Auxly Cannabis Stock Price, News & Analysis

Auxly Cannabis Group reported a remarkable 508% surge in net revenues for 2020, totaling $50.8 million, with cannabis sales contributing $46.6 million. The company secured the top position in Canada for Cannabis 2.0 product sales, capturing approximately 14% market share. Despite achieving gross profits of $11.1 million, Auxly faced a net loss of $85.4 million, though this was an improvement from $102.6 million in 2019. The company is focused on enhancing cash flow and exploring international market strategies, despite challenges faced by its subsidiary, Sunens.

Auxly Cannabis Group Inc. (OTCQX: CBWTF) announces amendments to its $123 million debenture agreement with Imperial Brands, extending the maturity date by 24 months to September 25, 2024. The amendments maintain the 4% annual interest rate, due upon maturity, and allow Imperial Brands to convert unpaid interest into common shares at the volume-weighted average trading price. This initiative aims to improve Auxly's cash flow and strengthen its balance sheet, enhancing growth potential as it seeks minority shareholder approval for these changes at the upcoming shareholder meeting.

Auxly Cannabis Group has received final approval to graduate from the TSX Venture Exchange to the Toronto Stock Exchange (TSX) as of April 20, 2021. The company's common shares will continue to trade under the symbol XLY on the TSX, while shares will still be available on the OTCQX market under CBWTF. Trading on the TSXV will cease on April 19, 2021. This transition marks a significant milestone in Auxly's commitment to expanding its presence in the cannabis market and enhancing shareholder value without requiring further action from shareholders.

Auxly Cannabis Group (OTCQX: CBWTF) has received conditional approval to graduate from the TSX Venture Exchange to the Toronto Stock Exchange (TSX). CEO Hugo Alves stated this milestone follows a successful Cannabis 2.0 launch and aims to enhance their market profile, liquidity, and shareholder base. The final approval hinges on the fulfillment of standard conditions by Auxly, after which its shares will be delisted from the TSXV and trade on the TSX under the symbol XLY. The company will maintain its OTCQX listing as CBWTF.

Kolab Project has launched its 232 Series Diamonds, a new high-potency cannabis concentrate now available to provincial wholesalers. These concentrates, featuring Ice Cream Cake strain, are extracted from flash-frozen cannabis flower, yielding a vibrant yellow crystalline product with 900 mg of total THC per gram. The product comes in environmentally friendly packaging. This launch represents an exciting addition to Kolab Project's offerings, aiming to cater to cannabis connoisseurs.

Auxly Cannabis Group Inc. (OTCQX: CBWTF) announced today its strategic expansion into Canada’s dried-flower market, aiming to enhance its product offerings. This expansion involves:

• Launching new cultivars under Kolab Project Growers Series.
• Introducing strain-specific dried-flower products at competitive prices via the Back Forty brand.
• Increasing pre-roll capacity with custom automation.

Following a successful 2020, Auxly aims to leverage its strong market position and partnerships to boost its presence in Cannabis 1.0 products while maintaining a commitment to quality.

Auxly Cannabis Group (TSX.V - XLY, OTCQX: CBWTF) has responded to a request from IIROC regarding unusual trading activity. The Company confirms no awareness of any material undisclosed developments or changes at this time. This communication ensures investors are kept informed of any significant updates as required. Auxly focuses on delivering innovative cannabis products across various markets, supported by a strong operational and research framework.

Back Forty, a new cannabis brand from Auxly Cannabis Group (OTCQX: CBWTF), has launched with three high-potency vape strains: Super Lemon Haze, Forbidden Fruit, and Kush Mint. These vapes are available at retailers in British Columbia, Alberta, Ontario, and New Brunswick. Each cartridge contains 360 mg of THC and includes only cannabis distillate and botanical terpenes. Brand Director Brad Canario emphasizes the brand's commitment to quality, simplicity, and affordability, inviting cannabis consumers to embrace nature.

Auxly Cannabis Group Inc. announces significant changes as it seeks a path to profitability. Chuck Rifici resigns as Chair of the Board, replaced by Genevieve Young, while Vikram Bawa joins as an independent director, bringing extensive marketing experience. Michael Lickver has been appointed President, focusing on operational excellence and strategic growth. The company aims for positive adjusted EBITDA in H1 2021 and plans cost-saving measures, expecting $3 million quarterly savings in SG&A. Auxly holds a strong market share in Cannabis 2.0 products and aims to enhance revenue through new innovative offerings.