Auxly Cannabis Group Inc (OTCMKTS:CBWTF) has been a clear underperformer, and the question now is about whether or not the next step is a value-play for second-tier catch-up action. We like to let the market be a guide, but not a sacred text. The gospel of market efficiency is a flawed religion. That said, the jury is still out on Auxly.
To flesh matters out a bit further, the company just announced that the Company has entered into a binding interim agreement with Atlantic Cultivation Inc., an applicant under the Access to Cannabis for Medical Purposes Regulations pursuant to which the parties will collaborate on the development of a 110,000 square foot indoor cultivation facility in St. John’s, Newfoundland and Labrador and on the development of retail locations in the province.
Auxly Cannabis Group Inc (OTCMKTS:CBWTF) operates as a cannabis streaming company.
The next big cannabis story to hit North America is Phoenix Life Science International (PLSI), traded in the US, but with the largest global production based in the tropics and a license to distribute worldwide. Take a look at Phoenix Life Science International PLSI), Its currently trading under $18 dollars per share on the OTC markets. Learn More Now!
It provides funding for cannabis production; and holds contractual rights and minority equity interest relating to the operation of cannabis facilities. The company was formerly known as Cannabis Wheaton Income Corp. and changed its name to Auxly Cannabis Group Inc. in June 2018. Auxly Cannabis Group Inc. was incorporated in 1987 and is headquartered in Vancouver, Canada.
It provides funding for cannabis facility expansions, operations, and initial construction in exchange for minority equity interests and a portion of the cultivation production.
The company was formerly known as Knightswood Financial Corp. and changed its name to Cannabis Wheaton Income Corp. in May 2017. Cannabis Wheaton Income Corp. was incorporated in 1987 and is based in Vancouver, Canada, and became known as Auxly Cannabis Group Inc over recent months.
The company frames itself as 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.”
On Geese and Partners
We started off by noting that CBWTF just hit the wires with the announcement that the Company has entered into a binding interim agreement with Atlantic Cultivation Inc., an applicant under the Access to Cannabis for Medical Purposes Regulations pursuant to which the parties will collaborate on the development of a 110,000 square foot indoor cultivation facility in St. John’s, Newfoundland and Labrador and on the development of retail locations in the province.
The announcement helped to spark a relief rally in a context of recent action that hasn’t been particularly fun for CBWTF shareholders. Over the past week, shares of the stock have suffered from clear selling pressure, dropping by roughly -28% even with the push higher on the news.
Hugo Alves, President and Director of Auxly commented: “We are excited to have entered into this partnership with Atlantic Cultivation, a company led by an excellent management team with deep roots in Newfoundland and Labrador. This strategic partnership adds significant depth to our operations in Atlantic Canada. This partnership with Atlantic, coupled with our premium craft producer Robinson’s Cannabis in Nova Scotia and our world class innovation and extraction hub at Dosecann in PEI demonstrates Auxly’s commitment to Atlantic Canada where we are building meaningful cannabis businesses that have a positive impact on the region.”
Auxly Cannabis Group Inc (OTCMKTS:CBWTF) had no reported sales in its last quarterly financial data. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities – $295.8M against a goose-egg, to be exact.
Pushing the barriers for global distribution, Phoenix Life Science International (PLSI) is the next cannabis play. Just think Canopy x 100, that is how big their plantation in the tropics will be. No lights, no green houses, just maximum growth + minimal cost = home run. Learn More Now!
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