Auxly Strengthens its Board and Announces Additional Steps on Path to Profitability

• Auxly Founder & Chair Chuck Rifici has resigned from the Board of Directors; independent director Genevieve Young appointed new Chair, effective immediately
• New independent director Vikram Bawa to join the Board, bringing extensive senior global marketing leadership experience from top-tier companies including Logitech, McCain Foods, Nestle, Wrigley and Colgate Palmolive
• Michael Lickver, current Senior Vice President of Strategy, named President
• Announces additional steps on path to profitability, including continued executional excellence and SG&A reductions

TORONTO, Oct. 01, 2020 (GLOBE NEWSWIRE) -- Auxly Cannabis Group Inc. (TSX.V - XLY) ("Auxly" or the “Company”) today announces changes to its Board of Directors and management team and a Company-wide operational update on its path to profitability.

Board and Leadership Changes

Mr. Chuck Rifici will be stepping down as Chair of the Board of Directors and Ms. Genevieve Young, a current Independent Director on the Board and Chair of Auxly’s Audit Committee, will be assuming the role of Chair, effective immediately. Ms. Young is the President and Chief Operating Officer of Global Public Affairs, Canada’s leading privately held strategic communications and government advocacy consultancy, representing some of Canada’s largest and most dynamic organizations. Her strong communications and government relations experience will continue to be instrumental to the Company in this new role, as Auxly looks to achieve its goal of becoming a global leader in branded cannabis products.

“The entire Auxly family would like to thank Chuck for his contributions to the Company and wish him the best in his future endeavors,” said Hugo Alves, Chief Executive Officer. “As a founder and former CEO, Chuck helped build Auxly from the ground up and we thank him for his hard work and dedication in getting Auxly to where it is today.”

Mr. Rifici added: “I have never been more confident in Auxly’s positioning in the market. As an investor and ambassador of the Company, I truly believe the management team is one of the best in the industry and I am confident in their ability to make incredible products and build unrivalled brands. Although I am resigning as Chair, I continue to support the Company as it enters this new chapter of growth.”

Auxly’s Board of Directors will also be welcoming a new Independent Director, Mr. Vikram Bawa. Mr. Bawa is a senior global marketing leader with an extensive record of delivering results with first-hand experience in both mature and emerging markets with a single-minded focus on the consumer. He has lived and worked across North America, Asia and Europe with top-tier fast-moving consumer goods, electronics and advertising companies. Mr. Bawa has led multifunctional and diverse organizations across categories (Health and Beauty, Food and Consumer Electronics) and has developed long term business strategy at both the local and global levels, helping execute with excellence. Mr. Bawa brings decades of experience in consumer insights, brand building and marketing to Auxly’s Board, having served most recently as the Vice President and Head of Marketing – Asia Pacific, Europe, Middle East and Africa (EAMEA) for Logitech S.A. (based out of China and Switzerland).  Prior to that, Mr. Bawa was Vice President Marketing at McCain Foods Canada, where he was responsible for all marketing functions including Retail, Food Service, Innovation and Consumer Insights. He has also held senior roles with Nestle (Switzerland and Canada), Wrigley and Colgate Palmolive (Philippines and USA).