Geometry Dash APK Hill Climb Racing APK
55.3 F
New York
Tuesday, December 6, 2022

The Battle is On in Auxly Cannabis Group Inc (OTCMKTS:CBWTF)

Must read

Is Tilray Inc (NASDAQ:TLRY) Stock a Good Buy After The Recent Fall?

The cannabis sector may have had a hard time not too long ago but over the course of the past months, the...

Sysorex Inc (OTCMKTS:SYSX) Stock Still Riding Big News

Investors are always drawn to stocks that make a big jump out of nowhere. So it's no surprise that Sysorex Inc (OTCMKTS:SYSX)...

88 Energy Limited Ltd (EEENF) Update: Continues Climbing on Significant Volume

Investors who might be looking for stocks that have made considerable gains in recent weeks could consider having a closer look at...

Victory Resources Corporation (OTCMKTS:VRCFF) Stock Rockets After Announcing A New Acquisition

Nowadays, lithium is in huge demand across several industries and hence, it the rally in the Victory Resources Corporation (OTCMKTS:VRCFF) stock the...

Auxly Cannabis Group Inc (OTCMKTS:CBWTF) recently announced that it has entered into a supply agreement with its strategic partner, Delta 9 Cannabis Inc. in which the Company will supply cannabis products to Delta 9’s multiple retail locations, where permitted.

According to the release, Delta 9 is a vertically integrated cannabis company based in Winnipeg, Manitoba. Delta 9 currently operates four cannabis retail stores in Manitoba, with plans to build out a chain of retail stores under the Delta 9 Cannabis Store brand. Delta 9’s stores have become one of the top performing retail platforms in Canada since October 2017, recording over $14 million in retail revenue and over 250,000 customer transactions in the first twelve months of legal cannabis sales.

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.”

Find out when $CBWTF reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.

As noted above, CBWTF just announced that it has entered into a supply agreement with its strategic partner, Delta 9 Cannabis Inc. in which the Company will supply cannabis products to Delta 9’s multiple retail locations, where permitted.

While this is a clear factor, it has been incorporated into a trading tape characterized by a pretty dominant offer, which hasn’t been the type of action CBWTF shareholders really want to see. In total, over the past five days, shares of the stock have dropped by roughly -30% on above average trading volume. All in all, not a particularly friendly tape, but one that may ultimately present some new opportunities. Over the past month, shares of the stock have suffered from clear selling pressure, dropping by roughly -46%. What’s more, the company has benefitted from a jump in recent trading volume to the tune of 74% above the average volume levels in play in this stock over the longer term.

“We are so pleased to be distributing our branded cannabis products through our strategic partner’s retail stores,” said Hugo Alves, CEO of Auxly.  “We are thrilled that consumers will be able to purchase our suite of cannabis products at Delta 9 retail locations including oils, chocolates, chewables and vape products under our Kolab Project, Foray and Dosecann brands. Delta 9 was one of our first strategic partners, and we are so excited to reaffirm our partnership and  joint commitment to developing a robust platform for the recreational cannabis market across Canada.”

Now commanding a market cap of $142M, CBWTF has a significant war chest ($186.9M) of cash on the books, which must be weighed relative to about $154.7M in total current liabilities. One should also note that debt has been growing over recent quarters. CBWTF is pulling in trailing 12-month revenues of $5.8M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 215.8%. We will update the story again soon as developments 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.

Latest article

Alibaba Group Holding Limited (OTCMKTS:BABAF) Big Volume with Possible 60% Upside

Alibaba Group Holding Limited (OTCMKTS:  BABAF) is an over the counter stock traded on the OTC Pink markets in the Consumer Discretionary...

Trans Global Group Inc (OTCMKTS:TGGI) Stock In Focus After Operational Updates

The Trans Global Group Inc (OTCMKTS:TGGI) stock may not have been in the news today yet but it...

Why Hycroft Mining (NASDAQ:HYMC) Stock Shot Up 700%

If you are on the hunt for stocks that may have made major gains over the course of the past week, then...

Secure Paymentz releases banking software demo on Github

This is a paid announcement from one of our advertising partners. How to Leverage Your Trading Position by Secure...

Advanced Asset Management Announces New Website Launch

This is a paid announcement from one of our advertising partners. Financial Planner in Grandville, Michigan
Şehirler arası nakliyat ve Şehirler arası taşımacılık konusunda en uygun fiyatlar ve en kaliteli hizmet.
ofis taşıma firmaları ve ofis taşıma konusunda en uygun fiyatlar ve en kaliteli hizmet.
SmsVerifyer.com Affordable best sms verification service