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Auxly Cannabis Group Inc
Symbol XLY
Shares Issued 836,607,134
Close 2021-10-15 C$ 0.213
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Auxly Cannabis talks up Q3 market share

2021-10-18 10:34 ET - News Release

Mr. Hugo Alves reports


Auxly Cannabis Group Inc. has moved to the No. 6 licensed producer position in Canada for total cannabis sales as of the end of Q3 2021 after continuing to win with Canadian consumers and gaining market share through its expanded, high-quality and innovative portfolio of branded cannabis products.

After the successful launch of new product offerings during the third quarter of 2021, such as the introduction of the Back Forty 40s prerolls and differentiated dried flower offerings, Auxly secured 5.7-per-cent share of the total cannabis market in Q3 2021, up from 4.9 per cent in Q2 2021, ending the quarter with 6.4-per-cent share of market in September.

"Auxly continues to make strides towards reaching its goal of achieving 7-to-9-per-cent share of market in Canadian recreational cannabis sales by the end of the year through expanded sales growth opportunities founded in consumer insights, innovation and executional excellence," said Hugo Alves, chief executive officer of Auxly. "As planned capabilities have come on-line, our product line-up has grown to include cannabis 1.0 products, but our focus remains the same: to put our consumers first and consistently deliver unique, exciting products under brands that they can trust and love."

In addition to overall growth and expanded presence in the dried flower segment, Auxly also continues to hold the No. 1 LP position in Canada for cannabis 2.0 product sales with 15.6-per-cent market share in Q3 2021. Powered by a 24.7-per-cent share of the vapour market -- the largest of any Canadian LP by a significant margin -- the company's organic growth in each of the cannabis 2.0 categories it participates in is a testament to the quality and efficacy of its product suite that Canadian consumers have come to rely on.

As the Canadian cannabis market continues to become more competitive, Auxly is outperforming many of its peers in generating sales and share of market growth by remaining focused on executing its targeted expansion into new product categories and building deeper connections with consumers through its popular brands: Kolab Project, Back Forty, Foray and Dosecann.

As Auxly enters the fourth quarter of the year, the company looks forward to achieving its 7-to-9-per-cent share of market goal and achieving adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) positive by the end of the year.

About Auxly Cannabis Group Inc.

Auxly is a leading Canadian cannabis company dedicated to bringing innovative, effective and high-quality cannabis products to the 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 research and development infrastructure in order to create trusted products and brands in an expanding global market.

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