Audacious Partners With Thailand-Based Golden Triangle Health To Bring CBD To Asian Market

Australis Capital Inc. AUSAF AUSA, which operates as Audacious, has entered into a definitive agreement with Golden Triangle Health in a strategic partnership that marks the company's first foray into the Asian market.

The move comes some two months after Audacious entered into a term sheet to form a strategic partnership with GTI, a subsidiary of NR Instant Produce PCL, a southeast Asian food manufacturer and distributor, with a market capitalization of CA$440 million ($348.4 million).

Under the deal, Audacious and GTH agreed to supply major consumer-packaged goods (CPG) companies with business-to-business (B2B) white label and branded products. 

In the meantime, the two companies are working towards completing the transaction and setting into motion a broader commercial program to expand throughout Asia and beyond.

Terry Booth, Audacious' CEO, said that the new partnership positions the company for the anticipated launch of the cannabis market in Thailand.

"The market in Thailand is anticipated to take off in the coming year, while other countries in the region are considering various degrees of legalization as well," Booth said. "Through the distribution channels that GTH and their parent company bring, we anticipate being able to rapidly expand in this very promising market with a broad portfolio of products."

In addition, Audacious has sold the first shipment of CBD hemp seeds to GTH, which helps it expand its product portfolio. The hemp seeds will be cultivated and used for food products as well as CBD isolate extraction.

"We have many opportunities and are leveraging our network of international distribution contacts to execute rapidly and build the leader in the Asia-Pacific cannabis market," Tom Kruesopon, a co-founder of GTH said.

More recent news from Audacious:

• Audacious Reports 2,068% YoY Growth In Q2 Revenue, Anticipates Q3 Revenues North Of $3M
• Audacious Secures $20M Funding & Closes $3.1M Non-Brokered Private Placement Tranche
• AUDACIOUS To Enter New York's Cannabis Market Via Partnership With First Americans Of Saint Regis Mohawk Tribe
• Cannabis Movers & Shakers: YourWay Cannabis, Indiva, Australis Capital, USCC

AUSAF Price Action

Audacious' shares traded 1.93% higher at $0.1163 per share at the time of writing on Wednesday.

Photo: Courtesy of Mathew Schwartz on Unsplash