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Cannabis Wheaton Income Corp. Announces Name Change to Auxly Cannabis Group Inc.
VANCOUVER, British Columbia, June 08, 2018 (GLOBE NEWSWIRE) -- Auxly Cannabis Group Inc. (TSX.V:XLY) ("Auxly" or the "Company") is pleased to announce that it has changed its corporate name from “Cannabis Wheaton Income Corp.” to “Auxly Cannabis Group Inc.” effective today.
Effective at the market opening June 8, 2018, the common shares of the Company commenced trading on the TSX Venture Exchange under the Company’s new name and under the trading symbol “XLY”.
Ian Rapsey, Chief Creative Officer of Auxly Cannabis Group, stated, “Changing our name to Auxly pays tribute to the evolution of our business from a dedicated streaming platform to one that is immersed in all aspects of the cannabis value chain.
"When we recently passed our one-year anniversary, we took a moment and realized that the company we started really isn’t the company that it is today – it has grown into something far greater and much more vibrant. We realized that we need a brand that better reflects this.
"You don’t build a brand for today, you build a brand for three, five, ten years down the road. Something that will grow, and adapt, but will always stay true to your core ambition, and our core ambition has always been to create an auxiliary industry platform that supports our partners and promotes industry growth. To be a company that remains relevant. To march to the beat of our drum and build something unique and different that we can all be proud of. This last year has been about building our foundation and now we get to architect the future.
"We are more than a streaming company. This is Auxly.”
ON BEHALF OF THE BOARD
"Chuck Rifici" Chairman & CEO
About Auxly Cannabis Group Inc. (TSX.V:XLY)
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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Notice Regarding Forward Looking Information:
This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities law. Forward-looking information is frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or information that certain events or conditions "may" or "will" occur. This information is only a prediction. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking information throughout this news release. Forward-looking information includes, but is not limited to: the Company’s ability to successfully expand domestic and international operations and obtain new investment opportunities. There can be no assurance that the Company will realize the anticipated benefits from the Company’s business model.
A number of factors could cause actual results to differ materially from a conclusion, forecast or projection contained in the forward-looking information in this release including, but not limited to, whether: streaming partners will be able to generate cash flow; general economic, financial market, regulatory and political conditions in which the Company operates will remain the same; the Company will be able to compete in the industry; the Company will be able to manage anticipated and unanticipated costs; the Company will be able to enter into additional streaming agreements; the Company will be able to maintain internal controls over financial reporting and disclosure, controls and procedures; streaming partners will be able to meet the requirements necessary to obtain and / or maintain their status as licensed entities; and streaming partners will be able to successfully complete initial construction and / or expansion construction of their respective facilities pursuant to the terms and conditions of their respective streaming agreements. Additional risk factors are disclosed in the revised annual information form of the Company for the financial year ended December 31, 2017 dated May 24, 2018.
New factors emerge from time to time, and it is not possible for management to predict all of those factors or to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The forward-looking information in this release is based on information currently available and what management believes are reasonable assumptions. Forward-looking information speaks only to such assumptions as of the date of this release. In addition, this release may contain forward-looking information attributed to third party industry sources, the accuracy of which has not been verified by the Company. The purpose of forward-looking information is to provide the reader with a description of management's expectations, and such forward-looking information may not be appropriate for any other purpose. Readers should not place undue reliance on forward-looking information contained in this release.
The forward-looking information contained in this release is expressly qualified by the foregoing cautionary statements and is made as of the date of this release. Except as may be required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking information to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.