TORONTO, April 15, 2020 (GLOBE NEWSWIRE) -- Auxly Cannabis Group Inc. (TSX.V - XLY) ("Auxly" or the “Company”), a leading consumer packaged goods company in the derivative cannabis market, is pleased to announce that its wholly-owned subsidiary Dosecann LD Inc. (“Dosecann”) has entered into an agreement with Medical Cannabis by Shoppers Drug Mart Inc. (“Shoppers”), a subsidiary of Shoppers Drug Mart Inc., to become a supplier of cannabis products through its online platform. The agreement will see Auxly’s suite of products and brands, including chewables, chocolates, vapes and oil in a bottle, all developed and manufactured at Dosecann, available to consumers across Canada. Dosecann has completed its initial shipment of cannabis products to Shoppers.
“Having our diverse cannabis product offering with Shoppers allows us to reach a wide group of patients across the country with our quality, science-backed products,” said Hugo Alves, CEO of Auxly. “We are proud to partner with Shoppers and look forward to bringing their customers our products, built on Dosecann’s pillars of quality, safety and efficacy.”
Greg Boone, CEO of Dosecann, added: “Our team at Dosecann prides itself on manufacturing products backed by science and advanced research and development to ensure that consumers get the high-quality cannabis products that they need. We think this achievement is a testament to the extraordinary team that we’ve assembled and the rigor and precision that we apply to product development and manufacturing.”
The agreement is for a three-year term, subject to renewal for an additional two years.
ON BEHALF OF THE BOARD
"Hugo Alves" CEO
About Dosecann LD Inc.
Dosecann, a wholly-owned subsidiary of Auxly, is a Canadian developer and manufacturer of innovative cannabis products for the wellness-focused consumer. Dosecann is committed to providing Canadians with quality products designed for everyday use, backed by science and advanced research. Dosecann’s 52,000 square foot, GMP-compliant facility located in Charlottetown, Prince Edward Island, houses extraction, research and development, product formulation, analytical testing and commercial manufacturing for Auxly’s branded cannabis products. Built on the pillars of quality, safety and efficacy, Dosecann is cannabis – down to a science™.
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 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.com
Phone: 1.833.695.2414
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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: Auxly's execution of its product development and commercialization strategy, consumer preferences, political change, future legislative and regulatory developments involving cannabis and cannabis products; and competition and other risks affecting Auxly and Dosecann 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: Dosecann is able to maintain its current licences and obtain and maintain all other necessary governmental and regulatory authorizations and permits to conduct business, the acceptance and demand for future Dosecann products by consumers, and general economic, financial market, regulatory and political conditions in which Auxly and Dosecann operate will remain the same. Additional risk factors are disclosed in the revised annual information form of Auxly 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 Auxly’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 Auxly. 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, 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 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.