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 acquired 100% ownership of Sunens Farms Inc. for $1.6 million, enhancing its operational capabilities in the cannabis market. The acquisition allows Auxly to utilize Sunens' cultivation for its products, including top-selling strains. It will improve gross margins and reduce reliance on wholesale purchases. In addition, Auxly has amended its credit facility with BMO, increasing the principal to $62.5 million and extending the maturity date to September 2023. This strategic move is expected to support growth and profitability in the cannabis sector.
Auxly Cannabis Group (OTCQX: CBWTF) reported Q3 2021 revenues of $24.5 million, a 95% year-over-year increase and a 17% sequential rise. Despite improved revenues, Adjusted EBITDA remained negative at $6.5 million. The company maintained its position as the #1 licensed producer in Cannabis 2.0 sales with a 15.6% market share and moved to the #5 position in total national recreational sales with 7.3% share. Net losses for the quarter were $13.5 million or $0.02 per share, which is an improvement over the previous year. The company aims to achieve positive Adjusted EBITDA by year-end 2021.
Auxly Cannabis Group has achieved a significant market milestone by becoming the #5 Canadian Licensed Producer (LP) with a 7.3% national market share. This success is credited to their innovative portfolio and leadership in the cannabis 2.0 segment, where they hold the #1 position in vapes. The company has launched a new fall product lineup, featuring seasonal flavors and formulations across its brands, including Back Forty, Kolab Project, and Foray. These offerings aim to enhance consumer experience and drive further growth in the competitive cannabis market.
Auxly Cannabis Group has appointed Murray McGowan, Chief Strategy and Development Officer at Imperial Brands, to its Board of Directors effective November 1, 2021. McGowan replaces Conrad Tate, who remains on the Board as an independent director. This leadership change comes as Auxly continues its growth in the Canadian cannabis market. Genevieve Young, Chair of the Board, emphasized McGowan's strategic expertise as a valuable asset during this expansion phase. The Board will now consist of six directors, including McGowan on the Audit Committee.
Auxly Cannabis Group Inc. (OTCQX: CBWTF) announced it will report its third quarter 2021 earnings results on November 15, 2021, before the market opens. The company will host a conference call at 10:00 a.m. EST to discuss the results. Auxly focuses on innovative cannabis products for the wellness and adult-use markets, backed by a robust supply chain and R&D capabilities. The earnings report and call are expected to provide insights into the company's financial performance and strategic direction, crucial for shareholders and investors.
Auxly Cannabis Group has solidified its position as the #6 licensed producer in Canada for cannabis sales as of Q3 2021, achieving a 5.7% market share, up from 4.9% in Q2. The company leads in Cannabis 2.0 product sales with a 15.6% market share, notably holding 24.7% of the vapour market. Auxly plans to reach 7-9% market share by year-end and aims for positive adjusted EBITDA. The growth is attributed to innovative product launches and focused consumer connections, ensuring continuous expansion in the competitive landscape.
Auxly Cannabis Group (OTCQX: CBWTF) reported Q2 2021 net revenues of $20.9 million, more than double from Q2 2020. This growth is attributed to a 204% increase in cannabis sales, largely from Cannabis 2.0 products, improving market share to 4.9%. Adjusted EBITDA improved to negative $3.3 million, a 68% enhancement year-over-year. The net income attributable to shareholders reached $8.7 million. The company aims for positive adjusted EBITDA by year-end and continues to focus on expanding product offerings in the cannabis market.
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.