Australis Capital, the Las Vegas-based investment group that spun off from Canadian giant Aurora Cannabis, said it will acquire certain brands and cultivation assets of Nevada’s Green Therapeutics for roughly $8 million.
The deal includes the right to develop a 55,000-square-foot production facility in North Las Vegas with the potential to expand it into a 400,000-square-foot enterprise.
The land acquisition involved a separate $2.93 million purchase from Meridian Cos.
The brands acquired from Green Therapeutics include Tsunami Provisions and GT Flowers.
Australis, which trades on the Canadian Securities Exchange under the ticker symbol AUSA, will initially issue stock worth $6.4 million with an additional $1.6 million dependent on the development and performance goals of the facility.
More details on the acquisition can be found here.