Hugo Alves, the president of Auxly, and Michael Lickver, senior vice president of approach for the Vancouver, British Columbia-primarily based cannabis organization, announced their resignations Monday.
No reason for their departures was provided in a Dixie Brands news release.
“While we are departing the Dixie Board of Directors, we stay powerful believers in the Dixie group and approach,” Alves stated in a statement.
He added that Auxly plans to continue to “build our industrial connection with them inside the Canadian marketplace.”
On Friday, United Kingdom-primarily based tobacco giant Imperial Brands announced it would spend 123 million Canadian dollars ($93.four million) for a 19.9% stake in Auxly.
Auxly trades beneath the ticker symbol CBWTF on the more than-the-counter markets and as XLY on the TSX Venture Exchange. Dixie trades as DIXI.U on the Canadian Securities Exchange.
Dixie Brands CEO Chuck Smith, in a statement, praised the two Auxly executives for their “strategic counsel via a period of speedy growth” at the infused item organization.