AUXLY ANNOUNCES RESULTS OF ANNUAL GENERAL AND SPECIAL MEETING OF SHAREHOLDERS

Rhea-AI Summary

Auxly Cannabis Group (TSX: XLY, OTCQB: CBWTF) announced the results of its annual general and special meeting of shareholders held on June 28, 2024. Over 407 million shares, representing 32.55% of the outstanding common shares, were voted. All proposals presented were approved, including the re-appointment of Ernst & Young LLP as auditors and the re-approval of the 2021 Equity Incentive Plan, which passed with 86.21% of the votes. Directors Genevieve Young, Hugo Alves, Troy Grant, Vikram Bawa, and Conrad Tate were re-elected. The Share Consolidation Resolution was removed from the agenda. Detailed voting results are available on SEDAR.

Positive

• All proposals put forward at the meeting were approved by the requisite majority.
• Ernst & Young LLP re-appointed as auditors, indicating continuity in financial oversight.
• Directors Genevieve Young, Hugo Alves, Troy Grant, Vikram Bawa, and Conrad Tate re-elected, ensuring stable governance.
• 2021 Equity Incentive Plan re-approved with 86.21% of the votes, reflecting strong shareholder support for the company's compensation strategy.

Negative

• Only 32.55% of the issued and outstanding common shares were voted, indicating potential shareholder disengagement.

TORONTO, July 2, 2024 /PRNewswire/ - Auxly Cannabis Group Inc. (TSX: XLY) (OTCQB: CBWTF) ("Auxly" or the "Company") announced today the voting results from its annual general and special meeting of shareholders held on June 28, 2024 (the "Meeting").

A total of 407,827,269 common shares of the Company, representing 32.55% of the issued and outstanding common shares of the Company, were voted in connection with the Meeting by shareholders and proxy holders.

All of the matters put forward before the Company's shareholders for consideration and approval, as set out in the Company's information circular dated May 23, 2024 (the "Circular"), were approved by the requisite majority of the votes cast at the Meeting. The results are set out below.

It was resolved, with the consent of the Board of Directors, to remove the Share Consolidation Resolution (as defined in the Circular) from the agenda of the Meeting.

Each of the directors listed as a nominee in the Circular was elected as a director of the Company at the Meeting. The detailed results of the vote for the election of directors held at the Meeting are set out below:

Name of Nominee	Votes cast FOR	% of votes cast FOR	Votes WITHHELD	% of votes WITHHELD
Genevieve Young	342,260,226	93.25 %	24,791,929	6.75 %
Hugo Alves	340,565,053	92.78 %	26,487,102	7.22 %
Troy Grant	344,254,507	93.79 %	22,797,648	6.21 %
Vikram Bawa	342,821,336	93.40 %	24,230,819	6.60 %
Conrad Tate	344,441,355	93.84 %	22,610,800	6.16 %

At the Meeting, Auxly shareholders approved the re-appointment of Ernst & Young LLP ("EY") as the Company's auditors for the 2024 fiscal year and authorized the board of directors to fix its remuneration.

The Re-Approval of the 2021 Equity Incentive Plan Resolution (as defined in the Circular) was approved by the majority 86.21% of the votes cast at the Meeting.

A report of voting results on all resolutions voted on at the Meeting will be available on SEDAR at www.sedar.com.

ON BEHALF OF THE BOARD

"Hugo Alves" CEO

About Auxly Cannabis Group Inc. (TSX: XLY)

Auxly is a leading Canadian consumer packaged goods company in the cannabis products market, headquartered in Toronto, Canada. Our mission is to help consumers live happier lives through quality cannabis products that they trust and love.

Our vision is to be a global leader quality cannabis products.

Learn more at www.auxly.com and stay up to date at Twitter: @AuxlyGroup; Instagram: @auxlygroup; Facebook: @auxlygroup; LinkedIn: company/auxlygroup/.

Neither Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.

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SOURCE Auxly Cannabis Group Inc.

FAQ

What were the results of the Auxly Cannabis Group's annual general and special meeting held on June 28, 2024?

All proposals were approved, Ernst & Young LLP was re-appointed as auditors, and the 2021 Equity Incentive Plan was re-approved. Directors Genevieve Young, Hugo Alves, Troy Grant, Vikram Bawa, and Conrad Tate were re-elected.

How many shares were voted at the Auxly Cannabis Group meeting on June 28, 2024?

A total of 407,827,269 common shares, representing 32.55% of the issued and outstanding common shares, were voted.

Was the Share Consolidation Resolution approved at the Auxly Cannabis Group meeting in June 2024?

No, the Share Consolidation Resolution was removed from the meeting's agenda.

Which auditors were re-appointed at the Auxly Cannabis Group meeting on June 28, 2024?

Ernst & Young LLP was re-appointed as auditors for the 2024 fiscal year.

What percentage of votes supported the re-approval of the 2021 Equity Incentive Plan at the Auxly Cannabis Group meeting?

The 2021 Equity Incentive Plan was re-approved with 86.21% of the votes.

Who were the directors re-elected at the Auxly Cannabis Group meeting held on June 28, 2024?

Genevieve Young, Hugo Alves, Troy Grant, Vikram Bawa, and Conrad Tate were re-elected as directors.