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LAS VEGAS, Nov, 19, 2018 /CNW/ - Australis Capital Inc. ("Australis" or the "Company") (CSE: AUSA), is pleased to announce that further to its news release of October 3, 2018, the Company has completed the purchase of 15% of the outstanding common shares (the "Shares") in the capital of Wagner Dimas Inc. from certain subsidiaries of CannaRoyalty Corp. d/b/a Origin House ("Origin House").
In payment for the Shares, the Company made a cash payment of CAD $1,500,000 and issued 748,916 units ("Units") to Origin House on the same terms as the units offered in the Company's private placement which was completed on October 25, 2018, with each Unit consisting of one common share and one-half common share purchase warrant of Australis.
About Australis Capital Inc.
Australis Capital identifies and invests in the cannabis industry predominately in the United States, a highly regulated, fragmented, rapidly expanding and evolving industry. Investments may include and are not limited to equity, debt or other securities of both public and private companies, financings in exchange for royalties or other distribution streams, and control stake acquisitions. Australis Capital adheres to stringent investment criteria and will focus on significant near and mid-term high-quality opportunities with strong return potentials while maintaining a steadfast commitment to governance and community. Australis Capital's Board, Management and Advisory Committee members have material experience with, and knowledge of, the cannabis space in the U.S., extensive backgrounds in highly regulated industries, adherence to stringent regulatory compliance, public company and operational expertise. In addition to the Company's expertise and strong execution on strategic M&A, which to date includes Body and Mind Inc. and Rthm Technologies Inc., Australis has developed strategic partnerships with companies such as Wagner Dimas. Australis' Common shares trade on the CSE under the symbol "AUSA".
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive Officer
Forward-Looking Information Statement
This news release contains statements and information that, to the extent that they are not historical fact, constitute "forward-looking information" within the meaning of applicable securities legislation, including statements relating to Australis' investment plans. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking statement speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company's management to predict all of such factors and to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. The Company does not undertake any obligation to update any forward-looking information to reflect information, events, results, circumstances or otherwise after the date hereof or to reflect the occurrence of unanticipated events, except as required by law including securities laws.
The CSE has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Australis Capital Inc.
For further information: Michael J. Carlotti, Chief Financial Officer, [email protected]