Australis Capital Inc. (OTCMKTS:AUSAF) has announced the completion of the first step of the transaction for Green Therapeutics LLC’s acquisition. The transaction will be accretive and will add revenues to the company and transform it into a cannabis industry operator.
Australis and GT close first stage of acquisition
The company will complete the transaction in two[parts and already has closed the first, which is the acquisition of Green Therapeutics’ subsidiary. The subsidiary contains several unregulated assets that include GT brands and ancillary agreements that include management and brand licensing agreements. Consequently, subject to approval, Australis will complete GT’s acquisition. Also, in connection to the initial closing completion, the companies have settled an existing legal dispute.
Autralis’ finalization of the transaction marks its foray into the US cannabis sector as an operator, effectively transforming its previous identity as an investor. According to the company’s management, being an active player in the industry and executing an expansion strategy will help the company accelerate growth, thus becoming a competitive leader in the cannabis sector and enhancing shareholder value.
Terry Booth, the company’s CEO, said that the company continues to execute rapidly and will accelerate growth now with the completion of the first stage for GT’s acquisition. He said that the GT team will be valuable and productive cannabis assets and operations to the company. Equally, GT’s deep cannabis industry connections in Nevada will help the company grow and become a multistate operator.
GT offers designer cannabis derivatives and high-end flower
GT is an award-winning cannabis operator based in Nevada with a robust brand portfolio of luxury/designer derivative products and high-end dried flowers. The GT team, led by co-founder and former MedMen President Duke Fu, has a strong execution record with numerous company exits and acquisitions.
Fu said that the deal with Australis’s execution enhances capital markets access and network capacity to boost GT’s growth across the nation. He said that they are working on several growth initiatives that they are looking forward to executing once the acquisition has been finalized.
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