AUSTRALIS CAPITAL INC - AUSAF STOCK NEWS

Australis Capital Inc. (CSE:AUSA)(OTC PINK:AUSAF) has completed its submission to the New Jersey Cannabis Regulatory Commission to convert conditional licenses into Annual Adult Use Cultivation and Manufacturing licenses. This allows the company to grow, manufacture, and distribute cannabis from its Millville facility, targeting a market of 8.9 million people. The process was rigorous, requiring various approvals and detailed information. CEO Terry Booth noted this as a transformative step for the company and expressed optimism about upcoming construction and product offerings.

AUDACIOUS (CSE:AUSA)(OTCQB:AUSAF) has reported significant developments, including receiving conditional licenses for cultivation and manufacturing in New Jersey, paving the way for adult-use operations. Its ALPS subsidiary has secured large projects in India and the U.S., with a notable $2 million consulting project. The company's first cannabis harvest in New York has been completed, focusing on product processing for social equity dispensaries. Despite current market challenges, brands like LOOS continue to perform well in California.

Australis Capital Inc. (CSE:AUSA, OTCQB:AUSAF) has commenced pre-sales following its first successful cannabis harvest in New York State, in partnership with Hempire. The company is now processing harvested cannabis into vapes and edibles under the guidance of industry veteran Anthony DeMeo. The first adult-use cannabis sales in New York are anticipated before 2023, with ongoing negotiations for product pre-sales. This project aims to establish AUDACIOUS's brand and generate significant revenues from adult-use cannabis sales.

Australis Capital Inc. (CSE:AUSA, OTCQB:AUSAF) has updated its operations, focusing on two cannabis projects in New York State. The Broome County project, in partnership with Hempire, has begun outdoor cultivation, with an anticipated harvest in October. The company passed its first state audit with positive results. Additionally, AUDACIOUS engages with the Black Institute to support social equity dispensaries through educational initiatives. In other states, the company is progressing with its license conversion in New Jersey and construction of a facility in Massachusetts.

Australis Capital Inc. (CSE:AUSA, OTCQB:AUSAF) reported exceptional fiscal year 2022 results, with revenues soaring over 1,200% to nearly $9.5 million, driven by full-year consolidation of ALPS revenue. Gross margins turned positive, reaching $5.9 million. However, the operating loss increased 38% to $19.4 million due to heightened personnel and administrative costs. Total assets decreased to $63.3 million, while total liabilities rose 12% to $17.7 million. The company secured significant partnerships in New York and Thailand, enhancing growth prospects for fiscal 2023.

Australis Capital Inc. (CSE:AUSA, OTCQB:AUSAF) announced a credit facility with Lola Ventures, controlled by CEO Terry Booth, for up to $2.5 million. This funding aims to support general working capital and growth initiatives. Booth expressed confidence that this financial support will drive revenue growth by enhancing their operations across states and internationally. With a focus on building a sustainable cannabis business, AUDACIOUS is set to keep investors informed about its progress.

Australis Capital Inc. (OTCQB:AUSAF) announced progress in securing a full adult use cannabis license in New Jersey. The company has signed a lease for a 105,000 sq ft cannabis grow facility in Millville, with a maximum canopy area of 50,000 sq ft. They have also submitted a municipal approval application for the facility. The planned Achieve Series facility aims for efficient production, capable of generating over 43,000 pounds of dry flower annually. Executives express confidence that meeting these milestones will significantly enhance the company's value.

AUDACIOUS announced the appointment of Jill Swainson to its Board of Directors, replacing Avi Gellar, who resigned for personal reasons. Swainson, a former Chief Legal Counsel at Aurora, brings significant expertise in international cannabis regulations and governance. Her background is expected to enhance the company's strategic growth as it navigates the cannabis market, particularly in the U.S. East Coast. CEO Terry Booth praised her entrepreneurial approach and experience, aligning with AUDACIOUS's vision for expansion and leadership in the cannabis sector.

Australis Capital Inc. (CSE:AUSA, OTCQB:AUSAF) announced the start of construction for its cultivation, manufacturing, and retail project in New York, located on the Saint Regis Mohawk territory. This initiative aims for rapid market entry with a low-cost, specialized growing system designed for high-quality cannabis production. The first harvest is expected in September 2022, alongside the opening of a dispensary adjacent to a major casino. CEO Terry Booth emphasized the importance of early market entry as a key strategy for growth in New York's cannabis market.