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Sunday, January 16, 2022

Gauging the Bottom Potential in Auxly Cannabis Group Inc (OTCMKTS: CBWTF)

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We may be starting to see a bottom bounce pattern come under construction for Auxly Cannabis Group Inc (OTCMKTS: CBWTF). Helping to fuel the action, the company just announced that its wholly-owned subsidiary, Dosecann Inc., has successfully obtained a Dealer’s Licence for Controlled Drugs and Substances from Health Canada pursuant to the Narcotics Control Regulations for Dosecann’s purpose built 42,000 square foot facility located in Charlottetown, PEI.

According to the release, “The Licence allows Dosecann to serve as a central mid-stream hub to Auxly and its subsidiaries and partners in the development and manufacturing of value-added cannabis products. The Licence authorizes Dosecann to engage in various activities related to manufacturing of cannabis oils and resins through extraction of dried cannabis flower, production of authorized cannabis products, product formulation, research and development and quality testing. In addition, the Licence permits the import of input materials and the export of finished cannabis products to international markets for medical and scientific purposes.”

Auxly Cannabis Group Inc (OTCMKTS: CBWTF) trumpets itself as an investment company that seeks to provide investor returns through streams and capital appreciation in the Canadian cannabis industry.

The company operates as a cannabis streaming company. It provides funding for cannabis facility expansions, operations, and initial construction in exchange for minority equity interests and a portion of the cultivation production.

The company was formerly known as Knightswood Financial Corp. and changed its name to Cannabis Wheaton Income Corp. in May 2017. Cannabis Wheaton Income Corp. was incorporated in 1987 and is based in Vancouver, Canada, and became known as Auxly Cannabis Group Inc over recent months.

According to company materials, “Auxly Cannabis Group is a collective of entrepreneurs with a passion for the cannabis industry past, present and future. Our mandate is to facilitate growth for our partners by providing them with financial support and sharing our collective industry experience. Our partners all have different visions, voices and brand values, and all share a common goal—to build a world-class industry based on ethics, diversity, quality and innovation.”

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The chart shows a steady downtrend in effect over the past 3 months, but 2% upside during the past week. Furthermore, the name has witnessed a pop in interest, as transaction volume levels have recently pushed 18% beyond what we have been seeing over the larger time frame.

Greg Boone, Chief Executive Officer of Dosecann commented: “Receiving our Dealer’s Licence represents the culmination of years’ worth of hard work at the facility to get it prepared for this day and we could not be more excited to see it all coming together. I would like to thank all members of the Dosecann and Auxly teams for their continual efforts and for their commitment to building this world-class facility that will act as a key asset within the overall Auxly business strategy.”

Hugo Alves, President and Director of Auxly commented: “Dosecann is the cornerstone asset in our midstream (value-add) business segment and we are thrilled to have received a Dealer’s Licence from Health Canada. We look forward to working closely with Greg and his team as we position Dosecann, and subsequently, Auxly, as a leading producer of value added cannabis products in Canada and beyond.”

At this time, carrying a capital value in the market of $331.6M, CBWTF has a significant war chest ($206.4M) of cash on the books, which must be weighed relative to virtually no total current liabilities. The company has pulled in $1.58M in trailing 12-month revs, with significant sequential quarterly growth on the topline over the past several quarters. This is an exciting story, and we look forward to a follow-up chapter as events transpire. Sign-up for continuing coverage on shares of $CBWTF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $CBWTF, either long or short, and we have not been compensated for this article.

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