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Auxly Reports Fourth Quarter and Full Year 2019 Financial Results and Provides Outlook for 2020

Written by Customer Service on . Posted in Public Companies.

TORONTO, April 29, 2020 (GLOBE NEWSWIRE) — Auxly Cannabis Group Inc. (TSX.V – XLY) (OTCQX: CBWTF) (“Auxly” or the “Company“), a consumer packaged goods company in the cannabis products market, today released its fourth quarter and full year 2019 financial results. These filings and additional information regarding Auxly are available for review on SEDAR at www.sedar.com. All amounts are Canadian dollars except common shares (“Shares”) and per Share amounts.
2019 HighlightsSuccessfully launched Cannabis 2.0 products when first legally permitted in December 2019Secured strategic partnership with Imperial Brands PLC and financing of approximately $123 millionSecured $84 million in syndicated senior debt led by BMO to fund the approximately 1.1 million square foot Sunens projectEstablished product distribution channels which included securing listings with all provinces (except Quebec) for Cannabis 2.0 products and signed a brokerage agreement with Kindred to act as the Company’s sales agent for its recreational cannabis products in CanadaReceived required licence amendments allowing Dosecann and Kolab to legally sell derivative product formats as soon as they were legally permittedCompleted leadership transition with the appointment of Hugo Alves as the Company’s CEO, replacing Chuck Rifici, who continues to serve as Chairman of Auxly’s Board of Directors*Attributable to shareholders of the Company
**Adjusted EBITDA is a Non-IFRS financial measure.  Refer to the Non-IFRS Financial and Performance Measures section in the MD&A for definitionsHugo Alves, CEO of Auxly, commented: “This past year was pivotal for Auxly.  We secured a $123 million investment from Imperial Brands and were selected as Imperial’s exclusive strategic partner for all cannabis activities globally, an incredible validation of our focus on the Cannabis 2.0 market. But the biggest milestone for Auxly in 2019 was successfully achieving our goal of launching our incredible suite of branded cannabis products into the Cannabis 2.0 market on the first day that those products were legally permitted in Canada. The entire Auxly organization is very proud of achieving these milestones and we are excited for the next phase of our growth in 2020 and beyond. Whereas 2019 was a year of building infrastructure, know-how and capacity, 2020 will be Auxly’s first year of commercial operations. We will continue to focus on our vision of being a global leader in branded cannabis products and constantly strive to better understand and delight our consumers and deliver on our consumer promise of quality, safety and efficacy. There’s never been a more exciting time at Auxly!”Auxly’s BusinessAuxly is a consumer packaged goods company in the cannabis products market, dedicated to bringing safe, innovative, effective, and high-quality cannabis products to the medical, wellness and recreational markets. The Company has established an experienced team of professionals from multiple disciplines including clinical and scientific research, product development and fast-moving consumer goods. The company has partnered with industry leaders and is developing assets to create trusted products and brands in an expanding global market.Auxly’s vision is to be a global leader in branded cannabis products that deliver on its consumer promise of quality, safety and efficacy.Results of Operations

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