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Australis Capital and Folium Biosciences Agree to Merger to Create a Publicly Held Vertically Integrated Producer of Non-Psychoactive Cannabinoids
Australis Capital and Folium Biosciences Agree to Merger to Create a Publicly Held Vertically Integrated Producer of Non-Psychoactive Cannabinoids.
About this update from Australis Capital Inc.
[{"type":"text","content":"\n\n\n\nAustralis Capital and Folium Biosciences Agree to Merger to Create a Publicly Held Vertically Integrated Producer of Non-Psychoactive Cannabinoids\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nAustralis Capital and Folium Biosciences Agree to Merger to Create a Publicly Held Vertically Integrated Producer of Non-Psychoactive Cannabinoids\nCanada NewsWire\nLAS VEGAS, Dec. 11, 2019\n\n\n\nLAS VEGAS, Dec. 11, 2019 /CNW/ - Australis Capital Inc. (CSE: AUSA) (OTC: AUSAF) (the \"Company\" or \"AUSA\") is pleased to announce it has entered into an agreement and plan of merger by and among AUSA, Folium Equity Holding LLC (\"Folium\"), and Folium Merger Sub, LLC, a newly formed and wholly-owned Colorado subsidiary of AUSA, (\"Merger Sub\") pursuant to which AUSA will acquire (the \"Proposed Transaction\") all of the outstanding Folium membership units not already owned by AUSA. The agreement was signed on December 10, 2019.  The Proposed Transaction will be completed by way of a merger between Folium and Merger Sub, and Folium will become a wholly owned subsidiary of AUSA. AUSA will be rebranded as Folium Biosciences (the \"Resulting Issuer\") prior to the Proposed Transaction and will carry on the current business of Folium.\n\n \n \n\n \n\"AUSA made a strategic investment in Folium almost a year ago after spending six months getting to know Kashif, his exceptional team, and their unparalleled proprietary ecosystem all supported by significant due diligence on the non-psychoactive cannabinoid space in the U.S. and abroad,\" states Scott Dowty, CEO of AUSA. \"AUSA is uniquely positioned to add immediate and material value to Folium with a management team with combined decades of experience in public companies to guide Folium as the newly-legal CBD market in the U.S. continues to grow. Folium's core tenants 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&...