Further Innovation and Execution at ALPS and GT
Clearview Capital Consult Appointed for IR
LAS VEGAS, Feb. 9, 2021 /PRNewswire/ – Australis Capital Inc. (CSE: AUSA) (OTC: AUSAF) (“AUSA” or the “Company”) today announced that the Company is progressing well towards completion of the previously announced proposed acquisitions of ALPS and Green Therapeutics LLC (“GT”).
The Company is working towards the completion of the acquisition of a 51% interest in ALPS and the acquisition of 100% of the outstanding membership interest in Green Therapeutics, which includes the discontinuation of all previous litigation with Green Therapeutics. As per the Company’s commitment to keep our shareholders fully informed and apprised, we are expecting to enter into definitive agreements with ALPS in short order.
The GT transaction is also advancing, and definitive agreements are being drafted to meet applicable U.S. state regulatory requirements. ALPS and AUSA have agreed to extend the completion of the definitive agreements to February 22, 2021. It is anticipated by the Company that the ALPS transaction will close first, with the close of the GT closing following shortly thereafter.
GT continues to turn out exceptional, high-end products. Three of the Company’s Cultivars, sold under the GT Flowers brand, have tested for high potency with exceptional terpene profiles:
London Poundcake tested at 35% THC with 18.9 mg/g terpenes; Sliver Hawks Haze tested at 30% THC with 23.4 mg/g terpenes, and Phatt Fruity tested at 29.8% THC with 21.1 mg/g terpenes.
The high quality of these products, due to GT’s science-based approach to cultivation, is reflected in GT products consistently selling out in the Nevada adult usage space in which GT has achieved a 52% penetration rate.
Additionally, GT is in the process of operationalizing assets in Missouri and Oklahoma. In Missouri, GT has completed work on