Auxly Cannabis (TSXV: XLY) announced this morning that it has enhanced its partnership with that of cannabis producer and retailer Delta 9 Cannabis (TSX: DN). The partnership will see Auxly supply its cannabis 2.0 products to that of Delta 9’s retail locations throughout Manitoba.
The partnership builds upon a strategic relationship previously entered into among the two firms. In September 2018, the two firms initially began a strategic relationship, wherein Delta 9 agreed to supply Auxly with up to 5,000 kilograms of dried cannabis flower and 500 kilograms of cannabis trim each year up until July 1, 2030. In exchange for this right Auxly invested $16.25 million in the Manitoba producer, becoming one of the largest early investors.
Under the new agreement, Auxly will supply Delta 9’s store with cannabis oils, chocolates, chewables, and vapes where permitted. Delta 9 currently has four retail locations across Manitoba in operation and intends to further develop a chain of retail locations.
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Auxly Cannabis last traded at $0.54 on the TSX Venture.
Information for this briefing was found via Sedar and Auxly Cannabis Group Inc. The author is no position in this security and has no affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
