CSE New Listing - Australis Capital Commences Trading on the Canadian Securities Exchange - Video News Alert on InvestmentPitch.com
Vancouver, British Columbia--(Newsfile Corp. - September 21, 2018) - Australis Capital (CSE: AUSA) is the latest new listing on the Canadian Securities Exchange. The company, a subsidiary of Aurora Cannabis Inc., was spun off to hold certain U.S. assets. Aurora shareholders received one unit of Australis Capital for every 34 Aurora shares, with each unit consisting of one share and one warrant, with each warrant exercisable at $0.25 for 12 months.
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Australis Capital identifies and invests in the cannabis industry predominately in the United States, a highly regulated, fragmented, fast growing 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.
The company's assets include a 50% joint venture interest in Australis Holdings, a limited liability partnership organized under the laws of Washington State, which holds two parcels of land totaling 24.5 acres in Whatcom county, Washington.
It also holds an interest in SubTerra, including a five percent royalty on any gross revenues of SubTerra earned annually from the sale of cannabis and cannabis-based products grown and/or processed at its facility in the State of Michigan. SubTerra operates a research facility located in White Pine, Michigan and has applied for a State of Michigan Class C Grower License and a State of Michigan Processor License for the production and processing of cannabis, respectively.
Scott Dowty, CEO, stated: "The Australis team is excited to begin trading today and grateful to our friends at Aurora Cannabis as the genesis to what will be a compelling and complimentary US mandate. We are laser focused on creating shareholder value through disciplined execution, operational expertise and a go-to-market strategy fueled by defined growth vectors."
The company recently completed a non-brokered private placement, raising gross proceeds of $17 million from the placement of 85 million shares at a price of $0.20 per share.
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