Australis Capital Inc., operating as Audacious Brands announced the acquisition of California-based cannabinoid infused drinks company LOOS. The company’s first product, a 2oz “shot” infused with 100mg of THC, is available in three flavors – Orange Crush Sativa, Green Dream Hybrid, and Lavender Indica. The products are vegan, gluten-free and low-sugar. LOOS plans to release a number of other products across several key categories, including CBD-infused shots. The LOOS founders will report to Chief Business Development Officer Leah S. Bailey.
“This is a significant step for our company as we not only expand our product line, but also our footprint into California, which is one of the most important cannabis markets in the world,” says AUSA CEO Terry Booth. “The LOOS founders have more than a decade of experience working with top companies including Plus Products, 710 Labs, Loudpack, and Flow Kana, and we look forward to leveraging their expertise as we continue to pursue our mission to be the most dynamic and inclusive cannabis products brand in North America. Teaming up with LOOS and the team behind it gives us a head start and adds another product and revenue-generating line to our portfolio.”
The CBD infused drinks market is anticipated to show significant growth in the coming years. Zenith Global estimates that the U.S. market will reach $1.4 billion by 2023, and market research firm Facts & Factors estimates that the global CBD infused beverages market will reach $14.6 billion by 2026.
“With LOOS we are adding a fresh and exciting brand and consumer segment with compelling products that offer a unique user experience,” Bailey says. Furthermore, with Ben Koppel and Anthony Bendana joining us, we are adding two aggressive, highly successful and commercially savvy people to our team, which will help us to build new distribution networks for all Audacious brands