Auxly Cannabis Group Inc. (TSX: XLY) announced the sale of its Auxly Annapolis Inc. indoor cultivation facility located in Kentville, Nova Scotia to a private purchaser for total proceeds to the Company of $6 million.
Auxly ceased operations at the cultivation facility in February 2022.
"We are pleased with the sale of our Annapolis indoor facility,"
Hugo Alves, CEO.
"Being able to monetize this non-core asset to strengthen our cash position in a non-dilutive way is fantastic for the company and provides us with additional capital to support Auxly's strategic objectives."
The facility is located in Kentville, Nova Scotia.
Auxly Annapolis was a 27,700 sq. ft. indoor cultivation facility that previously focused on the production of high-quality craft cannabis.