Welcome to our dedicated page for AUXLY CANNABIS GRP news (Ticker: CBWTF), a resource for investors and traders seeking the latest updates and insights on AUXLY CANNABIS GRP stock.
Auxly Cannabis Group Inc. (CBWTF) is a leading consumer packaged goods company in the cannabis products market. The company focuses on quality cannabis products that consumers trust and love. In 2023, Auxly achieved profitability targets and significant growth milestones, including profitability, net revenue of over $100 million, and positive cash flow. The company strengthened its balance sheet through partnerships and financial improvements, positioning itself for success in the evolving cannabis market. In Q1 2024, Auxly continued its growth trajectory with record sales, gross margins, and adjusted EBITDA. The company's commitment to innovation, product quality, and operational efficiency drives its sustainable growth and profitability goals. Auxly's recent expansion into the Quebec market and introduction of new products reflect its dedication to meeting consumer needs and market demands.
Auxly Cannabis Group Inc. has launched a new brand extension, Edi's, under its Foray brand, introducing Edi's Gumdrops. These premium gummy snacks feature familiar flavors like lemon, lime, cherry, and orange with a unique low-dose of 0.5mg THC per piece, aimed at enhancing the consumer experience. This marks a first in Canada, promoting controlled cannabis consumption through snackable options. Edi's Gumdrops will be available by late August, alongside other products like CBD Blood Orange and CBN Blackberry Lavender, responding to consumer demand for flexible dosing formats.
Auxly Cannabis Group has successfully completed the sale of its Annapolis indoor cultivation facility in Kentville, Nova Scotia, for $6 million. This facility ceased operations in February 2022 and the sale proceeds are intended to enhance Auxly's cash position, supporting ongoing operational needs. CEO Hugo Alves expressed satisfaction with the transaction, highlighting its non-dilutive benefits for the company. Auxly, a prominent player in the cannabis market, aims to leverage these funds to further its strategic objectives.
Auxly Cannabis Group Inc. (OTCQX: CBWTF) announced the results of its annual general meeting held on June 30, 2022. A total of 159,835,106 common shares, representing 17.85% of all shares, were voted. All proposals in the information circular dated May 20, 2022, were approved by shareholders. Elected directors included Genevieve Young (97.42% approval), Hugo Alves (97.45%), and Conrad Tate (98.07%). Additionally, Ernst & Young LLP was reappointed as auditors for the 2022 fiscal year. For detailed voting results, visit www.sedar.com.
Auxly Cannabis Group has amended and restated its unsecured convertible debentures, allowing for a principal amount of $8.75 million to remain until July 15, 2022. The agreement includes a 7.5% interest rate, a reduced conversion price of $0.1380, and the extension of maturity to August 15, 2024. The company has repaid $2.5 million of the original $11.25 million issued under the Standby Facility. An amendment fee of $500,000 was paid in shares, along with warrants for 20 million shares issued to the investor. The TSX has conditionally accepted the amendments.
Auxly Cannabis Group Inc. (OTCQX: CBWTF) has scheduled its Annual General Meeting of Shareholders for June 30, 2022, at 10:00 a.m. EST in Toronto. Due to limited seating, pre-registration via IR@auxly.com is required 48 hours in advance. Shareholders must provide proof of vaccination to attend. An audio teleconference will be available for remote participants, though voting cannot occur through this medium. Detailed voting instructions are provided in the Management Information Circular available on SEDAR.
Auxly Cannabis Group reported a 147% increase in net sales for Q1 2022, reaching $22.6 million compared to $9.2 million in Q1 2021. Adjusted EBITDA improved by 14% year-over-year. Despite these gains, the company posted a net loss of $39.8 million, largely attributed to a $25.7 million impairment related to the closure of its Annapolis facilities. Auxly remains a market leader in Cannabis 2.0 products with a 20% market share in that category. The company plans to enhance operational efficiencies and aims for positive adjusted EBITDA in 2022.
Auxly Cannabis Group Inc. (OTCQX: CBWTF) will report its Q1 2022 earnings on May 16, 2022, before markets open. The report will cover results for the quarter ending March 31, 2022. Following the earnings release, Auxly will host a conference call on the same day at 10:00 a.m. EST, providing investors an opportunity to discuss the results. A replay will be available on the company's website within 24 hours. Auxly remains a prominent player in the Canadian cannabis market, focusing on innovative and high-quality products.
Auxly Cannabis Group Inc. (OTCQX: CBWTF) reported a 79% increase in net revenues, totaling $83.8 million for 2021. The company maintained its leadership in Cannabis 2.0 product sales with a 15% market share. In Q4 alone, revenues rose to $29.3 million, up 20% quarter-over-quarter. Despite these gains, the net loss improved to $33.7 million, with an adjusted EBITDA loss of $21.7 million. Cash and equivalents decreased by 29% to $14.8 million. Looking forward, Auxly aims to enhance revenue and achieve positive adjusted EBITDA in 2022 with plans for 60 new product launches.
Auxly Cannabis Group Inc. (OTCQX: CBWTF) announced it will report its earnings results for the fourth quarter and full year ended December 31, 2021, on March 31, 2022, prior to market opening. A conference call will be held on the same day at 10:00 a.m. EST to discuss the results. Auxly is a leading Canadian cannabis company focused on innovative cannabis products for wellness and adult-use markets, supported by strong supply and R&D infrastructure.
Auxly Cannabis Group has closed its Robinsons cultivation facilities in Nova Scotia to streamline operations and cut costs. This strategic move aims to support the company's goal of becoming adjusted EBITDA positive by mid-2022. The closure will not impact cultivation or sales revenue, as resources will be redirected to the large-scale greenhouse facility in Leamington, Ontario, which offers significant capacity for high-quality cannabis production. The company plans to divest non-core assets to further bolster its operational efficiency and financial standing.
FAQ
What is the current stock price of AUXLY CANNABIS GRP (CBWTF)?
What is the market cap of AUXLY CANNABIS GRP (CBWTF)?
What is Auxly Cannabis Group Inc. focused on?
What milestones did Auxly achieve in 2023?
How did Auxly strengthen its balance sheet?
What were Auxly's key achievements in Q1 2024?
What market expansion did Auxly announce recently?
Where can shareholders find information on the Annual General Meeting of Shareholders?
