MjLink Cannabis Business News and Press
The deal is Audacious’s first entry into the CBD beverages category, which is estimated to reach $14.6 billion globally by 2026
Australis Capital Inc (CSE:AUSA) (OTCMKTS:AUSAF), which is doing business as Audacious, has announced that it is acquiring California cannabinoid beverages and edibles firm Gary Maverick Inc, which operates as LOOS, in an all-stock deal.
It is Las Vegas-based Audacious’s first entry into the CBD beverages category, which is estimated to reach nearly $1.4 billion in value in the US by 2023, and $14.6 billion globally by 2026.
LOOS sells a two-ounce drink (or shot) infused with 100mg of THC, in three flavors: Orange Crush Sativa, Green Dream Hybrid, and Lavender Indica. It also plans to release a number of other products across several key categories, including CBD-infused shots, shortly, according to Audacious.
READ: Australis Capital says Audacious Brands gets foothold in Massachusetts market in partnership with Belle Fleur and Rapper Weed
As part of the acquisition, LOOS founders Anthony Bendana and Ben Koppel will join Audacious in executive roles.
The supply agreement will enable Audacious Brands to continue to expand its MSO footprint, which now includes Nevada, Arizona, Oklahoma, Missouri, Washington, and Massachusetts
Australis Capital Inc. (CSE:AUSA) (OTCMKTS:AUSAF) has announced a supply agreement and, through its majority-owned subsidiary ALPS, a facility engineering and design services contract with Belle Fleur Holdings LLC.
The Nevada-based company, which now operates under the name Audacious Brands, said under the supply agreement Belle Fleur will dedicate a certain percentage of its canopy space for the cultivation of its proprietary cultivars under a cost-plus 5% agreement. The companies have agreed to jointly explore opportunities for brand collaboration and further expansion in the US.
READ: Australis Capital to change name to Audacious Brand and finalizes land purchase in Nevada
The supply agreement will enable Audacious Brands to continue to expand its multi-state operator (MSO) footprint, which now includes Nevada, Arizona, Oklahoma, Missouri, Washington, and Massachusetts. It anticipates entering additional US markets within the next few weeks.
The Nevada-based company will focus on its US adult market operations and will feature additional product lines under the new name
Australis Capital Inc (CSE:AUSA) (OTCMKTS:AUSAF) (FRA:AC4) said going forward, it will operate under the name Audacious Brand and will consolidate its product line under the Audacious banner.
The Nevada-based company will focus on its US adult market operations and will feature additional product lines under the new name.
Audacious Brand will continue to trade on the Canadian Securities Exchange and the OTC market under the same ticker symbols, AUSA and AUSAF, respectively.
READ: Australis Capital touts new study that shows medical cannabis can reduce opioid use, the progress of its subsidiaries and more in corporate update
A full brand rollout and launch is planned in the months ahead.
() () aims to build companies through early-stage, opportunistic, and diversified investments in the cannabis value chain in the US and abroad.
The Nevada-based company’s business and assets include investments in Cocoon Technology LLC, , Green Therapeutics LLC, Quality Green, Folium Biosciences, and land assets in Washington state and Michigan.
Australis was spun out from cannabis behemoth Aurora Cannabis Inc (TSE:ACB) (NYSE:ACB) in September 2018 as its US investment vehicle. Aurora is not allowed to invest in US cannabis assets due to Toronto Stock Exchange and NYSE listing rules. Australis is therefore Aurora’s arm to establish a foothold in the US, before a potential US federal legalization shift.
As part of the new strategy to scale up its award-winning brands across the US and global cannabis markets, the company has acquired a 51% interest in cash-flow-healthy ALPS - the world’s premier design, construction management, commissioning, and post-commissioning consultancy for horticultural crops such as cannabis.
Australis has also gone through the process of acquiring a 100% interest of the outstanding membership interest in Nevada-based cannabis cultivator Green Therapeutics.
Researchers found a strong correlation between reduced opioid use by heavy consumers and the adoption of medical cannabis in pain management regimes
Australis Capital Inc (CSE:AUSA) (OTC:AUSAF) issued a corporate update, highlighting a groundbreaking University of Alberta study medical cannabis study, a new chairman, Green Therapeutics' work in Nevada, among other news.
The objective of the study was to assess the effect of medical cannabis authorization on opioid use between 2013 and 2018 in Alberta, and researchers found a strong correlation between reduced opioid use by heavy consumers and the adoption of medical cannabis in pain management regimes.
"The findings of this study are profound in that they provide more information to physicians who are seeking to help patients reduce their dependency on opioids for pain management,” Chief Science Officer and study co-author Jason Dyck said in a statement. “This work may assist with helping clinicians combat the opioid crisis that is ongoing in our society."
READ: Australis Capital unveils new chief business development officer
The study was conducted on the largest global population of federally legal medical cannabis patients, whose medical cannabis and opioid use were tracked.
Leah S Bailey will be joining the company to drive commercial initiatives and provide leadership to its corporate development team
() () (FRA:AC4) said it has appointed Leah S Bailey as its chief business development officer to drive commercial initiatives and provide leadership to the company's corporate development team.
The cannabis group said with Bailey’s appointment, it is adding “a proven leader with a strong track record in driving revenues and profitability in both the cannabis and consumer packaged goods (CPG) sectors”.
READ: Australis Capital issues corporate update highlighting strong FY2021 revenue thanks to ALPS, plus New York legalization hopes
Before joining Australis, Bailey served as chief executive of Fluresh, a US vertically integrated cannabis company based in Michigan, where she built the operation and organization from a start-up to become one of the top cannabis businesses in the state.
Bailey also holds several directorships with companies such as well-known medical cannabis science group Tikun Olam USA and Scott's Liquid Gold, as well as serving as an operating partner for a social equity applicant for craft grow in Illinois.
Following the legalization of recreational adult-use cannabis in New York, Australis said it is in discussions with a number of potential partners to enter a market expected to capture $1.2 billion in sales by 2023
() (OTC:AUSAF) has released a corporate update, revealing that its revenue for the fiscal year ended March 31, 2021, is expected to have doubled year-over-year, as well as highlighting a batch of other recent news developments.
A big reason for that, according to Australis’s CFO on Jon Paul, is the company's 51% stake in commercial crops facility management firm 2750176 Ontario Inc (ALPS), even though the deal was closed less than a month before the fiscal year ended.
"Despite ALPS only contributing approximately 3 weeks to our year-end, AUSA's revenues are anticipated to more than double for the entire fiscal year ended March 31, 2021,” Paul said in the update. “With an array of current projects in progress and an expanding pipeline of new projects anticipated to be signed, the impact of ALPS on the first quarter of our fiscal 2022 will be even greater.”
READ: Australis finds its first chief science officer in University of Alberta lead cardiologist Jason Dyck
“Meanwhile," the CFO added, "we expect the sale of a land asset held through our other acquisition, Green Therapeutics, to close shortly, which will add approximately C$2.5 million in cash to our working capital position. With the anticipated growth at ALPS and GT, as well as other liquid assets held, AUSA is in robust shape financially for its current level of operations."
The firm said the collaboration will result in expanded capacity and product lines at Copperstate’s facilities to service growing Arizona cannabis demand
Australis Capital Inc (CSE:AUSA) (OTCMKTS:AUSAF) (FRA:AC4) announced that through its majority-owned subsidiary ALPS, it has struck an agreement with Arizona's largest cannabis wholesaler, Copperstate Farms Management LLC for expanded capacity and expanded product lines.
Copperstate Farms operates a 40-acre, 1.7 million-square-foot greenhouse in Snowflake, Arizona, cultivating medical and adult-use cannabis. The contract with ALPS will have an initial term of two years and is expected to consist of two phases. “Total contract value over two years is anticipated to be up to $6 million,” said the company.
During the first phase of the expansion, Copperstate has contracted ALPS to implement “a full technology and workflow upgrade” of its facility with industrial greenhouse management solutions, cultivation practices, compliance upgrades and computerized maintenance management services through the firm's APIS offering. This is expected to boost yield and product quality, enabling Copperstate to meet growing demand in the Arizona market, said the company.
READ: Australis Capital completes first phase of Green Therapeutics acquisition with cannabis subsidiary purchase
Phase 1 will also include engineering support for the construction of a world-class processing and manufacturing facility operated by Copperstate Farms in Tempe, Arizona. This facility is in the same building as the Sol Flower dispensary, noted the company. As part of the contract, ALPS will support Copperstate Farms in achieving GMP compliance for the facility.
Dyck has a wealth of experience leading cannabis-related medical research and has deep connections and a high standing throughout the industry, the company said
() (OTC:AUSAF) (FRA:AC4) has appointed Jason Dyck, director of the Cardiovascular Research Centre at the University of Alberta, as its new chief science officer and chairman of its scientific advisory board, the company announced.
Dyck has a wealth of experience leading cannabis-related medical research and has deep connections and high standing in the industry, the company said. He previously led the research and science team at Aurora Cannabis Inc (NYSE:ACB) (TSE:ACB) (FRA:21P1) in its formative years, playing a significant role in helping it become the medical cannabis industry leader that it is today, Australis said.
The company’s appointments strategy is to leverage the roots of its management team in medical cannabis, while developing offerings and partnerships aimed at the medical and wellness markets.
READ: Australis Capital completes first phase of Green Therapeutics acquisition with cannabis subsidiary purchase
Dyck also established and co-directs a province-wide clinical heart failure research program called Alberta HEART that is a translational research program in heart failure.
GT is an award-winning, Nevada-based cannabis company with a strong brand portfolio of high-end dried flower and luxury derivative products
Australis Capital Inc (CSE:AUSA) (OTC:AUSAF) (FRA:AC4) announced Wednesday that it has completed the first stage of its previously announced acquisition of Nevada cannabis company Green Therapeutics LLC (GT), by purchasing one of its subsidiaries.
The subsidiary contains a number of unregulated assets, including the GT brands and certain ancillary agreements such as brand licensing and management agreements. Subsequently, the company will complete the acquisition of GT itself. In total, Australis will pay to the holders of the GT membership interests between C$8 million and C$10 million for 100% of the outstanding membership interests of both GT and the subsidiary.
GT is an award-winning, Nevada-based cannabis company with a strong brand portfolio of high-end dried flower and luxury derivative products. GT was co-founded by former MedMen president — and current Australis COO — Duke Fu and is led by a strong team of medical professionals and pharmaceutical manufacturing experts.
READ: Australis Capital finalizes definitive agreement to acquire cannabis company Green Therapeutics
"We continue to execute at a high pace and will be accelerating our growth, now that the first stage of the GT transaction is closed," CEO Terry Booth said in a statement. "... the GT team brings productive and valuable cannabis operations and assets, very deep connections in the Nevada cannabis industry and elsewhere, and access to a host of potential partnerships and transactions. The credibility that GT has built in the Nevada market and beyond is of great value as we continue to build a new type of [multi-state operator]. Leveraging our majority ownership of ALPS creates other unique opportunities to scale the GT brands and positions us exceptionally well to capitalize on the enormous opportunity in the US cannabis space."
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.
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GT is an award-winning, Nevada-based cannabis company with a strong brand portfolio of high-end dried flower and luxury derivative products
() () (FRA:AC4) said Friday it had executed a definitive agreement to acquire Nevada-based cannabis company Green Therapeutics LLC.
GT is an award-winning, Nevada-based cannabis company with a strong brand portfolio of high-end dried flower and luxury derivative products. GT was co-founded by former MedMen president – and current Australis COO - Duke Fu and is led by a strong team of medical professionals and pharmaceutical manufacturing experts.
The company operates an 8,000 square foot facility in Nevada and its brands are carried by 52% of Nevada-based dispensaries, with further market penetration expected as production capacity is expanded. GT also has a manufacturing license in Oklahoma and a 25% interest in an extraction and processing license in Missouri.
READ: Australis Capital unveils significant expansion moves with plans to acquire both Green Therapeutics and ALPS
Australis said the transaction, once completed, will be immediately accretive to its results as the current Nevada assets - which are the subject of the settled legal dispute - are non-operational. It is anticipated that GT's brands will be scaled up across multiple US jurisdictions.
All told, the final price tag for ALPS could be between C$13.7 million and nearly C$26 million, and Australis also holds an option to acquire the remaining 49% of ALPS
() () (FRA:AC4) announced Tuesday it has completed the acquisition of a 51% ownership interest in 2750176 Ontario Inc (ALPS).
In addition, Australis as expected named Terry Booth - an ALPS principal and former CEO of Aurora Cannabis Inc (NYSE:ACB) - as its new CEO.
Under the deal, as an initial consideration, Australis will spend C$10 million in company shares and C$2 million in cash. All told, the final price tag could be between C$13.7 million and nearly C$26 million. Australis also holds an option to acquire the remaining 49% of ALPS over three years.
READ: Australis Capital teams up with 3 Rivers Biotech to offer plant tissue culture to growers
CEO Booth also has been appointed to Australis' board of directors. He takes over from Dr Duke Fu, who has been serving as the company's Interim CEO since November 2020. Dr Fu has been appointed COO and will remain on the board while Thomas Larssen, founder of ALPS, will remain as president of ALPS.
The two companies will work together to jointly market the 3 Rivers offering to growers and eventually provide access to other commercial-ready solutions in pest control, pathogen testing and genetic fingerprinting
Australis Capital Inc (CSE:AUSA) (OTCMKTS:AUSAF) (FRA:AC4) is teaming up with agricultural technology company 3 Rivers Biotech Inc on a tissue culture joint venture, the company announced Wednesday.
3 Rivers specializes in commercial-scale micropropagation, or plant tissue culture (PTC), for cannabis, hemp and traditional crops.
The two companies will work together to jointly market the 3 Rivers offering to growers and eventually provide access to other commercial-ready solutions in pest control, pathogen testing and genetic fingerprinting.
READ: Australis Capital buys 51% stake in cannabis facility design/construction company ALPS
Under the terms of the partnership, Australis will own 15% and 3 Rivers will own 85% of the joint venture. 3 Rivers will provide access to its intellectual property and services, products and solutions to Australis-sourced clients through the joint venture.
The company's 3Q results were impacted by a number of non-cash impairment charges against legacy assets and operations that do not feature heavily in its future trajectory
() () (FRA:AC4) reported its third quarter 2021 results on Monday evening that saw the company end a transformational period with $7.6 million in cash.
Revenue for the quarter came in at $90,000, consisting of consulting fees from BAMM and technology revenue from its Cocoon business, both legacy businesses that do not feature heavily in the Las Vegas-based company’s future plans.
In a statement accompanying the results, the cannabis company said it was “positioned for rapid growth” following the closing of two major transactions to acquire cultivation facility construction firm ALPS and Green Therapeutics, a Nevada-based cannabis company.
READ: Australis Capital buys 51% stake in cannabis facility design/construction company ALPS
Australis plans to leverage an ALPS-driven expansion model to scale up the Green Therapeutics brands throughout the US after both deals close by the end of March.
Since its management buyout from Aurora Cannabis in May 2020, ALPS has built a blue-chip roster of global customers and a growing pipeline of potential new deals
Australis Capital Inc (CSE:AUSA) (OTCMKTS:AUSAF) (FRA:AC4) has reached a definitive agreement to acquire 51% of the issued and outstanding shares of cannabis facility design company ALPS, the company announced Wednesday.
Australis will pay between C$13.7 million and nearly C$26 million in total consideration, the company said. Initially, the company will pay C$10 million in either common shares at a price of C$0.20, cash, or a mixture of both. An additional C$2 million will be paid once the deal closes, and a C$1.7 million indemnity holdback to follow after 18 months.
The agreement also has an option for Australis to acquire the remaining 49% within three years. If sufficient milestone payments are made (the maximum milestone payment is $24 million in three installments if ALPS hits cumulative revenues of C$108.7 million and EBITDA of C$48.9 million), the payments will count in part toward that option.
READ: Australis Capital says nearing completion of its acquisitions of ALPS and Green Therapeutics
Since its management buyout from Aurora Cannabis in May 2020, ALPS has built a blue-chip roster of global customers and a growing pipeline of potential new deals, the company said. ALPS is currently executing on a number of contracts, including Aurora, Cann Group, Vertical Harvest and Aldershot Greenhouses.
() () aims to build companies through early-stage, opportunistic, and diversified investments in the cannabis value chain in the US and abroad.
The Nevada-based company’s business and assets include investments in Cocoon Technology LLC, , Green Therapeutics LLC, Quality Green, Folium Biosciences, and land assets in Washington state and Michigan.
Australis was spun out from cannabis behemoth Aurora Cannabis Inc (TSE:ACB) (NYSE:ACB) in September 2018 as its US investment vehicle. Aurora is not allowed to invest in US cannabis assets due to Toronto Stock Exchange and NYSE listing rules. Australis is therefore Aurora’s arm to establish a foothold in the US, before a potential US federal legalization shift.
As part of the new strategy to scale up its award-winning brands across the US and global cannabis markets, the company is seeking a 51% interest in cash-flow-healthy ALPS - the world’s premier design, construction management, commissioning, and post-commissioning consultancy for horticultural crops such as cannabis. Australis is also seeking 100% acquisition of the outstanding membership interest in Nevada-based cannabis cultivator Green Therapeutics (GT).
But the ALPS acquisition - expected to close in late February 2021 - is central to the company’s new growth blueprint.
The company is seeking a 51% interest in ALPS and the 100% acquisition of the outstanding membership interest in Green Therapeutics
() () said Tuesday it is progressing well towards the completion of its proposed acquisitions of ALPS and Green Therapeutics LLC (GT).
Australis is seeking a 51% interest in ALPS and the 100% acquisition of the outstanding membership interest in Green Therapeutics, which includes the discontinuation of all previous litigation with Green Therapeutics.
“As per the Company's commitment to keep our shareholders fully informed and apprised, we are expecting to enter into definitive agreements with ALPS in short order,” the Nevada-based company said in a statement.
READ: Australis Capital acquiree ALPS inks deal to build a high-tech California greenhouse
Australis said the greenhouse facility is expected to save up to 90% on water use and 90% on labour compared to a traditional farm
() () (FRA:AC4) reported that ALPS, a company in which Australis is in the process of acquiring, has entered into an agreement with Bluehouse Greenhouse (BHGH) for the development of a 62 acre (2.7 million square foot), high-tech, fully integrated greenhouse for the sustainable production of vegetables in California.
Australis said the greenhouse facility, which will be developed by ALPS’ wholly-owned subsidiary Larssen Greenhouse Consulting (LGC), is expected to save up to 90% on water use and 90% on labour while growing 48 million pounds of produce on a footprint 1/30th the size of a traditional farm.
“With this sizeable $1.9 million project, ALPS continues to capitalize on opportunities and grow revenues at a rapid pace,” AUSA Interim CEO Dr. Duke Fu said in a statement.
READ: Australis Capital unveils significant expansion moves with plans to acquire both Green Therapeutics and ALPS
He added: “Conversion of ALPS's substantial business development pipeline in both the cannabis and traditional horticulture sectors will provide AUSA, once the acquisition is completed, with cash flow to further fuel the execution of its capital-light expansion strategy.”
The agreement for the 363,000 square foot facility includes the installation of a computerized compliance and maintenance management system, APIS
() () (FRA:AC4) announced Tuesday its acquisition target ALPS inked an agreement with Cann Group Limited to deliver end-to-end design, construction and commissioning services for the latter’s planned Australian greenhouse.
The $2.5 million agreement for the 363,000 square foot facility includes the installation of a computerized compliance and maintenance management system, APIS, and an ongoing service contract, the company said in a statement.
ALPS is a leading design, construction management, commissioning and post commissioning consultancy company for horticultural crops. The company has been involved in cannabis projects across the globe with a total grow area in excess of 340 acres for a total cultivation capacity of around 2,000,000 kilograms of cannabis per year.
READ: Australis Capital unveils significant expansion moves with plans to acquire both Green Therapeutics and ALPS
"This is a significant contract for us in terms of size, and acknowledges the respect ALPS has garnered in the global cannabis space,” ALPS president Thomas Larssen said in a statement accompanying the news.
