The Nevada-based company will focus on its US adult market operations and will feature additional product lines under the new name
Australis Capital Inc (CSE:AUSA) (OTCMKTS:AUSAF) (FRA:AC4) said going forward, it will operate under the name Audacious Brand and will consolidate its product line under the Audacious banner.
The Nevada-based company will focus on its US adult market operations and will feature additional product lines under the new name.
Audacious Brand will continue to trade on the Canadian Securities Exchange and the OTC market under the same ticker symbols, AUSA and AUSAF, respectively.
READ: Australis Capital touts new study that shows medical cannabis can reduce opioid use, the progress of its subsidiaries and more in corporate update
A full brand rollout and launch is planned in the months ahead.
"Audacious as a name for our adult use operations is a much better reflection of our corporate culture and how we execute and operate," Terry Booth, CEO of Audacious Brand said in a statement. "Audacious stands for doing things differently, courageously breaking with tradition, being bold, brave and confident.
Booth went on to say: “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.
Aside from the name change, Audacious Brand also reported the receipt of a license to operate in Missouri. The operations, which are part of the previously announced Green Therapeutics transaction, will see Audacious own 25% of a processing and manufacturing license once the license transfer is complete.
The operation consists of an 8,000 square foot facility for extraction and manufacturing. The Missouri facility will also include a complete solventless extraction line with an initial capacity to extract about 100 pounds per day of raw material. Audacious describes the operation as the current industry benchmark for high-end quality.
The facility will allow for the expansion of the company’s Tsunami brand as well as a stronger foothold in the Missouri market, which is projected to reach $225 million - $300 million this year.
Sales are anticipated to commence within the next 45 days.
"Missouri is one of the hardest US markets to enter, with a capped license regime, which makes it a highly attractive jurisdiction to operate in,” said Duke Fu, chief operations officer.
He continued: “Our partners are well known within the home healthcare market in Missouri, which should greatly boost our competitive position with healthcare professionals. We are in talks with several dispensaries for product placements, as well as are in talks with highly regarded out-of-state brands that are looking at us for white labelling to enter this attractive market.”
In Nevada, the company has now acquired a 23-acre plot of land, which will become a hub for multiple operators including, cultivation, extraction and manufacturing, covering the industry value chain.
Audacious has also attained the last remaining water rights in the area, providing a substantial advantage in securing partners for development of the planned project.
A total of 6,178,348 shares were issued in consideration of both transactions and the land and water rights.
Additionally, Audacious reports its majority owned subsidiary ALPS is being increasingly requested to assist cultivators of fruits and vegetables, as well as cannabis, in their quest towards implementing sustainable and Environmental, Social, Governance (ESG) practices.
Important themes in this regard are reduced use of water, increased energy efficiency and an overall reduced carbon footprint through vertical farming in high density urban settings.
Contact the writer at georgia@proactiveinvestors.com
Follow her on Twitter @MissInformd
