Focused on building companies through early-stage, opportunistic, and diversified investments in cannabis space Spun off from Aurora Cannabis in late 2018 Terry Booth, who helped build Aurora, slated to become CEO of Australis What Australis Capital does:
The Nevada-based company’s business and assets include investments in Cocoon Technology LLC, Body and Mind Inc, 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.
As a condition to the completion of the proposed transaction, Terry Booth, currently a principal of ALPS, will become CEO of Australis at closing. He will take over from Dr Duke Fu, who has been serving as Interim CEO since November 2020. At such time, Dr Fu will take on the role of COO of the company, focusing on driving organic growth.
Booth built Aurora Cannabis from a late starter to a