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Australis Capital granted Special Use Permit for Tropical Parkway land acquired with Green Therapeutics deal

The permit will enable the group to transfer and consolidate the licenses currently held at various locations to the site in Nevada

Australis Capital Inc -
A spin-out of Aurora Cannabis, Australis identifies and invests in the cannabis industry predominantly in the United States

Australis Capital Inc. (CSE:AUSA) (OTCMKTS:AUSAF) revealed Tuesday that it has been granted a Special Use Permit by the city of North Las Vegas for the Tropical Parkway land acquired with its acquisition of Green Therapeutics announced in May.

In a statement, Australis noted that the permit for cultivation and production of cannabis products will enable the group to transfer and consolidate the licenses currently held at various locations to the Tropical Parkway location in Nevada.

READ: Australis Capital upgraded to trade on OTCQX Best Market

With this approval, the company said, it can proceed with the required off-site work, utilities and preconstruction on-site work such as grading and leveling.

This preparation proceeds the greenhouse construction proposed for Australis’s flagship cultivation and manufacturing location in North Las Vegas, it added.

The proposed state-of-the-art facility would house multiple Australis brands including, Tsunami premium extracts, Provisions extracts, and Mr. Natural premium line of organic flower.

In parallel to the pre-construction work and permitting, Australis said, Tsunami and Provisions sales continue to gain traction through strategic sales and marketing efforts.

With a wide array of phenotypes and broad distribution through the largest dispensaries in Nevada, including Planet 13, Essence and Thrive, Tsunami and Provisions are quickly expanding market share in Nevada, the company added.

In addition, Australis pointed out that it is optimizing the Mr. Natural specialized organic brand in preparation for commercialization in Nevada.

A spin-out of Aurora Cannabis (NYSE:ACB) (TSX:ACB) in September 2018, Australis identifies and invests in the cannabis industry predominantly in the United States, a highly-regulated, fragmented, rapidly-expanding and evolving industry.

Its operating and portfolio assets include Rthm Technologies Inc., Body and Mind Inc., Quality Green Inc., Folium Biosciences, Mr. Natural Inc., and Green Therapeutics, LLC. AUSA has also developed strategic partnerships with leading innovators such as Wagner Dimas.

Contact the author at jon.hopkins@proactiveinvestors.com

Quick facts: Australis Capital Inc

Price: 0.135 CAD

CSE:AUSA
Market: CSE
Market Cap: $23.05 m
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