Cocoon Technology Achieves Development Milestone and Receives First Purchase Order From Thrive – Yahoo Finance

LAS VEGAS , Feb. 26, 2020 /CNW/ – Australis Capital Inc. (AUSA.CN) (AUSAF) (“AUSA” or the “Company”) is pleased to announce Cocoon Technology, LLC (“Cocoon”) is in the final phase of development and completing testing for the platform’s deployment and initial launch with Thrive Cannabis Marketplace (“THRIVE”), Nevada’s largest independently owned Cannabis Retailer, in April 2020 . THRIVE has ordered 32 CocoonPod™ kiosks for their eight locations in Nevada , starting with the pilot location at 2755 W. Cheyenne Ave. #103, North Las Vegas, Nevada and will roll out to the other locations over the following six months. Cocoon expects to generate $1.4 million in annual recurring net revenue year one with net revenues exceeding $7.1 million over the four-year exclusive term with THRIVE.

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“Our customers expect an elevated and streamlined experience when shopping at THRIVE,” said Mitch Britten , CEO of THRIVE. “A self-service option provides customers an opportunity to experience the dispensary in an interactive and innovative way while streamlining operations. Customers are offered privacy, product education, recommendations, and loyalty offerings while completing their transaction at their leisure.”

“We’re excited to launch the Cocoon platform in Las Vegas ,” said Max Aceituno , SVP, Marketing & Product Development at AUSA. “As the world’s most robust Platform-as-a-Service specifically designed for dispensaries, Cocoon enables customers to research products, place orders, and make payments directly through their desired point-of-interaction. THRIVE’s high-traffic locations are the perfect environment for the initial launch of this platform and we’re happy to collaborate with Mitch and team in crafting this unique feature set.”

For more information on Cocoon or to schedule a demo, visit CocoonTechnology.com.

About Australis Capital Inc.

AUSA operates and builds transformative, differentiated cannabis companies predominantly in the United States, a highly-regulated, fragmented, and rapidly expanding industry. AUSA adheres to stringent evaluation and operating criteria

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