- Auxly Cannabis Group ( OTCQX:CBWTF ) has finalized the sale of its Auxly Annapolis OG outdoor cultivation facility in Hortonville, Nova Scotia.
- The facility is being sold to a private purchaser for total proceeds to the company of $4.1M.
- As previously disclosed, Auxly ( OTCQX:CBWTF ) closed both its cultivation facilities located in Nova Scotia in Feb. 2022 and sold its Auxly Annapolis indoor cultivation facility in July 2022 for total proceeds of $6M. Proceeds from both sales will be used to support Auxly's ongoing operations.
- CEO Hugo Alves stated: "The sale of the Auxly Annapolis outdoor facility for $4.1M further strengthens the company's cash position as we have now received a cumulative $10.1M for both our Nova Scotia cultivation assets. We remain committed to identifying opportunities to reduce costs, streamline operations and source additional capital in a non-dilutive way as we continue to focus our efforts of achieving our goal of becoming Adjusted EBITDA profitable in 2022."
For further details see:
Auxly finalizes sale of Nova Scotia outdoor cultivation facility for $4.1M