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Australis Capital Announces Expansion of Fintech Platform to Include Gaming Through Proposed Acquisition of Passport Technology and Private Placement of Units
Australis Capital Announces Expansion of Fintech Platform to Include Gaming Through Proposed Acquisition of Passport Technology and Private Placement of Units.
About this update from Australis Capital Inc.
[{"type":"text","content":"\n\n\n\nAustralis Capital Announces Expansion of Fintech Platform to Include Gaming Through Proposed Acquisition of Passport Technology and Private Placement of Units\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nAustralis Capital Announces Expansion of Fintech Platform to Include Gaming Through Proposed Acquisition of Passport Technology and Private Placement of Units\nCanada NewsWire\nLAS VEGAS, June 25, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES./\n LAS VEGAS, June 25, 2020 /CNW/ - Australis Capital Inc. (CSE: AUSA) (OTC: AUSAF) (\"AUSA\" or the \"Company\") is pleased to announce two transactions that are each contingent on the successful conclusion of the other.  The Company has entered into an agreement to acquire Passport Technology Inc. (\"Passport\"), upon the terms set forth below (the \"Passport Acquisition\"), leveraging Passport's international footprint in brick and mortar casinos with AUSA's Cocoon Technology serving cannabis dispensaries in North America and AUSA's Paytron Merchant Services (\"Paytron\").  In connection with and contingent on completion of the Passport Acquisition, AUSA also announces a non-brokered private placement of units of the Company (the \"Units\") at $0.28 (CAD) per Unit, to raise gross proceeds of a minimum $5,000,000 and maximum $8,000,000 (CAD) (the \"Private Placement\").\nPassport and Cocoon Technology operate in highly regulated compliance centric environments with growth driven by emerging markets, demographic shifts, and evolving technology. This consolidation adds a unique fintech business to AUSA's portfolio of assets, poised to capture significant market share through the Platform-as-a-Service (\"PaaS\") technology stack delivering recurring revenue through long-term exclusive agreements and highly scalable profitability. Passport and Cocoon Technology's PaaS resides in the cloud and is easily duplicate...