Auxly
Announces Receipt of Dealer’s Licence for Dosecann
Facility
Vancouver, BC -- August 09, 2018 -- InvestorsHub NewsWire --
Auxly Cannabis Group Inc.(TSX.V:XLY) ("Auxly" or the "Company") is
pleased to announce that the Company's wholly-owned subsidiary,
Dosecann Inc. ("Dosecann"), has successfully obtained a Dealer's
Licence for Controlled Drugs and Substances (the "Licence") from
Health Canada pursuant to the Narcotics Control
Regulations for Dosecann's purpose built 42,000 square
foot facility located in Charlottetown, PEI.
The Licence allows Dosecann to serve as a central mid-stream hub
to Auxly and its subsidiaries and partners in the development and
manufacturing of value-added cannabis products. The Licence
authorizes Dosecann to engage in various activities related to
manufacturing of cannabis oils and resins through extraction of
dried cannabis flower, production of authorized cannabis products,
product formulation, research and development and quality testing.
In addition, the Licence permits the import of input materials and
the export of finished cannabis products to international markets
for medical and scientific purposes.
Greg Boone, Chief Executive Officer of Dosecann commented:
"Receiving our Dealer's Licence represents the culmination of
years' worth of hard work at the facility to get it prepared for
this day and we could not be more excited to see it all coming
together. I would like to thank all members of the Dosecann and
Auxly teams for their continual efforts and for their commitment to
building this world class facility that will act as a key asset
within the overall Auxly business strategy."
Hugo Alves, President and Director of Auxly commented: "Dosecann
is the cornerstone asset in our midstream (value-add) business
segment and we are thrilled to have received a Dealer's Licence
from Health Canada. We look forward to working closely with Greg
and his team as we position Dosecann, and subsequently, Auxly, as a
leading producer of value added cannabis products in Canada and
beyond."
ON BEHALF OF THE BOARD
"Chuck Rifici" Chairman &
CEO
About Auxly Cannabis Group Inc.(TSX.V:XLY)
Auxly Cannabis Group is a collective of entrepreneurs with a
passion for the cannabis industry past, present and future. Our
mandate is to facilitate growth for our partners by providing them
with financial support and sharing our collective industry
experience. Our partners all have different visions, voices
and brand values, and all share a common goal—to build a
world-class industry based on ethics, diversity, quality and
innovation.
About Dosecann
Dosecann is a Canadian Licensed Dealer dedicated to developing
cannabis solutions for the cannabis industry. Located in
Charlottetown, PEI, Dosecann's purpose-built, 42,000 square foot
facility will be the hub for cannabis extraction, quality testing,
research and development, product formulation and
manufacturing.
Investor Relations:
For more information about investing in Auxly Cannabis Group,
please visit: http://www.auxly.com or contact our Investor Relations
Team:
Email: IR@auxly.com
Phone: 1.833.695.2414
Stay Connected:
Follow up on Twitter @Auxlygroup
Media Enquiries (only):
For media enquiries or to set up an interview please contact:
Sarah Bain, VP External Affairs
Email: sarah@auxly.com
Phone: 613.230.5869
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 Dosecann's facility, political change, future
legislative and regulatory developments involving cannabis;
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: Dosecann is able to maintain a Dealer's
Licence; the Company is able to successfully manage the integration
of Dosecann's operations with its own; Dosecann can obtain all
necessary governmental and regulatory permits and approvals for the
operation of the facility, and whether such permits and approvals
can be obtained in a timely manner; and general economic, financial
market, legislative, regulatory, competitive and political
conditions in which the Company and Dosecann 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.
Source: Auxly Cannabis Group Inc.
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