AUDACIOUS Completes Transaction to Acquire Lo͞oS
Allows Company to continue the ramp up of production and sales, capturing a greater share of California's growing canna-beverage market.
LAS VEGAS, Jan. 13, 2022 /PRNewswire/ - Terry Booth, CEO, is proud to announce that Australis Capital Inc. (CSE: AUSA) (OTC: AUSAF) ("AUSA", "AUDACIOUS" or the "Company"), an emerging global cannabis company with an expanding suite of multinational operations, has completed its acquisition of Lo͞oS, a cannabinoid-infused shot beverage company, based in Santa Cruz, CA.
"We can now go full throttle and significantly ramp up production and marketing initiatives with retail and delivery partners across California to meet growing demand," said Terry Booth, CEO of AUDACIOUS. "Lo͞oS is another example of how brands with strong value propositions will attract a growing audience. I am very proud of how well the Lo͞oS brand resonates with the discerning Californian cannabis community, as reflected by our last production runs selling out in short order. We have big plans for Lo͞oS and intend launching the brand in other jurisdictions we are operational in. Anthony and Ben, the co-founders, have done a great job in generating sales momentum, further strengthened by the incredible reach of the Eaze delivery platform. The future for Lo͞oS is bright and we look forward to reporting on our continued successes as we bring this product line to new markets."
"Our footprint keeps growing and so do our sales. Being such a new brand, it's exciting to see us already become the second best-selling beverage through Eaze on any day that we run promotions," said Anthony Bendana, co-founder of Lo͞oS and Director of Sales at AUDACIOUS.
Lo͞oS products are based on a unique nano-emulsion technology platform for rapid onset, are vegan, gluten free, low sugar and low calorie. The 2-oz. shots are infused with 100mg THC (5 mg per serving) and are available in three flavors: Orange Crush Sativa, Green Dream Hybrid, and Lavender Indica. Each flavor features a unique terpene profile and has less than 3 mg of sugar per bottle. After entering the market in the 2-oz. drink category, Lo͞oS plans to release a number of other products across several key categories.
"Despite limited inventory and only recent marketing spend, the success of our limited launch just serves to demonstrate the resonance of the brand among its target audience. We look forward to significant growth in 2022," added Bendana.
Consideration
As part of the consideration for the transaction, the Company issued a total of 4,687,500 common shares.
About Lo͞oS
Lo͞oS was formulated for the cannabis confident and is the most potent and functional beverage on the market. Lo͞oS shots are infused with added terpenes and nutraceuticals to compliment the THC and provide a new type of entourage effect. Learn more here.
About AUDACIOUS
AUDACIOUS is a next-generation MSO growing the cannabis industry of tomorrow from the ground up, led by industry pioneer Terry Booth and an accomplished management team with proven industry track records. With operations that range from providing industry-leading sustainable cultivation design and optimization to retail storefronts, growing flower in-house, and manufacturing award-winning brands, AUDACIOUS has products and solutions for everyone. Quickly expanding through innovative partnerships and collaborations, AUDACIOUS is forging the inclusive cannabis community of tomorrow, today. Learn more about AUDACIOUS here.
AUDACIOUS common shares trade on the CSE under the symbol "AUSA" and on the OTCQB under the symbol "AUSAF."
ON BEHALF OF THE BOARD
"Terry Booth"
________________________________
Terry Booth
Chief Executive Officer and Director
Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this news release.
FORWARD-LOOKING STATEMENTS:
Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and information that may constitute "forward-looking information" within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including the Company's anticipated use of proceeds from the Offering, are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this news release. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary include, without limitation: uncertainties affecting the Company's market share in California in the beverage category. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except as required by applicable securities laws.
SOURCE Australis Capital Inc.
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