News Release

Auxly Reports Q1 2022 Financial Results

 TORONTO, Ontario, May 16, 2022 – Auxly Cannabis Group Inc. (TSX – XLY) (OTCQX: CBWTF) (“Auxly” or the “Company“) today released its financial results for the three months ended March 31, 2022. These filings and additional information regarding Auxly are available for review on SEDAR at www.sedar.com. 

Q1 2022 Highlights

 —  147% increase in net sales compared to Q1 in 2021 – recorded net revenues of $22.6M for the three months ended March 31, 2022; 

 —  SG&A of $12.8M in Q1 2022 decreased slightly quarter-over-quarter with the full quarter consolidation of Auxly Leamington; 

 —  Adjusted EBITDA improved year-over-year by approximately 14%; 

 —  Continue to hold the #1 LP position in Cannabis 2.0 sales nationally; 

 —  Back Forty remains the #1 vape brand in the country and became the #4 flower brand nationally in the quarter; 

 —  Maintained its position as one of the top 5 LPs in Canada in total cannabis sales with 6.9% market share; 

 —  With growing competition in vapes, the largest 2.0 product category, Auxly continued to hold the #1 LP position in national sales with 20% market share; 

 —  Successfully launched 10 new SKUs into the market in the quarter, including solventless live rosin vapes, new infused pre-roll strains and the first-to-market Live Rosin Chew all under Kolab Project brand; 

 —  Recorded non-cash impairment of approximately $25.7M related to the closure of Auxly Annapolis and Auxly Annapolis OG cultivation facilities. 

Read full release on GlobeNewswire here.

Auxly Financials and Filings.

AUXLY TO REPORT FIRST QUARTER 2022 FINANCIAL RESULTS ON MAY 16, 2022

TORONTO, May 10, 2022 /CNW/ – Auxly Cannabis Group Inc. (TSX: XLY) (OTCQX: CBWTF) (“Auxly” or the “Company“), a leading consumer packaged goods company in the cannabis products market, announced today that it will report earnings results for its first quarter 2022 ended March 31, 2022, on Monday May 16, 2022, before the financial markets open.

The Company will host a conference call to discuss the results. The teleconference details are listed below:

Date: Monday May 16, 2022

Time: 10:00 a.m. EST.  Please dial in at least 10 minutes prior to the start time.

North American Toll Free: 1-888-664-6383

Audio Webcast URL:
https://produceredition.webcasts.com/starthere.jsp?ei=1547591&tp_key=a22d69f22f

A replay of the teleconference will be available within 24 hours after the conclusion of the call on the Company’s website.

ON BEHALF OF THE BOARD

“Hugo Alves” CEOAbout Auxly Cannabis Group Inc. (TSX: XLY)

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/.

SOURCE Auxly Cannabis Group Inc.

For further information: Investor Relations: For investor enquiries please contact our Investor Relations Team: Email: IR@35.183.62.152, Phone: 1.833.695.2414; Media Enquiries (only): For media enquiries or to set up an interview please contact: Email: press@35.183.62.152