AUXLY CANNABIS GRP INC - CBWTF STOCK NEWS

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.

Auxly Cannabis Group Inc. (OTCQX: CBWTF) announced its Annual General and Special Meeting of Shareholders on June 28, 2021, at 2:00 p.m. EST. To limit COVID-19 risks, physical attendance is discouraged. Only registered shareholders and appointed proxyholders can attend, requiring 48 hours' advance notice. The meeting will feature an audio teleconference, but voting will not be allowed via this method. Shareholders are encouraged to vote in advance. Questions can be submitted beforehand for potential responses during the call.

Auxly Cannabis Group Inc. (OTCQX: CBWTF) reported Q1 2021 financial results with net revenues of $10 million, a 1% increase from Q1 2020. The company maintained a strong market presence in Cannabis 2.0 products, holding 12.6% market share. SG&A expenses decreased by 5%, contributing to a reduced net loss of $10.5 million, down from $13.2 million in the previous year. Despite facing challenges from COVID-19 and inventory management changes, retail sales showed resilience. The company raised $8 million through a private placement to strengthen its balance sheet.

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.