Final Milestone Met; Clears Way for Submission to State for Conversion of Provisional License to Final License
MILLVILLE, NJ / ACCESSWIRE / August 8, 2022 / Australis Capital Inc. (CSE:AUSA) (OTCQB:AUSAF) ("AUSA", "AUDACIOUS", or the "Company"), today announced that further to its press release of July 20, 2022, the Company's wholly owned subsidiary AUDACIOUS NJ, LLC has now received approval from the municipality of Millville for its planned cannabis facility.
With the Millville municipal Resolution of Support, the Company will now submit the required documentation to the state of New Jersey for the conversion of its conditional license into a final license, enabling the Company to sell adult use cannabis.
Per its earlier release, the Company intends to construct an ALPS Achieve Series facility. The Achieve series was launched in 2021 by ALPS, the Company's majority owned subsidiary. ALPS is a leader in controlled environment agriculture, facility design, construction management, commissioning and post start-up monitoring services with its patented APIS system.
The leased facility is over 100,000 square feet. It is capable of producing 24,000+ pounds of dry flower per year. The Achieve series takes growing to the next level with high-quality cannabis at low operating cost being the main goal. This will be accomplished through the incorporation of the industry's most efficient equipment throughout the entire cultivation process, including state of the art LED lighting, automated benching, sophisticated nutrient delivery system and world class environmental controls. Multiple cannabis SKUs can be produced comfortably as the facility includes ample space for post-harvest manufacturing. Cultivation and manufacturing systems will be GMP compliant and will address state and municipal safety and environmental requirements.
Leah Bailey, CBDO, commented, "With municipal approval received, we are now turning our attention to completing the final licensing process with the state. We are grateful to the City of Millville, who have been great to work with., We look forward to bringing this exciting project and many new jobs to Millville and eventually bringing our award-winning brands to the people of New Jersey."
Terry Booth, CEO, added, "Meeting yet another milestone towards our New Jersey project shows how well we are executing. Increasingly we are recognized for our operational excellence, from cultivation design through to product development, and consequently we have been able to secure important licenses and partnerships. Once our full license is granted, we will have added yet more value to the Company in a state that has incredible potential. Combined with our other East Coast projects, we are one of few, if not the only MSO with adult use operations in New Jersey and New York. This makes us exceptionally well positioned to capitalize on the multi-billion-dollar opportunity created by a population close to 30 million people."
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."
Terry Booth, CEO
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SOURCE: Australis Capital, Inc.
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