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Auxly Cannabis Group Inc
Symbol XLY
Shares Issued 581,236,696
Close 2018-10-17 C$ 1.32
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Post says Aphria, others hear praise from Tilray CEO

2018-10-18 09:20 ET - In the News

See In the News (C-APH) Aphria Inc

The Financial Post reports in its Thursday edition that the man who runs the third-largest cannabis company by market value is unfazed by minor supply-chain glitches that have cropped up ahead of legalization, saying he is "impressed" with how prepared the provinces are in getting cannabis out to consumers. The Post's Vanmala Subramaniam quotes Brendan Kennedy, chief executive officer of Tilray Inc., as saying: "This is the sixth time I've gone through this process of adult-use legalization. Most recreational cannabis markets are typically supply constrained at the onset, but ramp up quickly and reach an equilibrium within six to 12 months." Mr. Kennedy says he was in five U.S. states, including Colorado, Washington, Nevada and most recently California, when each one transitioned from a medical market to a recreational one. "What we saw in Nevada and in California on day one was a mess," he said. Nevada's process was particularly cumbersome, because weed sales began without any distributors licensed to transport cannabis from growers to retailers. Just 10 days after Nevada legalized cannabis last July, most dispensaries had run out of product. In California, municipalities were slow to issue retail licences to shops.

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