Welcome to our dedicated page for Auxly Cannabis news (Ticker: CBWTF), a resource for investors and traders seeking the latest updates and insights on Auxly Cannabis stock.
Auxly Cannabis Group Inc. (OTCQB: CBWTF; TSX: XLY) generates frequent news as a Canadian consumer packaged goods company focused on cannabis products. Company updates center on its branded dried flower, pre-roll and vape offerings, its financial performance, and developments in its capital structure.
News items often cover quarterly and interim financial results, where Auxly reports on net revenues, gross margin on finished cannabis inventory sold, adjusted EBITDA and net income. These releases also highlight commercial metrics such as national market share, category leadership in all-in-one vapes and non-infused pre-rolls, and the performance of key brands like Back Forty, Liquid Imagination and Fire Breath.
Auxly’s news flow also includes announcements about strategic and financial transactions. Examples include amendments and extensions to its credit facility with a syndicate of lenders led by the Bank of Montreal, the settlement of amounts owing to Imperial Brands plc through equity and pre-funded warrants, and the repayment of specific inventory loans. The company presents these developments as steps that reduce debt, lower interest expense and strengthen its balance sheet.
Operational and corporate updates can feature product and brand innovations, such as the launch of Back Forty Backpackers pre-rolls and the introduction of the South Point brand, as well as expansion into new provincial markets like Quebec. Governance and shareholder-related items, including annual meeting results and board elections, are also disclosed through news releases.
Investors and observers following CBWTF news can use this page to track Auxly’s earnings reports, capital structure changes, brand and product announcements, and other corporate communications that the company distributes through wire services.
Auxly Cannabis Group reported its Q3 2022 financial results, showing total net revenues of $19.8 million, a 19% decrease from the same quarter last year. Year-to-date revenues increased by 28% to $69.8 million. The company recorded a net loss of $60.1 million for Q3, compared to $13.5 million in Q3 2021. Adjusted EBITDA improved to negative $5.8 million, a 5% improvement year-over-year. Auxly continues to expand its product offerings and ranks among the top 10 licensed producers in Canada, focusing on cost control and operational efficiencies.
Auxly Cannabis Group Inc. (OTCQX: CBWTF) announced plans to report its earnings for Q3 2022, which ended on September 30, 2022, on November 14, 2022, before the market opens. The company will also hold a conference call on the same day at 10:00 a.m. EST to discuss the results. Auxly focuses on developing and distributing cannabis products for wellness and recreational consumers, emphasizing quality and safety in its offerings.
Auxly Cannabis Group released its financial results for Q2 2022, reporting net revenues of $27.3 million, a 31% increase year-over-year. The net loss was reported at $14.3 million, translating to a loss of $0.02 per share. Despite the losses, Adjusted EBITDA improved by 37% from the previous quarter to negative $4.0 million. The company maintained its top position in Cannabis 2.0 sales, launching 27 new SKUs in the first half of the year. Proceeds from asset sales reached $10.1 million, strengthening the balance sheet, while total assets declined by 9% to $409.9 million.
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.
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