Auxly Cannabis Group (TSXV:XLY) announced a partnership with Cannabis OneFive, a document control software systems company for the cannabis industry.
As quoted in the press release:
Auxly’s wholly-owned subsidiary, Dosecann Inc. (“Dosecann”), will become a lead subscriber of C15’s software, and the Company expects the C15 software to be deployed at other Auxly facilities.
In connection with the strategic partnership, the Company has entered into a share exchange agreement (the “Share Exchange Agreement”) with C15. Pursuant to the Share Exchange Agreement, Auxly will issue 429,507 common shares and make a cash payment of $50,000 to C15, and Auxly will receive 9,000,000 common shares in the capital of C15 and a common share purchase warrant entitling Auxly to purchase 4,250,500 common shares of C15 at an exercise price of $0.075 per common share, representing a 30 [percent] ownership interest in C15 on a fully-diluted basis.
Hugo Alves, President of Auxly commented: “Forming this strategic partnership with Cannabis OneFive provides Dosecann with a robust and much needed operational and compliance system in the highly regulated Canadian cannabis industry. We look forward to working with the team at C15 to implement and optimize the system at Dosecann over the coming months as we develop the facility.”