Auxly Cannabis Group Inc. (TSX.V – XLY), together with its wholly owned subsidiary Robinsons Cannabis Inc., is thrilled to announce Robinsons Outdoor Grow , a large scale, high quality outdoor cultivation project located in the heart of Nova Scotia’s award-winning wine region of Annapolis Valley.
Robinsons OG is uniquely located in a region that is ideal for outdoor cannabis cultivation given its diverse soil types and microclimates; the same soil on which the Acadians grew hemp over 250 years ago. Located within 25 kilometers of Robinsons’ 27,700 square foot indoor facility, Robinsons OG is comprised of over 158 acres of land in Hortonville, Nova Scotia and offers road frontage and highway access, allowing for the potential future development of tourism and point of sale opportunities.
Under the leadership of cannabis industry veteran Andrew Robinson, Robinsons OG will use a range of proprietary genetics with a track record of success in this climate and apply several outdoor growing techniques commonly used in the fruit crop production and wine industries.
The Robinsons OG project is of significant strategic value to Auxly, as it provides access to high-quality, sun grown cannabis flower for environmentally conscious consumers and a large amount of organic biomass at lower capital and operational costs and a lower carbon footprint relative to conventional indoor or greenhouse cultivation. The long-term, stable supply of outdoor cannabis produced on site at Robinsons OG will help support the product development initiatives at Dosecann Inc., the Company’s wholly owned 52,000 square foot facility located in nearby Charlottetown, Prince Edward Island. A substantial portion of the cannabis produced at Robinsons OG will be used to create premium, terroir-driven Robinsons-branded derivative cannabis products, with the same commitment to quality and craftsmanship as Robinsons’ dried flower.
Robinsons OG expects to submit its application and evidence of readiness to obtain a cultivation licence under the Cannabis Act from Health Canada in Q1 2020. The Company expects the capital expenditure for the buildout of Robinsons OG to be up to approximately $15 million (of which approximately $6 million has already been funded, with the remainder expected to be contributed through the first half of 2020), with expected yield of approximately 200 kilograms per acre. Robinsons OG expects to plant approximately 20 acres in the 2020 season and responsibly scale operations in the following years.
Hugo Alves, CEO of Auxly, commented: “We are thrilled to announce our Robinsons OG project. As you know, we are very excited to introduce Andrew’s incredible dried cannabis flower to discerning Canadian consumers and Robinsons OG provides us with the perfect platform from which to expand our Robinsons branded product offering. Under Andrew’s supervision, Robinsons OG will give us the ability to grow a broader range of Robinsons’ genetics, using Robinsons’ cultivation methodologies, and take advantage of the unique terroir of the Annapolis Valley to bring Canadian consumers Robinsons branded cannabis products, all produced with an unwavering commitment to quality and craftsmanship.”
Andrew Robinson, President and Founder of Robinsons, commented: “We are excited to have successfully secured over 158 acres of prime, fertile land, with a collection of features highly sought after in the flourishing local wine industry. The Robinsons OG site is located in one of the most picturesque areas in Annapolis Valley, conveniently close to our Kentville facility. It has a unique microclimate inspired by the tidal Gaspereau River, gentle southern sloping hills that provide maximum sun exposure and terroir influence from the Acadian, Wolfville, and Hortonville soils. We are excited to add Robinsons OG to the Robinsons portfolio, and look forward to providing our superior outdoor cannabis to support Dosecann with high-quality cannabinoids and serve the environmentally conscious market seeking outdoor grown cannabis.”
ON BEHALF OF THE BOARD
“Hugo Alves” CEO
About Auxly Cannabis Group Inc. (TSX.V: XLY) (OTCQX: CBWTF)
Auxly is an international cannabis company dedicated to bringing innovative, effective, and high-quality cannabis products to the medical, wellness and adult-use markets. Auxly’s experienced team of industry first-movers and enterprising visionaries has secured a diversified supply of raw cannabis, strong clinical, scientific and operating capabilities and leading product research and development infrastructure in order to create trusted products and brands in an expanding global market.
Learn more at www.auxly.com and stay up to date at Twitter: @AuxlyGroup; Instagram: @auxlygroup; Facebook: @auxlygroup; LinkedIn: company/auxlygroup/.
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Notice Regarding Forward Looking Statements:
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 proposed operation of Robinsons OG; the timeline for the funding and licensing of the Robinsons OG project; expectations of future growing capability at the Robinsons OG project and the projected costs associated with the project; the proposed operation of the Dosecann facility; consumer preferences; political change; future legislative and regulatory developments involving cannabis and cannabis products; and competition and other risks affecting the Company in particular and the cannabis industry generally.
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: Robinsons OG is able to obtain and maintain all necessary governmental and regulatory authorizations and permits to conduct business; Robinsons OG is able to successfully cultivate and harvest outdoor cannabis crops in Nova Scotia at the anticipated cost and yield; and general economic, financial market, legislative, regulatory, competitive and political conditions in which the Company operates will remain the same. 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.
Published at Fri, 15 Nov 2019 12:42:13 +0000