Auxly Cannabis Stock Price, News & Analysis

Auxly Cannabis Group (OTCQX: CBWTF) will report its Q2 2021 earnings on August 16, 2021, before the market opens. The company provides innovative cannabis products for wellness and recreational markets, supported by a strong supply chain and R&D capabilities. A conference call will be held on the same day at 10:00 a.m. EST to discuss the financial results. Investors can access the replay on the company's website within 24 hours of the call.

Auxly Cannabis Group announces its exciting summer product lineup featuring popular brands like Kolab Project, Back Forty, Foray, and Dosecann. The company, which holds a 5.2% market share, recently made a strong entry into the dried flower market with Back Forty Pine Kush, capturing approximately 2% of the national flower market in June. The new offerings include unique strains, pre-rolls, and edibles aimed at enhancing consumer experience. Auxly continues to prioritize innovation and consumer insights to drive sales in a market worth over $2 billion annually.

Auxly Cannabis Group (OTCQX: CBWTF) announced amendments to a $123 million debenture and investor rights agreement with Imperial Brands. Key changes include a 24-month extension of the maturity date to September 25, 2024 and an annual right for Imperial to convert unpaid interest into common shares. The Company also completed the sale of its interest in Curative Cannabis for $6 million, strengthening its financial position without diluting shareholders. The amendments received minority shareholder approval on June 28, 2021.

Auxly Cannabis Group (OTCQX: CBWTF) announced the results of its annual general and special meeting held on June 28, 2021, where 132,758,409 common shares (17.62% of total shares) were voted. All resolutions, including the election of directors and the approval of Ernst & Young as auditors, received requisite majority support. Notably, the Imperial Amendment Resolution garnered 99.26% approval, excluding votes from Imperial Brands. The company continues to focus on delivering high-quality cannabis products in the wellness and adult-use markets.

Auxly Cannabis Group Inc. (OTCQX: CBWTF) announced its Annual General and Special Meeting of Shareholders on June 28, 2021, at 2:00 p.m. EST. To limit COVID-19 risks, physical attendance is discouraged. Only registered shareholders and appointed proxyholders can attend, requiring 48 hours' advance notice. The meeting will feature an audio teleconference, but voting will not be allowed via this method. Shareholders are encouraged to vote in advance. Questions can be submitted beforehand for potential responses during the call.

Auxly Cannabis Group Inc. (OTCQX: CBWTF) reported Q1 2021 financial results with net revenues of $10 million, a 1% increase from Q1 2020. The company maintained a strong market presence in Cannabis 2.0 products, holding 12.6% market share. SG&A expenses decreased by 5%, contributing to a reduced net loss of $10.5 million, down from $13.2 million in the previous year. Despite facing challenges from COVID-19 and inventory management changes, retail sales showed resilience. The company raised $8 million through a private placement to strengthen its balance sheet.

Auxly Cannabis Group Inc. (OTCQX: CBWTF) has announced a definitive agreement for Myconic Capital Corp. to acquire KGK Science Inc. for up to $16.5 million. The deal includes $12.5 million in purchase price, $1.5 million milestone payment for achieving $8 million in revenue, and $2.5 million in future service credits. This transaction is expected to close around June 7, 2021, pending regulatory approvals. Auxly aims to use the capital to optimize operations and enhance profitability, leveraging KGK’s expertise in the cannabis sector.

Auxly Cannabis Group Inc. (OTCQX: CBWTF) has appointed Andrea Fraser as Chief People Officer, effective immediately. Ms. Fraser, previously Director of Global Human Resources at Tilray, will oversee human resources, talent acquisition, and workplace inclusion initiatives. She will also manage responses to COVID-19 impacts on employees and operations. CEO Hugo Alves expressed confidence in Ms. Fraser's ability to enhance the company's culture, aiming for improved performance and success. Auxly is committed to producing high-quality cannabis products for wellness and adult-use markets.

Auxly Cannabis Group has launched the Dosecann Daily Relief CBD Cream, a high-strength topical cream containing 1,200mg of CBD per 60 ml unit, making it the most potent CBD topical in Canada. The cream is aimed at providing relief from various symptoms, including pain and inflammation. Developed in Auxly's Charlottetown lab, the product uses a unique formulation to enhance CBD absorption while moisturizing the skin. Available now in British Columbia and Saskatchewan, it will soon launch in Alberta. This product expands Auxly's portfolio in the cannabis 2.0 segment.