Australis Capital Announces Acquisitions, Names Terry Booth CEO – THCnet

Terry Booth, the co-founder and ex-CEO of Canada’s Aurora Cannabis, has been tapped to lead Australis Capital (AUSA), a Las Vegas-based cannabis investment firm that was once owned by the Edmonton-based marijuana producer.

In a pair of news releases issued last week, Australis said it would wholly acquire Nevada-based Green Therapeutics — a cannabis company founded by former MedMen president and Australis interim CEO Duke Fu — and purchase a 51% stake in greenhouse design company ALPS, formerly known as Aurora Larseen Projects.

Australis will pay Green Therapeutics shareholders about $7.8 million in a cash-and-stock transaction that is expected to close during the first quarter of 2021.

“Folding the entire GT portfolio into AUSA will provide us with the firepower and networks to take our brands across the nation,” Fu said.

Meanwhile, Australis will spend $13.7 million in cash and stock for a 51% stake in ALPS, itself previously owned by Aurora.

“We anticipate that this transaction, upon its completion, will be game changing and immediately accretive, and marks the first and crucial step in the transformation of AUSA to become the Company it was always meant to be: a profitable and rapidly growing MSO,” said Fu.

Australis also agreed to make $24 million worth of milestone payments over six installments, beginning in 2022, if certain revenue and EBITDA targets are met, and secured an option to purchase the remaining 49% of the ALPS business for $14.3 million in cash or stock.

A condition of the transaction is that Booth, already an ALPS principal, be installed as CEO of Australis.

“Terry is a capital markets legend with the track record of building one of the preeminent companies in the cannabis industry,” said Fu. “He is driven by his passion for the medical benefits of cannabis and the right of adults to use

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