Australis Capital is sharing its operational progress on different segments.
Jon Paul, CFO, commented, “Despite ALPS only contributing approximately 3 weeks to our year-end, AUSA’s revenues are anticipated to more than double for the entire fiscal year ended March 31, 2021. With an array of current projects in progress and an expanding pipeline of new projects anticipated to be signed, the impact of ALPS on the first quarter of our fiscal 2022 will be even greater. Meanwhile, we expect the sale of a land asset held through our other acquisition, Green Therapeutics, to close shortly, which will add approximately C$2.5 million in cash to our working capital position. With the anticipated growth at ALPS and GT, as well as other liquid assets held, AUSA is in robust shape financially for its current level of operations.”
Company Eying New York and East Coast Expansion
Following the legalization of adult-use cannabis in New York, the Company is reiterating its intent to expand into this market. The Company is in discussions with a number of potential partners with a variety of partnership models to facilitate entry into the fourth most populous U.S. state (approximately 19.5 million people). The legal cannabis industry in New York State is expected to capture $1.2 billion in sales by 2023 and $4.2 billion by 2027.1
To enable a sound market entry into New York and New Jersey, the Company is in the process of assembling a team of operators, license application specialists, and influencers. The AUSA team will be in New York next week to lock down the market entry team and determine its strategy for entering not only New York but the eastern U.S. in general.
Terry Booth, AUSA CEO, commented, “We intend to play a leading role in the Eastern U.S. market, which will take a variety