Australis Capital Announces Name Change And Several State Expansion In Latest Corp Update

Australis Capital Inc. AUSAF announced its latest corporate update on Tuesday, detailing branding shifts and continued expansion efforts.

Name Change

The update included a name change for the company's U.S. adult-use operations. Now operating as Audacious Brands, the company plans to consolidate its brands under the new name while launching new product lines.

CEO Terry Booth said the name better reflects the company's adult-use operations. "Audacious stands for doing things differently, courageously breaking with tradition, being bold, brave and confident."

The name change will not affect the company's stock symbols.

Audacious Missouri Activity

Australis received its license to operate on an 8,000 square foot extraction and manufacturing facility in Missouri. Initial expectations see the facility producing 100 pounds of raw material daily. The facility aims to serve as the production point for cannabis brand Tsunami and its expansion into the state.

The company now awaits the completion of its license transfer from brand Green Therapeutics. Once complete, Australis would own 25% of the license.

Nevada Land And Water Acquired

Australis also completed the acquisition of 23 acres of land in Nevada. The grounds plan to serve as a hub for various operators on the supply chain. Australis also obtained the last remaining water rights in the region. The company issued 6,178,348 shares for the land and water deals.

Booth said the plan is to continue helping third-party operators build their facilities. In exchange, Australis is allowed to grow and manufacture its products on site.

Additional Expansion

Additional expansion is underway that could see Audacious in Massachusetts and California. The company did not announce other details to adhere to its M&A policies.

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