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. reports developments as a Canadian consumer packaged goods company in the cannabis products market, with securities quoted on the OTCQB under CBWTF and listed on the TSX under XLY. Company news commonly covers quarterly and annual financial results, branded cannabis sales, product innovation, and distribution across Canadian recreational cannabis channels.
Recurring updates focus on product categories such as dried flower, pre-rolls, vapes, oils, and Cannabis 2.0 products, along with brands including Back Forty, Backpackers, and South Point. Auxly also reports capital-allocation actions, balance-sheet changes, issuer bids, debt repayment, and selective strategic financing or transaction activity tied to its cannabis portfolio.
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.
Auxly Cannabis Group Inc. (OTCQX: CBWTF) reported a 79% increase in net revenues, totaling $83.8 million for 2021. The company maintained its leadership in Cannabis 2.0 product sales with a 15% market share. In Q4 alone, revenues rose to $29.3 million, up 20% quarter-over-quarter. Despite these gains, the net loss improved to $33.7 million, with an adjusted EBITDA loss of $21.7 million. Cash and equivalents decreased by 29% to $14.8 million. Looking forward, Auxly aims to enhance revenue and achieve positive adjusted EBITDA in 2022 with plans for 60 new product launches.
Auxly Cannabis Group Inc. (OTCQX: CBWTF) announced it will report its earnings results for the fourth quarter and full year ended December 31, 2021, on March 31, 2022, prior to market opening. A conference call will be held on the same day at 10:00 a.m. EST to discuss the results. Auxly is a leading Canadian cannabis company focused on innovative cannabis products for wellness and adult-use markets, supported by strong supply and R&D infrastructure.
Auxly Cannabis Group has closed its Robinsons cultivation facilities in Nova Scotia to streamline operations and cut costs. This strategic move aims to support the company's goal of becoming adjusted EBITDA positive by mid-2022. The closure will not impact cultivation or sales revenue, as resources will be redirected to the large-scale greenhouse facility in Leamington, Ontario, which offers significant capacity for high-quality cannabis production. The company plans to divest non-core assets to further bolster its operational efficiency and financial standing.
Auxly Cannabis Group Inc. (CBWTF) reported significant growth in its market presence, nearly doubling its overall market share and securing the #5 position among licensed producers in Canada by the end of 2021. The company leads the Cannabis 2.0 segment with a 15% share, driven by a dominant 23% market share in the vapour category. Auxly launched 52 SKUs and expanded its portfolio, acquiring a greenhouse facility to boost production capacity. CEO Hugo Alves highlighted the year as transformative, positioning the company for continued success in the cannabis market.