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Auxly Signs $123
Million Investment
and R&D Partnership
with Imperial Brands
Driving future growth in derivative cannabis products
n July 25th, Vancouver-based Auxly market following the legalization of edibles, extracts
Cannabis Group Inc. announced and topicals later this year.”
that Imperial Brands PLC will invest
Oapproximately $123 million in Auxly Chuck Rifici, Chairman and CEO of Auxly, added:
and grant Auxly global licences to Imperial Brands’ “Following its extensive evaluation of the Canadian
vaping technology and access to its vapor innova- cannabis market, we’re thrilled that Imperial Brands
tion business, Nerudia. selected Auxly as its partner of choice due to the
high calibre of our assets, people and capabilities.
“This investment from Imperial Brands will enhance We are particularly excited to partner with Imperial
Auxly’s ability to continue to deliver on our busi- Brands on current and future intellectual property
ness plans and accelerate our growth initiatives to and product development, starting with immediate
expand our portfolio of branded derivative prod- access to its portfolio of vaping technologies and
ucts,” said Hugo Alves, President of Auxly. “The research and development capabilities.”
timing is ideal as we prepare to bring our portfolio
of innovative cannabis products to the Canadian Imperial Brands is an international fast-moving
6 AUG/SEP 2019 | BUSINESS ELITE CANADA
