CAN: Auxly receives $6 million for sale of Annapolis facility

Auxly Cannabis Group Inc. has closed the sale of its Auxly Annapolis Inc. indoor cultivation facility located in Kentville, Nova Scotia, to a private purchaser for total proceeds to the Company of $6 million. As previously announced by the Company, Auxly ceased operations at the cultivation facility in February 2022. The Company intends to apply the proceeds from the sale to support Auxly’s ongoing operations.

“We are pleased with the sale of our Annapolis indoor facility,” said Hugo Alves, CEO. “Being able to monetize this non-core asset to strengthen our cash position in a non-dilutive way is fantastic for the company and provides us with additional capital to support Auxly’s strategic objectives.”

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