reports
- Sean Conroy
Australis Capital - Company update on Folium and Cocoon
On 26 February 2020 Australis Capital hosted a corporate update conference call. Management provided more color on the cancelled Folium merger and cited both the declining price of CBD and undisclosed issues that were uncovered during its due diligence process as the reason for the cancelation. Additionally, the company provided an update on Cocoon Technology, which just received its first order for 32 kiosks to be deployed at eight locations in Nevada.
- Sean Conroy
Australis Capital - Folium merger cancelled
Australis Capital announced on 18 February 2020 that the proposed merger with Folium Biosciences would be called off following the discovery of ‘new relevant information with regard to Folium.’ Further details have not been disclosed. Australis previously planned on divesting its THC associated assets, which we now assume will not proceed following the termination of the merger agreement.
- Sean Conroy
Australis Capital - Australis to reverse merge with Folium
Australis Capital announced on 11 December 2019 that it has entered into an agreement with Folium Biosciences to merge into a combined company focused on non-psychoactive cannabinoid products. Existing Australis shareholders will own approximately 11% of the resulting company, but the plan is for Australis management to be involved in running the combined entity. We expect the company to divest its assets based in THC, with the goal of making the company fully federally legal in the US, and to l...
- Sean Conroy
Australis Capital - Cocoon, a next-gen self-service platform
On 29 October 2019, Australis announced the formation a new subsidiary, Cocoon Technology, which will develop a self-service kiosk (CocoonPod) for the cannabis industry. Each device will handle all aspects of consumer interaction including ID processing, payment and rewards, with integration into dispensary retail platforms for order fulfillment and reporting. Moreover, Australis will integrate Cocoon with its existing mobile platform to provide a loyalty program and likely other features.
- Dr Nathaniel Calloway
Australis Capital - A productive first year to say the least
Australis Capital recently reported financial results for its first year of operations. The year was characterized by a vigorous pace of deals to rapidly construct a major cannabis operator. The company now has multiple brands, access to retail spaces and supporting technology, and multiple industry partnerships and is close to completing its acquisition of Green Therapeutics (by the end of 2019), which will provide Australis with additional brands and the production it needs to launch.
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