The agreement covers Auxly’s exclusive sales agent for its adult-use cannabis products in Canada.
VANCOUVER, British Columbia, Sept. 18, 2019 (GLOBE NEWSWIRE) — Auxly Cannabis Group Inc. (TSX.V – XLY) (“Auxly“) and Kindred Partners Inc. (“Kindred”) are pleased to announce that they have entered into a brokerage agreement pursuant to which Kindred will act as Auxly’s exclusive sales agent for its adult-use cannabis products in Canada.
Kindred, a wholly-owned subsidiary of Breakthru Beverage Group, is a Toronto-based specialty cannabis brokerage serving the adult-use market. Kindred leverages the deep experience of its sister-company, Breakthru Beverage Canada, in working with Canadian Provincial control boards, licensed distributors and retailers to broker regulated cannabis products for the adult-use market. Kindred will provide its brokerage services to Auxly and use its national presence to market the company’s portfolio of brands nationwide.
Auxly is well positioned to be a leader in the Canadian cannabis market, as consumers across the country will have access to Auxly’s innovative cannabis products under its four in-house brands – Dosecann, Kolab, Robinsons and Foray.
“We are excited to work with the innovative team at Auxly to help them execute on their route-to-market and retail sales strategy,” said Dave Prodanovic, VP and General Manager, Kindred. “Kindred has an experienced, best-in-class sales team, supported by scaled services and technology, to help Auxly grow their brands and attract customers and consumers across Canada.”
“Having Kindred as our sales and brokerage partner is a fantastic complement to the strong relationships that we continue to build with the provincial boards and accelerates our vision of becoming a leader in the derivative cannabis product market,” said Jeff O’Neill, Head of Commercial at Auxly. “Auxly is committed to being a consumer-focused organization and we look forward to working with Kindred to introduce Canadians to our portfolio of high-quality cannabis products and gaining consumer trust for our brands. We believe that with Kindred’s proven track record and our incredible portfolio of branded cannabis products, we are well positioned to lead this next wave of the cannabis industry.”
ON BEHALF OF THE BOARD
“Chuck Rifici“ Chairman
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/.
About Kindred Partners Inc.
Kindred Partners Inc. is a wholly-owned Canadian subsidiary of Breakthru Beverage Group representing cannabis products to the Canadian recreational market. This dedicated cannabis sales brokerage business operates independently from its sister company, Breakthru Beverage Canada, a leading Canadian beverage alcohol broker. For more information, please visit www.kindredcanada.ca.
Auxly Investor Relations and Media Enquiries:
For investor enquiries please contact our Investor Relations Team:
Phone: 1.833.695.2414For media enquiries or to set up an interview please contact:
Sarah Bain, VP External Affairs
Kindred Media Enquiries:
For further information or to arrange an interview, please contact:
Robb Kristopher, Breakthru Beverage Group
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 and commercialization strategy; consumer preferences; political change, future legislative and regulatory developments involving cannabis and cannabis products; and competition and other risks affecting Auxly 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: Auxly is able to obtain and maintain the necessary governmental and regulatory authorizations to conduct business; and general economic, financial market, regulatory and political conditions in which Auxly operates 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.