Australis Capital Inc. (CSE: AUSA) (OTC: AUSAF) announced that it is changing its name to Audacious Brands. The company’s ticker symbol will remain AUSA on the CSE and AUSAF on the OTC. The company said it will consolidate its brands under the new Audacious banner and intends to launch additional product lines under the new name.
“Audacious as a name for our adult-use operations is a much better reflection of our corporate culture and how we execute and operate,” said Terry Booth, CEO. “Audacious stands for doing things differently, courageously breaking with tradition, being bold, brave and confident. As a Company, we are executing on a unique strategy that is very difficult to emulate, while at the same time de-risking our operations. In an increasingly fragmented market with largely converging strategies, it takes an audacious company to stand out. This is who we are, and this is how we operate. The new name also better reflects our motto to ignite, delight and excite our shareholder base and the customers enjoying our products.”
Audacious was originally founded by Steve Dobler and Terry Booth, the founders of Aurora Cannabis. After the completion of a dissident shareholder battle that ended with convincing shareholder approval, Terry Booth, former Aurora CEO, who had to step away from AUSA upon spin off, re-joined AUSA as CEO on March 9, 2021.
Audacious also announced that it has received its license to operate as part of its Green Therapeutics acquisition. The company said that once the license transfer is complete, Audacious will own 25% of a processing and manufacturing license.
The Missouri operations consist of an 8,000 square foot facility for extraction and manufacturing, including a complete solventless extraction line, with an initial capacity to extract approximately 100 lbs per day of raw material. The facility will allow for the expansion of the Tsunami brand to penetrate the Missouri market. A final inspection was successfully completed, and the Missouri operation has received its license to operate. Sales are anticipated to commence within the next 45 days.
The Missouri market is anticipated to reach $225–$300 million by 2021 and is anticipated to show continued strong growth to $500–$625 million by 2025 (Marijuana Business Factbook 2021). To date, 25 manufacturing licenses have been approved to operate. Further licensing is currently capped.
Audacious also noted that it has completed the acquisition of a 23-acre plot of land in Nevada, which it plans to become a hub for multiple operators covering the industry value chain from cultivation to extraction and manufacturing. In addition, it has acquired the last remaining water rights in this area, providing a substantial advantage in securing partners for the development of this project.
“The Sandy Valley land has great potential for us to develop our multi-operator cannabis hub. In line with our capital light expansion strategy, we intend for ALPS to assist third party operators, be they cultivators, processors or manufacturers, in building their facilities, in exchange for a percentage of capacity to grow our own cultivars and manufacture our products,” said Booth. “While through Green Therapeutics we already are a leading operator in the state, growth has been limited through lack of high-quality cannabis. This initiative, in addition to our other moves in the state, as announced recently, will change that. We are already in talks with a number of highly interested parties to realize our vision, on which we will report more in the coming months.”
The company outlined its pipeline with transactions close to the agreement stage including a facility and supply partnership in Massachusetts, a retail facility in an underserved market in California, as well as an edibles company in California. In addition to these developments, the company continues to advance on other opportunities in jurisdictions in the Eastern U.S. and other regions. Audacious said it plans to maintain strict discipline as to M&A, in line with previously communicated criteria, such as accretive transactions and disruption. Management anticipates making further announcements on transactions and partnerships in the weeks and months to come.