Australis Capital Inc. announced that the company has entered into an agreement with Hempire Farms, LLC (Hempire). The agreement between Audacious and Hempire is contingent upon state approval. AUDACIOUS and Hempire intend to commence planting its first batch of adult use cannabis towards the end of June 2022, with first harvest anticipated some 8-10 weeks later.

Under the regulations, the Company is allowed to have one acre of canopy, which equates to approximately 1.5 acres in total space. Based on its deep experience in cannabis cultivation, the Company anticipates this to yield approximately 2,100 lbs of dried flower and trim. The operations will be located in Broome County, New York.

As announced by the regulators, intent is for product to be sold through the first batch of adult use dispensaries, with approximately 150 retail licenses to be awarded to social equity applicants. Expanded early mover advantage; With work commenced at the Company's project with its partner First Americans of the Saint Regis Mohawk Tribe, this is AUDACIOUS' second early start project in New York State. (NYS) While adult use has been legalized, industry insiders anticipate that operators under the new licenses for hemp farmers provide an early mover advantage of at least one year.

During this time, AUDACIOUS will be able to introduce its products to the New York market and build up market share and brand recognition. Quick start cultivation operations have been designed in the past months by the company's majority owned subsidiary ALPS, whose crop consultants have developed optimized operational protocols to ensure the company will be able to serve the market with high quality product.