Australis Capital (AUSA.C) announced that they have acquired controlling interest in an Ontario numbered company called ALPS involved in design and construction for horticulture facilities, according to a press release.

ALPS deals specifically with cannabis, but has also constructed horticulture facilities to grow mushrooms, fruits, vegetables, flowers and others. They provide support and expertise to clients from the time the business starts through to the success of the operation.

“We anticipate that this transaction, upon its completion, will be game changing and immediately accretive, and marks the first and crucial step in the transformation of AUSA to become the Company it was always meant to be: a profitable and rapidly growing MSO. We believe that through ALPS we will be able to secure a supply of reliable and high-quality input material to fuel our multi-state roll-out, while at the same time generating free cash flow to accelerate the growth of our business. This is what we promised AUSA shareholders, and this is what we are executing on,” said Duke Fu, interim CEO of AUSA.

Source: stockwatch.com

Australis is up 33% on the news, and is now trading at $0.26.

—Joseph Morton

Written By:

Joseph Morton

Joseph is a Vancouver-based author and journalist with both a communications degree and journalism diploma (and a few novels) under his belt. His joie de vivre is to spin difficult technical topics into more human-centric narratives. Buy him a coffee and he'll talk your ear off for hours about privacy issues, blockchain, cryptocurrency and martial arts. Don't talk to him if you're either a tomato, a bully, or if you're not a fan of either 1984 or Tender is the Night. No. You can still talk to him. Just be prepared to be told why you're wrong.

More By This Author
Tags:
Cannabis
ALPS
AUSA.C
Australis
Australis Capital
Canadian cannabis companies
Canadian Cannabis market
cannabis
horticulture
0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x