Auxly Cannabis Stock Price, News & Analysis

Auxly Cannabis Group has completed the sale of its Auxly Annapolis OG Inc. outdoor cultivation facility in Nova Scotia for $4.1 million. This sale contributes to a total of $10.1 million received from the sale of its cultivation assets in Nova Scotia. CEO Hugo Alves highlighted the strengthening of the company's cash position and its commitment to achieving Adjusted EBITDA profitability in 2022. The proceeds from these sales will support ongoing operations as the company seeks to reduce costs and streamline operations.

Auxly Cannabis Group Inc. (OTCQX: CBWTF) announced it will report its second-quarter earnings for 2022 on August 15, 2022, prior to market opening. The results will cover the period ended June 30, 2022. Auxly will also host a teleconference at 10:00 a.m. EST on the same day to discuss these results. Interested parties can access the audio webcast and participate by dialing in at least 10 minutes prior to the call. The company aims to provide quality cannabis products to wellness and recreational consumers.

Auxly Cannabis Group Inc. has launched a new brand extension, Edi's, under its Foray brand, introducing Edi's Gumdrops. These premium gummy snacks feature familiar flavors like lemon, lime, cherry, and orange with a unique low-dose of 0.5mg THC per piece, aimed at enhancing the consumer experience. This marks a first in Canada, promoting controlled cannabis consumption through snackable options. Edi's Gumdrops will be available by late August, alongside other products like CBD Blood Orange and CBN Blackberry Lavender, responding to consumer demand for flexible dosing formats.

Auxly Cannabis Group has successfully completed the sale of its Annapolis indoor cultivation facility in Kentville, Nova Scotia, for $6 million. This facility ceased operations in February 2022 and the sale proceeds are intended to enhance Auxly's cash position, supporting ongoing operational needs. CEO Hugo Alves expressed satisfaction with the transaction, highlighting its non-dilutive benefits for the company. Auxly, a prominent player in the cannabis market, aims to leverage these funds to further its strategic objectives.

Auxly Cannabis Group Inc. (OTCQX: CBWTF) announced the results of its annual general meeting held on June 30, 2022. A total of 159,835,106 common shares, representing 17.85% of all shares, were voted. All proposals in the information circular dated May 20, 2022, were approved by shareholders. Elected directors included Genevieve Young (97.42% approval), Hugo Alves (97.45%), and Conrad Tate (98.07%). Additionally, Ernst & Young LLP was reappointed as auditors for the 2022 fiscal year. For detailed voting results, visit www.sedar.com.

Auxly Cannabis Group has amended and restated its unsecured convertible debentures, allowing for a principal amount of $8.75 million to remain until July 15, 2022. The agreement includes a 7.5% interest rate, a reduced conversion price of $0.1380, and the extension of maturity to August 15, 2024. The company has repaid $2.5 million of the original $11.25 million issued under the Standby Facility. An amendment fee of $500,000 was paid in shares, along with warrants for 20 million shares issued to the investor. The TSX has conditionally accepted the amendments.

Auxly Cannabis Group Inc. (OTCQX: CBWTF) has scheduled its Annual General Meeting of Shareholders for June 30, 2022, at 10:00 a.m. EST in Toronto. Due to limited seating, pre-registration via IR@auxly.com is required 48 hours in advance. Shareholders must provide proof of vaccination to attend. An audio teleconference will be available for remote participants, though voting cannot occur through this medium. Detailed voting instructions are provided in the Management Information Circular available on SEDAR.

Auxly Cannabis Group reported a 147% increase in net sales for Q1 2022, reaching $22.6 million compared to $9.2 million in Q1 2021. Adjusted EBITDA improved by 14% year-over-year. Despite these gains, the company posted a net loss of $39.8 million, largely attributed to a $25.7 million impairment related to the closure of its Annapolis facilities. Auxly remains a market leader in Cannabis 2.0 products with a 20% market share in that category. The company plans to enhance operational efficiencies and aims for positive adjusted EBITDA in 2022.

Auxly Cannabis Group Inc. (OTCQX: CBWTF) will report its Q1 2022 earnings on May 16, 2022, before markets open. The report will cover results for the quarter ending March 31, 2022. Following the earnings release, Auxly will host a conference call on the same day at 10:00 a.m. EST, providing investors an opportunity to discuss the results. A replay will be available on the company's website within 24 hours. Auxly remains a prominent player in the Canadian cannabis market, focusing on innovative and high-quality products.