Here’s the press release……….Australis Capital Inc AUSAF (CSE: AUSA) announced a merger Wednesday of AUSA, Folium Equity Holding LLC and Folium Merger Sub, LLC a new Colorado subsidiary of AUSA.
AUSA will acquire all outstanding Folium membership units that it does not already own.
Folium and Merger Sub will merge, and Folium will become a wholly owned subsidiary of AUSA, with AUSA being rebranded as Folium Biosciences.
“Folium’s core [tenets] of quality, science, scale and innovation — coupled with its broad customer base, long runway of product innovation, operating history, minimal debt structure and opportunities to further grow the business organically and through M&A — makes this an exciting and unique opportunity for AUSA stakeholders,” AUSA CEO Scott Dowty said in a statement.
Folium is a vertically integrated producer, manufacturer and distributor of hemp-derived non-psychoactive cannabinoids in North America.
The company is unique in that its growth has been organic and funded through sales, and it has a track record of consistent profitability, CEO and co-founder Kashif Shan said in a statement.
“Now, with access to the public markets and the strategic addition of key seasoned management personnel experienced in operating a public company, we are positioned to navigate to the next level of success in concert with the existing leadership team here at Folium.”
and here it all is on the AUSA Website