Auxly Announces Results of Annual General and Special Meeting of Shareholders

Rhea-AI Summary

Auxly Cannabis Group (OTCQX: CBWTF) announced the results of its annual general and special meeting held on June 28, 2021, where 132,758,409 common shares (17.62% of total shares) were voted. All resolutions, including the election of directors and the approval of Ernst & Young as auditors, received requisite majority support. Notably, the Imperial Amendment Resolution garnered 99.26% approval, excluding votes from Imperial Brands. The company continues to focus on delivering high-quality cannabis products in the wellness and adult-use markets.

Positive

• 132,758,409 common shares voted, showing shareholder engagement.
• All proposed resolutions were approved, indicating strong support from shareholders.
• Ernst & Young re-appointed as auditors, ensuring financial oversight.
• Imperial Amendment Resolution received 99.26% approval, reinforcing corporate governance.

Negative

• None.

TORONTO, June 29, 2021 (GLOBE NEWSWIRE) -- Auxly Cannabis Group Inc. (TSX- XLY) (OTCQX: CBWTF) ("Auxly" or the "Company") announced today the voting results from its annual general and special meeting of shareholders held on June 28, 2021 (the “Meeting”).

A total of 132,758,409 common shares of the Company, representing 17.62% 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 20, 2021 (the “Circular”), were approved by the requisite majority of the votes cast at the Meeting. The results are set out below.

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
Hugo Alves	120,080,514	90.45%	12,677,125	9.55%
Genevieve Young	131,461,957	99.02%	1,295,682	0.98%
Troy Grant	122,648,361	92.39%	10,109,278	7.61%
Conrad Tate	131,563,772	99.10%	1,190,867	0.90%
Vikram Bawa	131,324,741	98.92%	1,432,898	1.08%

At the Meeting, Auxly shareholders approved the re-appointment of Ernst & Young LLP (“EY”) as the Company’s auditors for the 2021 fiscal year and authorized the board of directors to fix its remuneration.

In addition, in accordance with Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions, the Imperial Amendment Resolution (as defined in the Circular), was approved by 99.26%% of the votes cast at the Meeting, excluding the common shares of the Company beneficially owned or controlled, directly or indirectly, by Imperial Brands and its affiliates. The Company’s shareholders also approved the adoption of the Amended and Restated Omnibus Plan of the Company (as defined in the Circular).

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 cannabis company dedicated to bringing innovative, effective, and high-quality cannabis products to the wellness and adult-use markets. Auxly's experienced team of industry first-movers and enterprising visionaries have secured a diversified supply of raw cannabis, strong clinical, scientific and operating capabilities and leading research and development infrastructure in order to create trusted products and brands in an expanding global market.

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

Investor Relations:

For investor enquiries please contact our Investor Relations Team: 
Email: IR@auxly.com
Phone: 1.833.695.2414

Media Enquiries (only): 

For media enquiries or to set up an interview please contact:
Email: press@auxly.com

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.

FAQ

What were the results of Auxly Cannabis Group's shareholder meeting on June 28, 2021?

During the meeting, 132,758,409 common shares were voted, with all resolutions approved by the requisite majority.

What was the voter turnout at Auxly's annual general meeting?

A total of 132,758,409 common shares, representing 17.62% of issued shares, were voted.

Who was re-appointed as auditors for Auxly Cannabis Group?

Ernst & Young LLP was re-appointed as auditors for the 2021 fiscal year.

What is the significance of the Imperial Amendment Resolution approval?

The Imperial Amendment Resolution was approved by 99.26% of votes cast, reinforcing corporate governance measures.

What does the annual meeting indicate about Auxly's shareholder support?

The successful approval of all resolutions reflects strong support from shareholders for the company's direction.