Business
Australis Capital Announces Its Intention To Vigorously Defend Against Lawsuit
Australis Capital Announces Its Intention To Vigorously Defend Against Lawsuit.
About this update from Australis Capital Inc.
[{"type":"text","content":"\n\n\n\nAustralis Capital Announces Its Intention To Vigorously Defend Against Lawsuit\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 Announces Its Intention To Vigorously Defend Against Lawsuit\nPR Newswire\nLAS VEGAS, July 3, 2020\n\n\n\n\n LAS VEGAS, July 3, 2020 /PRNewswire/ - Australis Capital Inc. (CSE: AUSA) (OTC: AUSAF) (\"Australis\", \"AUSA\" or the \"Company\") today announced that it intends to vigorously defend itself against claims made by Green Therapeutics LLC and Meridian Companies LLC (the \"Plaintiffs\"). \n\n \n \n \n \n \n \n\n \nOn June 29, 2020, the Plaintiffs served Australis with a lawsuit. It is the contention of Australis that the Plaintiffs' complaint of breach of contract is without merit and is an opportunistic ploy to reverse two separate and legitimate, closed deals in which Green Therapeutics sold to Australis certain cannabis licenses, brands, and other assets in exchange for common shares of Australis, and Meridian sold to Australis certain real property. It is noteworthy that, with respect to the asset purchase agreement, the State of Nevada has placed a moratorium on cannabis license transfers since October of 2019, which has adversely impacted Australis' ability to realize any investment returns and for which Australis has not sought remuneration or relief from Plaintiffs.  \nAbout Australis Capital Inc.\nAUSA invests in, operates and builds transformative, differentiated companies operating in highly regulated industries. Initially focused on investments in the cannabis industry, AUSA has expanded its business to offer proprietary unattended hardware and software technology to industries with the highest regulatory compliance standards along with supporting payment and fulfillment services. The globally available kiosk platforms are purpose-built in the cloud to deliver custom solutions in complex environments while emboldening customer confidence with features including data analytics, privacy, security and regulatory compliance.  The Platform-as-a-Service (PaaS) techn...