienced team joined forces with industry veterans and visionaries to secure a diverse and diversified supply of raw cannabis, strong scientific and clinical capabilities, and a leading research and development infrastructure.

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Recent Happenings

Feb. 08, 2021, It was announced by Auxly Cannabis Group Inc (CBWTF) that its short-form prospectus off-market offering, under which the Company issued 54,395,000 units at $0.37 per Unit, has closed for gross proceeds of $20,126,150, including the full exercise of the investor over-allotment option.

Cantor Fitzgerald and ATB Capital Markets led the Offering as joint book-runners.

Each Unit represents one common stock of the Firm and one-half of one Common Share purchase warrant. The holder of each Warrant shall be entitled to purchase one Common Share at an exercise price of $0.46 at any time during the 36 months following the Offering.

Jan. 21, 2021, The Auxly Cannabis Group Inc. (OTCQX: CBWTF) has disclosed that it has revised its agreement with ATB Capital Markets Inc. and Cantor Fitzgerald Canada Corporation, supporting the previously announced short-form prospectus issue for 47,300,000 units at $0.37 per Unit for aggregate gross proceeds of $17,501,000.

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Summary

There are many legal marijuana businesses that investors can invest in. Even so, investors still have good reason to be cautious as they move forward, even in the midst of all of the hype.

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