Benzinga | Nov 10, 2021 01:58PM EST

Auxly Confirmed As 5th Canadian LP By National Market Share, Introduces New Line

Auxly Cannabis Group Inc. (TSX - XLY) (OTC:CBWTF) introduced a fall lineup packed with new products, flavors and formulations and confirmed it has reached one of its key 2021 objectives -- obtaining the #5 position among Canadian licensed producers.

October data vaulted Auxly into the fifth spot among Canadian LPs, with a 7.3% share of the national market, as confirmed by Headset Canadian Insights. Auxly has continued to gain market share through its leadership in the cannabis 2.0 segment where it maintains #1 position in vapes and the #1 position in the cannabis 2.0 segment overall. Its successful expansion into the 1.0 segment was helped by strong consumer demand for the Company's Back Forty and Kolab Project products, which vaulted the Company into the Top 10 producers for both the dried-flower and pre-roll categories.

Going forward, Auxly unveiled a suite of new product offerings on Wednesday including new seasonal confections that evoke the cozy warmth of the holidays; brand-new innovations; extensions of existing product lines that take Auxly brands in new directions; new dried-flower strains; and new flavors & formulations for Auxly's industry-leading vape portfolio.

"Every member of our team is delighted by the strong response from consumers to our products," Andrew MacMillan, Senior Vice President, Commercial, Auxly stated. "Our iterative process for innovation is rooted in consumer insights, and driven by the tireless execution of product development, sales and marketing. Seasonal trends are very much a part of our formula and this latest round of product innovations convey the coziness and warmth of fall. We're thrilled with our continued growth and can't wait to bring more exciting new products to Canadian cannabis consumers."

Price Action

Auxly's shares were trading 5.59% higher at 26 cents per share at the time of writing Tuesday morning.

Photo: Courtesy of Auxly