Australis Capital Inc., operating as Audacious Brands announced the acquisition of California-based cannabinoid infused drinks company LOOS. The company’s first product, a 2oz “shot” infused with 100mg of THC, is available in three flavors – Orange Crush Sativa, Green Dream Hybrid, and Lavender Indica. The products are vegan, gluten-free and low-sugar. LOOS plans to release a number of other products across several key categories, including CBD-infused shots. The LOOS founders will report to Chief Business Development Officer Leah S. Bailey.
“This is a significant step for our company as we not only expand our product line, but also our footprint into California, which is one of the most important cannabis markets in the world,” says AUSA CEO Terry Booth. “The LOOS founders have more than a decade of experience working with top companies including Plus Products, 710 Labs, Loudpack, and Flow Kana, and we look forward to leveraging their expertise as we continue to pursue our mission to be the most dynamic and inclusive cannabis products brand in North America. Teaming up with LOOS and the team behind it gives us a head start and adds another product and revenue-generating line to our portfolio.”
The CBD infused drinks market is anticipated to show significant growth in the coming years. Zenith Global estimates that the U.S. market will reach $1.4 billion by 2023, and market research firm Facts & Factors estimates that the global CBD infused beverages market will reach $14.6 billion by 2026.
“With LOOS we are adding a fresh and exciting brand and consumer segment with compelling products that offer a unique user experience,” Bailey says. Furthermore, with Ben Koppel and Anthony Bendana joining us, we are adding two aggressive, highly successful and commercially savvy people to our team, which will help us to build new distribution networks for all Audacious brands and product lines. The deal is structured to ensure full alignment with AUSA shareholder interests.”
LOOS Founders Bendana and Koppel stated, “As two people who have worked at all levels in the industry, we saw an opportunity to create a brand with quality, effective, and affordable products that specifically caters to the cannabis community we love. We believe this industry should aspire to the highest ideals of the cannabis pioneers that powered it into existence, and we want LOOS to be an ambassador for the type of radical empathy, compassion, and community we could all use to help us stay LOOS. We are excited to join forces with Audacious, whose philosophy and values closely match ours and whose rapidly expanding footprint will enable us to accelerate our growth into new territories on a global basis.”
Audacious is at its roots a community and culture-based cannabis company created by Steve Dobler and Terry Booth, the founders of Aurora Cannabis Inc. Audacious is la Multiple State Operator in the medical and adult usage cannabis sectors. AUSA’s business assets include: a 51% ownership interest in ALPS, a milestone weighted deal with an option to acquire the remaining 49% of ALPS –- AUSA and Green Therapeutics, an award-winning MSO, have finalized and agreed to all terms with respect to AUSA’s 100% acquisition (subject to regulatory state licensing approvals). AUSA also owns land assets in Bellingham, Washington – as well as the iconic West Coast brand Mr. Natural and the ingestibles brand LOOS with a footprint in the California market. AUSA furthermore has investments in Body and Mind Inc., a U.S. MSO, Quality Green, a Canadian licensed producer and Cocoon, a company changing the dispensary customer user experience through self-service kiosks The Company also has executed a term sheet for a JV partnership with U.S. and Canada based 3 Rivers Biotech for plant tissue culture, genetics clean-up and micro propagation. AUSA cannabis assets and ALPS cannabis projects are presently located in Massachusetts, Arizona, Nevada, Washington, Michigan, Missouri, Oklahoma, and California with many other deals in other states presently being evaluated and negotiated.
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