Auxly Cannabis Stock Price, News & Analysis

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.

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.