Auxly Cannabis Group Inc (OTCMKTS:CBWTF) is another good example of strengthening international exposure and strategizing is becoming the “next big thing” among major players in the Canadian cannabis space. Auxly is the latest, making a move to expand into South America.
Specifically, the company just announced that, further to the binding interim agreement announced on January 30th, 2018, it has received approval for its acquisition of 80% of the issued and outstanding common shares of Inverell S.A, with that approval being issued by the government body overseeing foreign direct investments in Uruguay. According to the release, the SENACLAFT approval represents the final Uruguayan regulatory milestone required for the closing of the Transaction.
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.”
As we discussed earlier, CBWTF just announced that it has received approval for its acquisition of 80% of the issued and outstanding common shares of Inverell S.A, with that approval being issued by the government body overseeing foreign direct investments in Uruguay.
CBWTF has responded well, rallying about 22% over the past five days, with this news clearly driving the action. Over the past month, shares of the stock have suffered from clear selling pressure, dropping by roughly -10%.
Hugo Alves, President of Auxly commented: “I couldn’t be more excited to announce the closing of the Inverell transaction. Not only is Auxly acquiring an incredible project, but we are welcoming one of the world’s foremost experts in large scale outdoor cultivation and the extraction of high value molecules from plants into the Auxly family. I speak for myself and everyone at Auxly in saying that we are thrilled and honored to have Raul and the whole Inverell team as our friends and business partners. Inverell is a hugely important asset for Auxly and our strategic vision. Through Inverell, Auxly is perfectly poised to play a leading role in the global CBD economy and establish itself as a leading manufacturer of value-added cannabinoid-based products for domestic and international markets. Our ability to exercise strict QA/QC controls along every point of the supply chain from cultivation to extraction to product manufacturing, all within jurisdictions where cannabis is federally legal, ensures that we will be able to meet the quality assurance and supply chain demands of increasingly sophisticated and institutional purchasers. I love it when a plan starts to come together and the acquisition of Inverell is a big piece of our plans so today is a very exciting day for our company.”
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 $0).
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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