Australis Capital Inc. (CSE: AUSA) (OTC: AUSAF) today announced that, further to the Company’s press releases of January 5, 2021 , and March 12, 2021 , it has completed the first stage of the transaction to acquire Green Therapeutics LLC.
The transaction is being completed in two parts, the first, which has now closed, being the acquisition of a subsidiary of GT containing a number of unregulated assets including the GT brands and certain ancillary agreements including brand licensing and management agreements. Subsequently, subject to regulatory approval, the Company will complete the acquisition of GT itself. In conjunction with the completion of the acquisition of the Subsidiary, the parties have settled a previously announced legal dispute.
Completion of the transaction marks the Company’s entry into the U.S. cannabis space as an operator, transitioning away from its previously identity as an investor. Management believes that by being an active industry participant, executing on its novel expansion strategy, AUSA will be able to significantly accelerate growth, become a highly competitive leader in the sector and deliver outsized shareholder value, in line with the promise made to shareholders by the new leadership team.
GT is an award-winning, Nevada -based cannabis company with a strong brand portfolio of high-end dried flower and designer/luxury derivative products. The team’s extensive cannabis cultivation skill and operational medical experience ensures high quality products, safety and a consistent user experience. GT currently operates three brands:
Tsunami: For the aficionado with discerning tastes looking to experience the best, Tsunami’s team of world-class extraction artists combines exotic strains with high-quality processes to deliver products unmatched in potency, quality, and flavor. Provisions The Provisions line of products is distilled from high-quality extracts, free from undesirable contaminants, packed with long lasting flavors, and