Auxly Ends Third Quarter 2021 as #6 Licensed Producer in Canada with 6.4% Total National Market Shareⁱ
18 Oktober 2021 - 01:30PM
Auxly Cannabis Group Inc. (TSX - XLY) (“
Auxly” or
the “
Company”), a leading consumer packaged goods
company in the cannabis products market, is pleased to announce
that the Company has moved to the #6 LP 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 pre-rolls and differentiated
dried flower offerings, Auxly secured 5.7% share of the total
cannabis market in Q3 2021, up from 4.9% in Q2 2021, ending the
quarter with 6.4% share of market in September.
“Auxly continues to make strides towards
reaching its goal of achieving 7-9% 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, CEO 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 #1 LP position in Canada for Cannabis 2.0 product sales with
15.6% market share in Q3 2021. Powered by a 24.7% share of the
vapour market – the largest of any Canadian LP by a significant
marginii – 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.
Source: Hifyre and Cowen and
Company
As Auxly enters the fourth quarter of the year,
the Company looks forward to achieving its 7-9% share of market
goal and achieving adjusted EBITDA positive by the end of the
year.
ON BEHALF OF THE BOARD
"Hugo Alves” CEO
About Auxly Cannabis Group Inc. (TSX:
XLY) (OTCQX: CBWTF)
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 have 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.
Learn more at www.auxly.com and stay up to date
at Twitter: @AuxlyGroup; Instagram:
@auxlygroup; Facebook: @auxlygroup; LinkedIn:
company/auxlygroup/.
Investor Relations:
For investor enquiries please contact our
Investor Relations Team: Email: IR@auxly.comPhone:
1.833.695.2414
Media Enquiries
(only):
For media enquiries or to set up an interview
please contact:Email: press@auxly.com
Notice Regarding Forward Looking
Information:
This news release contains certain
"forward-looking information" within the meaning of applicable
Canadian securities law. Forward-looking information is frequently
characterized by words such as "plan", "continue", "expect",
"project", "intend", "believe", "anticipate", "estimate", "may",
"will", "potential", "proposed" and other similar words, or
information that certain events or conditions "may" or "will"
occur. This information is only a prediction. Various assumptions
were used in drawing the conclusions or making the projections
contained in the forward-looking information throughout this news
release. Forward looking information includes, but is not limited
to: the Company’s execution of its product development,
commercialization strategy and expansion plans; the ability of the
Company to maintain and grow its market share; the relevance of the
Company’s current and proposed products; consumer preferences;
political change, future legislative and regulatory developments
involving cannabis and cannabis products; and competition and other
risks affecting the Company in particular and the cannabis industry
generally.
A number of factors could cause actual results
to differ materially from a conclusion, forecast or projection
contained in the forward-looking information in this release
including, but not limited to whether: there is acceptance and
demand for current and future Company products by consumers and
provincial purchasers; and general economic, financial market,
regulatory and political conditions in which Auxly operates will
remain the same. The forward-looking information in this release is
based on information currently available and what management
believes are reasonable assumptions. Forward-looking information
speaks only to such assumptions as of the date of this release. In
addition, this release may contain forward-looking information
attributed to third party sources, the accuracy of which has not
been verified by Auxly. The forward-looking information contained
in this release is expressly qualified by the foregoing cautionary
statements and is made as of the date of this release. Except as
may be required by applicable securities laws, Auxly does not
undertake any obligation to publicly update or revise any
forward-looking information to reflect events or circumstances
after the date of this release or to reflect the occurrence of
unanticipated events, whether as a result of new information,
future events or results, or otherwise.
Neither Toronto Stock Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the Toronto Stock Exchange) accepts responsibility for
the adequacy or accuracy of this release.
i Headset Canadian Insights, July 2021 – September 2021ii
Headset Canadian Insights, Vape Sales from July 2021 – Sept
2021
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