AUDACIOUS Enters into Credit Facility with Lola Ventures

Rhea-AI Summary

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.

Positive

• Credit facility of up to $2.5 million enhances liquidity for growth initiatives.
• Terry Booth expresses strong confidence in the company's future execution and revenue growth.

Negative

• None.

Entity Controlled by CEO Terry Booth to Provide up to $2.5 Million,
Supporting the Company's Growth Initiatives

LAS VEGAS, NV / ACCESSWIRE / July 29, 2022 / Australis Capital Inc. (CSE:AUSA) (OTCQB:AUSAF) ("AUSA", "AUDACIOUS", or the "Company"), today announced that the Company has entered into a credit facility with Lola Ventures ("Lola"), an entity controlled by Company CEO Terry Booth.

The facility will make up to $2.5 million available to the Company, earmarked for general working capital purposes, including fueling AUDACIOUS' growth initiatives.

"We have built an exceptional foundation with unique assets in New York State, New Jersey, Nevada, California and Thailand, and this credit facility signifies my strong confidence in our execution on the AUDACIOUS go forward plan," said Terry Booth, CEO. "The funds will enable us to inject cash into initiatives that will fuel revenue growth directly, and I look forward to informing the market regularly on our achievements."

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."

Terry Booth, CEO
ir@audacious.net

For further information, please contact:

For Investors:
Marc Lakmaaker
T: +1.647.289.6640
marc@audacious.net

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, 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. 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.

View source version on accesswire.com:
https://www.accesswire.com/710229/AUDACIOUS-Enters-into-Credit-Facility-with-Lola-Ventures

FAQ

What is the credit facility announced by Australis Capital?

Australis Capital announced a credit facility with Lola Ventures for up to $2.5 million to support its growth initiatives.

Who controls Lola Ventures?

Lola Ventures is controlled by Australis Capital's CEO Terry Booth.

How will the funds from the credit facility be used?

The funds will be used for general working capital and to fuel revenue growth initiatives.

What is Australis Capital's stock symbol?

Australis Capital trades on the CSE under the symbol AUSA and on the OTCQB under AUSAF.

When was the credit facility with Lola Ventures announced?

The credit facility was announced on July 29, 2022.