TORONTO, July 28, 2026 /CNW/ -- Auxly Cannabis Group Inc. (TSX: XLY) (OTCQB: CBWTF) ("Auxly" or the "Company") announces the outstanding common shares in the capital of the Company ("Common Shares") begin trading today on the basis of fourteen (14) pre-consolidation Common Shares to one (1) post-consolidation Common Share, as announced on July 22, 2026 and approved by the Company's shareholders at its Annual General and Special Meeting of Shareholders on June 30, 2026.

For a detailed commentary on the Company's position with respect to the Consolidation, refer to Auxly's Q1 2026 Letter to Shareholders here.

ON BEHALF OF THE BOARD

"Hugo Alves" CEO

About Auxly Cannabis Group Inc. (TSX: XLY)

Auxly is a leading Canadian consumer packaged goods company in the cannabis products market, headquartered in Toronto, Canada. Our mission is to help consumers live happier lives through quality cannabis products that they trust and love.

Our vision is to be a global leader quality cannabis products.

Learn more at www.auxly.com and stay up to date at Twitter: @AuxlyGroup; Instagram: @auxlygroup; Facebook: @auxlygroup; LinkedIn: company/auxlygroup/.

Neither Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.

Notice Regarding Forward Looking Information:  

This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities laws. Forward-looking information is frequently characterized by words such as "expect", "anticipate", "intend", "will", "may", "plan", "continue", "believe", "estimate", "potential" and similar expressions, or statements that certain events or conditions "may" or "will" occur.

Forward-looking information in this news release includes, but is not limited to, statements regarding: the anticipated effective date of the Consolidation; the expected commencement of trading of the Common Shares on a post-Consolidation basis; the anticipated reduction in the number of issued and outstanding Common Shares; the treatment of fractional Common Shares; the issuance of replacement DRS advices and processing of the Consolidation by the Company's transfer agent and intermediaries; the adjustment of the Company's outstanding convertible securities; and the expected timing and completion of the Consolidation generally.

Forward-looking information is based on management's current expectations, estimates, projections and assumptions, including, among other things, that all necessary regulatory approvals will be obtained and that the Consolidation will be completed on the anticipated timeline. Although the Company believes these assumptions are reasonable, they may prove to be incorrect.

Actual results may differ materially from those expressed or implied by the forward-looking information as a result of a number of risks and uncertainties, including, without limitation: the failure to obtain or maintain required regulatory approvals; delays in the implementation of the Consolidation; unexpected administrative or operational issues relating to the Consolidation or the processing thereof by the Company's transfer agent or intermediaries; changes in applicable laws or regulatory requirements; and general economic, market or business conditions. Additional risk factors are disclosed in the annual information form of the Company for the financial year ended December 31, 2025 dated March 25, 2026.

Readers are cautioned not to place undue reliance on forward-looking information. The forward-looking information contained in this news release is made as of the date hereof and is expressly qualified in its entirety by these cautionary statements. Except as required by applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

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SOURCE Auxly Cannabis Group Inc.