IMAX Corporation (IMAX) has released an update.
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Auxly Cannabis Group Inc. has transformed its financial landscape by converting over $123 million of debt into equity, granting Imperial Brands plc a 19.8% ownership stake. The move eliminates a significant debt burden and is anticipated to save Auxly roughly $14 million in annual interest expenses. This strategic financial restructuring aims to strengthen Auxly’s balance sheet and propel the company toward profitable growth.
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