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Auxly Cannabis Group Inc
Symbol XLY
Shares Issued 691,861,024
Close 2021-02-17 C$ 0.38
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Auxly Cannabis to expand into dried-flower market

2021-02-18 10:09 ET - News Release

Mr. Huge Alves reports

AUXLY ANNOUNCES STRATEGIC EXPANSION INTO CANNABIS 1.0

Auxly Cannabis Group Inc. has revealed its strategic expansion into Canada's largest cannabis segment, the dried-flower market. Auxly's expansion into cannabis 1.0 consists of a three-pronged strategy:

  1. Expanding its flower offering under the Kolab Project growers series through the launch of new cultivars with existing partners and securing new partnerships with top-tier cultivators;
  2. Launching a strain-specific dried-flower offering of unique genetics at a compelling price point under Auxly's Back Forty brand; and
  3. Significantly boosting its preroll capacity through custom-built automation and launching disruptive preroll products under its Kolab Project and Back Forty brands.

Today's announcement comes on the heels of a breakout 2020 for Auxly. Among other corporate highlights, the company secured the No. 1 market share position in Canada for cannabis 2.0 products and launched its first entries into the flower market with Robinsons premium craft dried flower and its industry-first Kolab Project growers series, which included new consumer-favourite strains, Kalifornia and Ice Cream Cake.

"We're proud to have achieved our objective of leading cannabis 2.0, which remains key to our business strategy," said Hugo Alves, chief executive officer, Auxly. "Our 2.0 product offerings under our Kolab Project and Back Forty brands have been a huge hit with consumers, who routinely point to the quality and consistency of our products as the reasons why they choose our brands over others. We believe that there is a fantastic opportunity to stretch our branded product offering into 1.0 product formats and bring that same quality and consistency that consumers love to our dried-flower and preroll products."

Auxly's expanded 1.0 offering includes the introduction of new strains for the Kolab Project growers series, which shines a spotlight on craft cannabis growers in an effort to provide transparency for consumers into the source of their premium cannabis and to give credit where it's due. Auxly's partners for the growers series are top-tier cultivators who benefit from Auxly's capacity to bring new and in-demand strains quickly to consumers across Canada, leveraging the Kolab Project brand, which is synonymous with high quality for cannabis enthusiasts. In coming weeks, Auxly will expand its partnership with Safari Cannabis Co. for new strains, including the coming launch of Slurricane, and the company expects to welcome other new craft cultivation partnerships to the growers series soon.

Auxly is also introducing Back Forty Pine Kush -- Back Forty's inaugural dried-flower offering. Back Forty's current product offering of high-potency vapes has resonated with savvy consumers looking for high quality at affordable prices. Back Forty Pine Kush adheres to that brand promise, delivering high THC potency for this new strain to the Canadian market, which will be available nationally in both 3.5-gram and 28-gram units in coming weeks. Auxly anticipates that future Back Forty offerings will also include exciting new strains from the company's joint-venture cultivation partner Sunens Farms.

The third leg of Auxly's expanded dried-flower strategy consists of game-changing preroll product innovation alongside improvements to the company's preroll manufacturing capacity. More information about updates to Auxly's preroll processing will be unveiled in the coming months.

Auxly's success to date is the culmination of its commitment to quality, safety and efficacy, which is what Canadian consumers have come to know and expect from Auxly products. As the company continues to bolster its expansion efforts into cannabis 1.0, maintaining this commitment remains its top priority.

About Auxly Cannabis Group Inc.

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

We seek Safe Harbor.

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