Auxly Cannabis Group Inc. CBWTF XLY, a leading consumer packaged goods company in the cannabis products market, has closed the sale of its Auxly Annapolis Inc. indoor cultivation facility located in Kentville, Nova Scotia to a private purchaser for total proceeds to the company of $6 million. As previously announced by the company, Auxly ceased operations at the cultivation facility in February 2022. The company intends to apply the proceeds from the sale to support Auxly's ongoing operations.
"We are pleased with the sale of our Annapolis indoor facility," stated Hugo Alves, Chief Executive Officer of Auxly Cannabis Group Inc. "Being able to monetize this non-core asset to strengthen our cash position in a non-dilutive way is fantastic for the company and provides us with additional capital to support Auxly's strategic objectives."
About Auxly Cannabis Group
Auxly is a leading Canadian consumer packaged goods company in the cannabis products market, headquartered in Toronto, Canada. The company's focus is on developing, manufacturing and distributing branded cannabis products that delight wellness and recreational consumers and deliver on its consumer promise of quality, safety and efficacy.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
Rate collection and criteria: Click here for more information on rate collection and criteria.