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Australis Capital is scaling up its award-winning brands across the US and global cannabis markets

Last updated: 08:51 27 Feb 2023 EST, First published: 06:15 24 Nov 2021 EST

Snapshot

  • Audacious closes ALPS assets sale
  • Australis Capital completes 51% acquisition of ALPS
Australis Capital Inc -

About the company

AUSA is at its roots a community and culture-based cannabis company. After the completion of a dissident shareholder battle that ended with convincing shareholder approval, Terry Booth, former Aurora CEO, who had to step away from AUSA upon spin off, re-joined AUSA as CEO on March 9, 2021. Since then, the company has reset the direction of AUSA and in just 6 months closed multiple accretive transactions, improved legacy contracts, established a world class Executive Team, and resolved previous executive and board exits.

How it is doing

27 Feb 2023

Australis Capital Inc (CSE:AUSA, OTCQB:AUSAF), doing business as Audacious, announced that it has closed the sale of the ALPS assets by way of a definitive asset purchase agreement with CEAd Holdings Inc and affiliated parties, a group that includes ALPS president Thomas Larssen.

The cannabis medical services only (MSO) company said the purchasers will acquire all of the vendors' respective rights, title and interest in all of the assets, properties and rights in connection with the business of the vendors for a price of $6,251,400, consisting of $1 million in cash on the closing date, a secured promissory note in the amount of $4,277,572 bearing no interest for 90 days following the closing date and 7.5% per year thereafter, plus the assignment and assumption by the purchaser of certain accrued liabilities.

In addition to the purchase price, CEAd will provide a significant discount to market for the proposed New Jersey and New York cannabis facilities, which are subject to successful graduation of existing licences, according to the company.

“This is transformational for both companies,” Audacious CEO Terry Booth said in a statement.  

19 Dec 2022

Australis Capital Inc (CSE:AUSA, OTCQB:AUSAF), doing business as Audacious, said Derek Higgins will join the company as its CFO, replacing Jon Paul who has agreed to act in an advisory capacity during a transitionary period.

Higgins will be joining the company as a special advisor, effective immediately, and is expected to be appointed as CFO upon board approval, which is anticipated in early to mid-January.

10 Nov 2022

Australis Capital Inc (CSE:AUSA, OTCQB:AUSAF), doing business as Audacious, said it has now formally completed its submission to the New Jersey Cannabis Regulatory Commission (NJCRC) to convert its conditional licenses to Annual Adult Usage Cultivation and Manufacturing licenses. 

Once received, the annual licenses allow Audacious to grow, manufacture, sell, purchase and distribute adult-use cannabis from its Millville facility in New Jersey. 

What management says

16 Mar 2021

Australis Capital Corp (CSE: AUSA- ITC: AUSAF) CEO Terry Booth joined Steve Darling from Proactive with news the company has closed their 51% acquisition of ALPS, which is a global leader in facility design, construction management and (post) commissioning services to the horticultural sector.

Booth talks about the turning point for the company with this move as Australis now becomes a revenue-generating company.

Australis Capital completes 51% acquisition of ALPS

Australis Capital Corp (CSE: AUSA- ITC: AUSAF) CEO Terry Booth joined Steve Darling from Proactive with news the company has closed their 51% acquisition of ALPS, which is a global leader in facility design, construction management and (post) commissioning services to the horticultural...

on 03/16/2021