Friday, August 22, 2025

Chuck Rifici Out! Auxly Moves On

This morning Auxly Cannabis Group (TSXV: XLY) announced they are moving forward with a succession plan at the CEO position. Auxly Board named Hugo Alves, current President to succeed Chuck Rifici as CEO, effective August 27, 2019. Rifici will continue to serve as Chairman of Auxly’s Board of Directors.

It’s been an honour to serve as Auxly’s CEO for the last two years…. And I am pleased to announce Hugo’s promotion to guide Auxly through its next chapter, as we move toward commercialization of our branded derivative products. As a leading lawyer and regulatory expert in the cannabis space and one of the co-founders of Auxly, Hugo has demonstrated an unrivaled depth of industry knowledge and an ability to build and grow the business. With Hugo at the helm, Auxly, together with our subsidiaries and partners, is poised to deliver the next stage of growth as we progress towards our vision of becoming a global cannabis leader.”

Chuck Rifici, Outgoing CEO, Auxly

Of course, last week friend of the Deep Dive, @BettingBruiser predicted this.

Auxly surprised the cannabis investment community when they announced they had agreed to a $123M investment from Imperial Brands last month. This investment is earmarked for a research and development partnership and gives Auxly the global licences to the British tobacco giant’s vaping technology.

Of course, Chuck gave himself a nice parting gift last week.

Image
Source: Instagam @crifci

Information for this briefing was found via Sedar, Twitter, Instagram 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.

Video Articles

A Medical Breakthrough the Market Overlooked | David Elsley – Cardiol Therapeutics

Why Grade Beats Size in Silver Mining | Frank Basa – Nord Precious Metals

Are Investors Missing the Start of the Next Commodity Supercycle? | Morgan Lekstrom – NexMetals

Recommended

Emerita Resources Expands El Cura Drill Program By 10,000 Metres As Deposit Remains Open For Expansion

ESGold Signs MOU For Tailings Project In Colombia With Grades Up To 42 g/t Gold, 280 g/t Silver

Related News

Auxly Cannabis Secures Assets of Curative Cannabis

Auxly Cannabis (TSXV: XLY) has officially completed the foreclosure process on the share collateral of...

Friday, November 29, 2019, 09:44:59 AM

Auxly, Delta 9 Enhance Strategic Partnership

Auxly Cannabis (TSXV: XLY) announced this morning that it has enhanced its partnership with that...

Tuesday, February 25, 2020, 08:20:06 AM

Auxly Cannabis Sees Revenues Decline From Fourth Quarter To $22.6 Million

Growth appears to be starting to slow for Auxly Cannabis (TSX: XLY). The firm this...

Monday, May 16, 2022, 07:56:35 AM

Imperial Brands Tops Up Auxly Ownership

Imperial Brands has topped up its position in Auxly Cannabis (TSXV: XLY). The move is...

Tuesday, December 17, 2019, 08:14:58 AM

Auxly Announces Focus On Dried Flower Products

Auxly Cannabis (TSXV: XLY) appears to be working backwards when it comes to product offerings....

Thursday, February 18, 2021, 08:42:57 AM