Grow Auxly Grow :) Auxly on a Hot Streak Heading into a Summer Packed with New Products
Monday, July 12, 2021, 7:30 AM ET
Auxly on a Hot Streak Heading into a Summer Packed with New Products
Auxly's popular consumer brands Kolab Project, Back Forty, Foray and Dosecann have something for every cannabis consumer this summer
TORONTO, July 12, 2021 (GLOBE NEWSWIRE) -- Auxly Cannabis Group Inc. (TSX - XLY) ("Auxly" or the "Company"), a leading consumer packaged goods company in the cannabis products market, is excited to present its product line-up for a summer season filled with brand-new offerings and inspired flavours across multiple categories, including dried flower, vapes, edibles, oil, capsules and concentrates.
Today's announcement comes as the Company is experiencing success with its previously announced strategic expansion into the dried flower market, including the introduction of dried flower offerings under its Back Forty brand. Auxly's Back Forty Pine Kush launched in March and it has quickly become one of the most popular flower brands in Canada(i) . The success of the Back Forty flower launch has helped Auxly capture approximately 2% of the entire national cannabis flower market (dried flower and pre-rolls(ii) ) for the month of June. The Company is delighted with its early success in a segment (dried flower) that accounts for nearly 75% of all Canadian cannabis sales to-date this quarter, or more than $2 billion in sales annually(iii) .
With its leadership position in cannabis 2.0 products and the added success of dried flower sales, Auxly has achieved a 5.2% share of the national market for the month of June, as confirmed by Headset Canadian Insights. Further, the Company has moved up to the #6 position among Canadian Licensed Producers for the month of June(iv) .
Now, Auxly looks ahead to a summer 2021 lineup designed to delight Canadian cannabis consumers and capture even more of the dried flower market, including exciting new cultivars under the Back Forty brand and the launch of Back Forty pre-rolls.
"Through a focused strategy built on deep consumer insights and executional excellence, we are proud to continue to grow our market share and make a successful entry into the dried flower segment," said Hugo Alves, CEO of Auxly. "We are excited to continue introducing new products that are responsive to our consumers' needs, including a more robust line-up of dried flower and pre-roll offerings under our Back Forty and Kolab brands."
"Canadians deserve something special after a year and a half of pandemic life, and we wanted to make sure our brands rose to the occasion," said Andrew MacMillan, Senior Vice President, Commercial, Auxly. "Our team of product developers and marketing experts have leveraged consumer insights this summer to bring a suite of high-quality and unique cannabis products that we believe will continue to drive sales and gain meaningful market share for Auxly."
Here's a look at the new products Canadian cannabis consumers can look forward to this summer from Auxly's in-house brands Kolab Project, Back Forty, Foray and Dosecann. More information about these product launches will be announced over the coming weeks. The following products will be available across Canada: