MjLink Cannabis Business News and Press

Australis Capital Inc (CSE:AUSA) (OTCMKTS:AUSAF) (FRA:AC4) provided an operations update on its pending acquisitions of Green Therapeutics LLC and ALPS, as part of its shift from an investment company into a US multi-state operator (MSO).   

Australis said Green Therapeutics (GT) saw a record 47% year-over-year increase in December sales, and recently reached an agreement to sell its land in North Las Vegas, which would result in AUSA receiving approximately US$1.95 million if the transaction is completed.

Meanwhile ALPS, through its wholly-owned subsidiary Larssen Greenhouse Consulting (LGC), has executed a number of contracts for the development of facilities for the cultivation of high-quality, low-cost crops such as fruits, vegetables and microgreens.

READ: Australis Capital unveils significant expansion moves with plans to acquire both Green Therapeutics and ALPS 

“The new board is rapidly changing AUSA from an ‘investment’ company into a multi-state operator with expected meaningful revenue growth, resulting in profitable operations,” Australis Capital CEO designate Terry Booth said in a statement.

Australis Capital (CSE: AUSA- OTC: AUSAF) new CEO Terry Booth joined Steve Darling from Proactive with news the company is planning to utilize a new strategy for the company as they look to capitalize on a number of opportunities.

Booth shared with Proactive what that strategy will be and how he plans on measuring performance and making sure they are accountable to shareholders.

PyroGenesis Canada Inc () (OTCQB:NYRNF) CEO Peter Pascali will present at the SNN Network Canada virtual event on Thursday January 7 at 10:30am ET. To access the live presentation, viewers may visit https://www.webcaster4.com/Webcast/Page/2059/39297. Investors may also book one on one meetings with Pascali by registering at https://canada.snn.network/signup.

has published a two-part management series on (NASDAQ: BLNK), which focuses on the company’s key drivers, milestones, obstacles and opportunities, and industry megatrends featuring Blink’s CEO Michael Farkas. Water Tower Research’s management series covers key catalysts and milestones that investors should monitor, including network expansion opportunities through joint ventures (JVs) and long-term partnership agreements, additional charger deployments with Envoy Technologies, and additional geographic expansion.

() (OTCQB:VLMGF) announced Wednesday it has entered into an exploration earn-in agreement with a wholly owned subsidiary of Centerra Gold Inc (). Centerra is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold properties in North America, Asia and other markets worldwide and is one of the largest Western-based gold producers in Central Asia. Viscount said the agreement covers the company's Cherry Creek property located in White Pine County, Nevada. Initially, Viscount will be the project manager. The Cherry Creek project is located in northeastern Nevada some 50 miles north of Ely, consisting of 320 unpatented and patented claims covering more than 2,658 hectares. The property contains more than 20 past-producing mines where high-grade gold and silver production came from up to the 1920s.

True Leaf Brands Inc () (OTCPINK:TRLFD) (FRA:TLA) is proposing a non-brokered private placement offering to raise gross proceeds of not less than C$150,000 up to C$1 million. Under the terms, the company will offer for sale a minimum of 416,667 common shares up to a maximum of 2,777,778 common shares at C$0.36 per share. The offering may close in one or more tranches on or before January 31. The company anticipates utilizing the net proceeds of the placement for working capital and general corporate purposes.

Wellness Inc (), a leading US health and wellness CBD company, announced that it has completed its initial public offering (IPO) to raise US$17 million and has started trading on the big board in Toronto. The company rounded out its US$17 million IPO by offering 7 million shares at a price of US$1.00 per share to raise gross proceeds of US$7 million and 10,000,000 units at the offering price per unit for gross proceeds of US$10 million. “The additional US$17 million in capital adds to our healthy treasury, providing us with a solid foundation to build from and execute on our strategic plans for 2021 and beyond," HempFusion Wellness co-founder and CEO Dr Jason Mitchell said in a statement.

() announced Wednesday that it has secured base-load orders for the production of raw materials servicing the infrastructure marketplace at its Perry County Resources (PCR) mining complex. The Fishers, Indiana-based company has previously announced that its contractor has commenced production at the restructured PCR complex under its streamlined, low-cost operating model. American Resources said the secured commitments and contracts are for product that will be delivered to one of the largest steel companies in the world, as well as specialty alloy metal producers and industrial companies domestically and abroad.

Inc () announced Wednesday that it is about to make history. Based on its preliminary internal financial reporting for the fourth quarter of 2020, the Utah-based company said its unaudited quarterly revenue is anticipated to be the highest in its history and to surpass analyst estimates ranging from $24 million to $25.98 million. Co-Diagnostics said revenue for its 4Q, which ended December 31, is expected to exceed the highest estimate and to show 20%-25% growth over 3Q 2020 revenue of $21.82 million.

() provided its outlook for 2021, in which the company is aiming to commercialize its fully-compostable, plant-based capsules for use in Keurig Brewing Systems in the first half of the year. NEXE also said it is targeting the launch of its coffee capsules for use in Nespresso "original line" brewing systems by the second half of 2021.

. () () unveiled significant expansion moves after the market close on Tuesday, announcing plans to acquire both Green Therapeutics LLC and 2750176 Ontario Inc., known as ALPS, and getting a new CEO in the process. Green Therapeutics is an award-winning, Nevada-based cannabis company with a strong brand portfolio of high-end dried flower and designer/luxury derivative products; ALPS is a global leader in facility design, construction management and (post) commissioning services to the horticultural sector. Terry Booth, currently a principal of ALPS, will become CEO of Australis at closing, taking over from Dr Duke Fu, who has been serving as Interim CEO since November 17, 2020.

(NYSEAMERICAN:AIM) (FRA:HXB2) has announced Wednesday that the active AMP-511 Expanded Access Program (EAP) has dosed its first coronavirus (COVID-19) “Long Hauler” patient with the drug Ampligen (rintatolimod). The company said the initial dosing marks a significant milestone in its efforts to develop an effective therapeutic for people suffering from post-COVID-19 infection chronic fatigue-like symptoms. Additional patients are in the process of being enrolled. 

() (OTCPINK:MWSNF) (FRA:MXR) has reported more encouraging drill results from its Sunday Creek project in Victoria, Australia, which show the potential for a widespread, gold-rich system. The latest assays come from two holes at the property, which lies in the famous Victorian Goldfields of Australia, and where ten holes have now been completed for 1,504 metres (m). Drilling will continue at the property from early this month. 

African Gold Group Inc () (OTCMKTS:AGGFF) (FRA:3A61) told investors it was on track to release an updated mineral resource for its flagship Kobada gold project in Mali early this year as the company released another round of positive drill assays and said it had extended drilling. So far, the company has sunk 6,258 metres of combined diamond drilling and reverse circulation drilling, with results continuing to show deeper than anticipated extensions of the orebody as well as additional mineralized zones outside the known ore zones.

. () () (FRA:AC4) unveiled significant expansion moves after the market close on Tuesday, announcing plans to acquire both Green Therapeutics LLC and 2750176 Ontario Inc., known as ALPS, and getting a new CEO in the process. 

The company said it has entered into a non-binding term sheet dated January 4, 2020, with Green Therapeutics (GT) and the holders of the issued and outstanding membership interests of GT, setting forth the terms of a proposed transaction pursuant to which Australis will purchase 100% of the issued and outstanding membership interests in GT. 

Australis will pay to the holders of the GT, membership interests between C$9.5 million and C$10 million for 100% of the outstanding GT membership interests. 

READ: Australis taps cannabis finance veteran Jon Paul to CFO role, offers corporate update amid leadership transition

Prior to completing the acquisition, the group added, the parties have agreed to settle a previously announced legal dispute regarding the original May 2019 transaction, when Australis had acquired certain non-operational GT assets.

() (OTC:AUSAF) announced Wednesday that it has named cannabis and consumer goods veteran appointed Jon Paul its new CFO, effective January 1.

Paul was previously CFO at PLUS Products, a CSE-listed hemp and cannabis edibles company with operations in California and Nevada. He oversaw the company's IPO and was a key member of the team responsible for its 15-fold increase in revenue. 

Over his more than 40-year career, Paul has held several senior financial roles at public and private companies in the cannabis, consumer goods, wireless telecom and generic pharmaceutical industries.

READ: Australis Capital says new board of directors is ready to get to work optimizing cannabis assets

"Jon comes to us with a stellar track record in driving business performance across various sectors, including the US cannabis industry," Jason Dyck, chairperson of AUSA's compensation and nominating committee, said in a statement. "With his broad experience across multiple financial disciplines, including financial reporting, M&A, capital markets, corporate financial efficiency and operations, he is the ideal candidate to take on this key role as AUSA executes on its aggressive growth strategy. I look forward to working closely with Jon as we take AUSA to the next level."

() () said Monday its new board is ready to get to work on putting the cannabis company on a path to profitability.

The US-focused firm said the board is getting started on a number of strategy initiatives laid out by shareholders in its recent AGM, beginning with optimizing the value of its current asset portfolio that includes Cocoon, , Green Therapeutics LLC, Quality Green, Folium Biosciences, and land assets in Washington state.

Board members are also engaged in “high level” negotiations with other leading cannabis companies, the group said in a statement. The team added it believes that recent US federal and state developments will take the industry “to a new level” in the country.

READ: Australis Capital appoints cannabis industry veteran Sameer Kumar as independent director

Interim CEO Duke Fu thanked shareholders for their support throughout a turbulent few months for the company.

Australis Capital (CSE: AUSA- OTC: AUSAF) CEO Harry DeMott joined Steve Darling from Proactive to bring news that a leading independent international corporate governance analysis and proxy advisory firm, has recommended that Australis shareholders vote with current management at the upcoming Annual General and Special Meeting of Shareholders.

DeMott tells Proactive the firm noted that the board has taken steps to refresh itself, as “the management slate includes two recently appointed independent directors with skills and expertise that could be beneficial to Australis”

(CSE: AUSA-OTC: AUSAF) CEO Harry DeMott joined Steve Darling from Proactive to share details about a letter he sent to current shareholders addressing some of the things a group of dissident shareholders have said about management and the company.

DeMott also told Proactive about his vision for the company as they look to the future following the proxy vote.

() (OTC:AUSAF) has found a new head man, the company announced Monday, in cannabis and entertainment industry veteran Harry DeMott.

DeMott is a founder and managing partner of Hamerle Investments, which targets cannabis, music and entertainment companies. He also co-founded the investment firm Raptor Ventures I LP, where he has been a general partner since 2011. 

He was also a founding investor of Columbia Care Inc (CSE:CCHW) (OTCQX:CCHWF), a multi-state cannabis operator, and previously served on the board of Pandora Inc from 2006 through its initial public offer (IPO) in 2011. All told, DeMott brings some 30 years of experience in the US investment community.  

READ: Australis Capital appoints cannabis industry veteran Sameer Kumar as independent director

"I am excited to take the reins at Australis during this unprecedented time of opportunity in the US cannabis business," DeMott said in a statement. "Having witnessed the opportunities firsthand as an investor and operator in the space, I truly believe that the time to invest in and build branded cannabis assets is now.”

() () has named cannabis industry veteran Sameer Kumar as an independent director.

Sameer was the former president and chief operating officer (COO) of VIOLA Brands, a lifestyle-based cannabis management services organization (MSO), which was founded by former NBA player Al Harrington.

READ: Australis Capital says CocoonPod self-service kiosks launched at first of eight THRIVE Cannabis Marketplace locations

Sameer expanded the brand into five markets, drove operational and sales efficiencies, which led to a doubling of production, a double-digit increase in sales and an expansion of margins, propelling VIOLA to become one of the largest live resin concentrate brands in Colorado and Oregon, by market share, highlighted Australis.

"AUSA continues to take decisive action to position the company for growth," said director Harry DeMott in a statement, adding that Sameer brought valuable external skills and perspectives.

"On behalf of AUSA and the other directors, I welcome Sameer and look forward to working with him as the company breaks with its recent past, focuses on the US cannabis market, and moves along the path to value creation," he said.

() () revealed on Thursday that its subsidiary Cocoon Technology has installed its CocoonPod self-service kiosks at the first of eight locations operated by one of Nevada’s largest cannabis retailers, THRIVE Cannabis Marketplace.

Cocoon Technology LLC, which manufactures consumer-facing kiosks as stand-alone units or multi-unit pods for consumers has put up the CocoonPod kiosks at THRIVE’s dispensary location on 2755 W Cheyenne Avenue, in North Las Vegas.

Las Vegas-based Australis Capital which was spun out from cannabis behemoth Aurora Cannabis Inc (TSE:ACB) (NYSE:ACB) in September 2018 as its US investment vehicle, said the launch is a “positive step” towards the company's continued commitment to its US-focused cannabis operations. Installations at the remaining seven locations are anticipated in the coming months, said the company.

READ: Australis Capital reaches settlement with Passport Technology, reveals departure of executive chairman Scott Dowty

() () announced that it has reached a settlement agreement with Passport Technology Inc regarding the termination of its previously announced acquisition agreement.

Las Vegas-based Australis Capital also revealed that the company’s executive chairman Scott Dowty would be stepping down from the board.  

READ: Australis Capital announces the termination by Passport Technology of pending acquisition agreement

Australis first announced on June 25 that it planned to acquire Passport Technology, which partners with casino operators to deliver funds to the casino floor through cash and cashless payment portals. Passport is in 72 casinos with 124 unattended kiosks in five countries. 

() (OTC:AUSAF) has scheduled its annual general and special meeting of shareholders for November 17, the company announced Thursday. 

The company postponed the meeting after Passport Technology Inc, a casino fintech company that Australis has agreed to acquire, terminated the acquisition deal. In response, dissident shareholders submitted nominations to elect six new people to the board of directors, the company said.

Postponing the meeting gives the company and its shareholders time to process these recent events.

READ: Australis Capital announces the termination by Passport Technology of pending acquisition agreement

“Against the backdrop of a small group of dissident shareholders intent on leveraging the current challenges AUSA faces to take over the entire company, the board of directors is putting the interests of shareholders first by methodically charting the company's course for the foreseeable future,” Australis wrote in a statement. 

() () announced on Tuesday that Passport Technology Inc has informed it that the company has terminated a previously announced acquisition agreement.

“The terms of the acquisition agreement require Passport to pay a break fee and the company's demonstrated expenses,” Australis Capital said in a statement.

On June 25, Las Vegas-based Australis first announced that it planned to acquire Passport Technology, which partners with casino operators to increase gaming revenue by delivering funds to the casino floor through cash and cashless payment portals. Passport is in 72 physical casinos with 124 unattended kiosks throughout five countries.

Passport would have complemented Australis’ existing fintech assets – Cocoon Technology and Paytron – to leverage purpose-built technology for highly regulated industries with a growing need for unattended kiosk solutions with a global market expected to surpass $46 billion by 2026. 

Australis Capital Corp () () noted that its pending acquisition Passport Technology has launched its cashless solutions at two new Alberta-based casinos.

Passport will launch its ACM Owl solutions at Cash Casino Calgary and Cash Casino Red Deer. The firm also said it is debuting its POSpod kiosks, which are custom-built with unique features designed for the demands of the high-traffic casino environment. The POSpod line of self-service kiosks includes freestanding, countertop and new mobile cashier enhancements.

READ: Australis Capital to acquire casino payment platform Passport Technology, leveraging fintech assets globally

Passport’s ACM Owl technology provides ATM services that combine transaction speed, maximum throughput and local support within the kiosk. The firm’s CashValet PCI-DSS Level 1, P2PE-certified solution, and cloud-based application allows for immediate and maximum approval amounts and supports real-time reporting of the transaction cycle.

Casino guests also get dynamic fee structures, free play credits, self-exclusion options, and numerous security and regulatory compliance features.

() () said it had amended some of the terms of its planned acquisition of Passport Technology Inc.

The move is designed to reflect 16 additional contracts that Passport has signed since Australis announced the acquisition in June.

As a result of the new contracts with Gateway Casinos in British Columbia and Alberta, Passport revised its revenue forecast to $12 million in 2021 and operating income of $4 million.

READ: Australis Capital to acquire casino payment platform Passport Technology, leveraging fintech assets globally

The new terms stipulate that Passport will receive $2 million in Australis and shares if it achieves over $8.5 million in revenue in 2021 and an additional $2 million in shares of both companies if revenue surpasses $9.5 million the same year, as well as 25% of revenue if Passport’s EBITDA, or earnings before interest, taxes, depreciation, and amortization is over $3 million.

() () has acquired 2.9 million shares in US multi-state operator (), the group said in a release on Friday.

The Vancouver-based company acquired the shares through the conversion of unsecured debentures valued at $1.6 million at a price of C$0.55 per share.

Australis converted the debentures on July 1, 2020, as part of a July 2019 conversion agreement. The debentures were acquired in a private placement from November 2018.

READ: Australis Capital pleased with shareholder response to pending Passport Technology acquisition

In consideration for the conversion agreement, Body and Mind paid Australis $148,339.72 as an advanced payment of interest payable under the debentures for the period beginning November 2, 2018, and ending July 1, 2020.