VANCOUVER, British Columbia, July 15, 2019 (GLOBE NEWSWIRE) -- Auxly Cannabis Group Inc. (TSX.V - XLY) ("Auxly" or the "Company") today announced the official opening of LAB001, the flagship retail location of its wholly- owned subsidiary, Kolab Project Inc. (“Kolab”). LAB001, located at #7, 3427 - 50 Avenue in Lloydminster, Saskatchewan, is open and operational as of July 11, 2019. In conjunction with the opening of the retail location, Kolab is now able to commence province-wide e-commerce sales in Saskatchewan.
The flagship retail location was designed in collaboration with Toronto-based studio IV. The space is designed to be not only a shoppable destination, but a transformative one; a storefront that doesn’t simply house branded items for purchase, but is in itself an extension of the brand and its ethos.
As one of Auxly’s cornerstone brands, Kolab is committed to supporting the arts, design and culture. Its mission is to provide Canadians with a carefully cultivated selection of exceptional cannabis products, while championing high quality, purposeful goods produced in collaboration with culturally-relevant creators.
“We are extremely pleased to be opening our first retail cannabis store and extending our vertically integrated business into Saskatchewan,” said Hugo Alves, President of Auxly. “I’m proud of our Auxly and Kolab teams, whose joint efforts enabled us to open and support the operation of our flagship retail location. We look forward to delivering a premium in-store experience and products to the Saskatchewan community.”
ON BEHALF OF THE BOARD
"Chuck Rifici" Chairman & CEO
About Auxly Cannabis Group Inc. (TSX.V: XLY) (OTCQX: CBWTF)
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.
Learn more at www.auxly.com and stay up to date at Twitter: @AuxlyGroup; Instagram: @auxlygroup; Facebook: @auxlygroup; LinkedIn: company/auxlygroup/.
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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 proposed operation of Kolab's retail store; the Company's ability to maintain the cannabis retail permit in Saskatchewan and to generate revenue from such cannabis retail permit; 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: Kolab is able to maintain the necessary governmental and regulatory authorizations and permits to conduct business; and general economic, financial market, regulatory and political conditions in which the Company and Kolab operate will remain the same. Additional risk factors are disclosed in the revised annual information form of the Company for the financial year ended December 31, 2017 dated May 24, 2018.
New factors emerge from time to time, and it is not possible for management to predict all of those factors or to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. 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 industry sources, the accuracy of which has not been verified by the Company. The purpose of forward-looking information is to provide the reader with a description of management's expectations, and such forward-looking information may not be appropriate for any other purpose. Readers should not place undue reliance on forward-looking information contained in this release.
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, the Company 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 TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.