Auxly Announces Opening of Kolab Project’s Flagship Retail Store in Saskatchewan
July 15 2019 - 8:00AM
Auxly Cannabis Group Inc. (TSX.V - XLY)
("
Auxly" or the "
Company") today
announced the official opening of LAB001, the flagship retail
location of its wholly- owned subsidiary, Kolab Project Inc.
(“
Kolab”). LAB001, located at #7, 3427 - 50 Avenue
in Lloydminster, Saskatchewan, is open and operational as of July
11, 2019. In conjunction with the opening of the retail location,
Kolab is now able to commence province-wide e-commerce sales in
Saskatchewan.
The flagship retail location was designed in
collaboration with Toronto-based studio IV. The space is designed
to be not only a shoppable destination, but a transformative one; a
storefront that doesn’t simply house branded items for purchase,
but is in itself an extension of the brand and its ethos.
As one of Auxly’s cornerstone brands, Kolab is
committed to supporting the arts, design and culture. Its mission
is to provide Canadians with a carefully cultivated selection of
exceptional cannabis products, while championing high quality,
purposeful goods produced in collaboration with culturally-relevant
creators.
“We are extremely pleased to be opening our
first retail cannabis store and extending our vertically integrated
business into Saskatchewan,” said Hugo Alves, President of Auxly.
“I’m proud of our Auxly and Kolab teams, whose joint efforts
enabled us to open and support the operation of our flagship retail
location. We look forward to delivering a premium in-store
experience and products to the Saskatchewan community.”
ON BEHALF OF THE BOARD"Chuck Rifici" Chairman
& CEO
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
product 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/.
Investor Relations:
For investor enquiries please contact our Investor Relations
Team:Email: IR@auxly.com Phone: 1.833.695.2414
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 Kolab's retail store; the Company's
ability to maintain the cannabis retail permit in Saskatchewan and
to generate revenue from such cannabis retail permit; political
change, future legislative and regulatory developments involving
cannabis and cannabis products; and 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: Kolab is able to maintain
the necessary governmental and regulatory authorizations and
permits to conduct business; and general economic, financial
market, regulatory and political conditions in which the Company
and Kolab 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.
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