Australis Capital Inc. (CNSX:AUSA) entered into a binding term sheet to acquire Gary Maverick Inc. for $3.1 million on July 14, 2021. Total consideration comprising $0.65 million payable in 3,163,314 shares on closing, $0.35 million in cash on closing to be towards working capital, and $2 million in contingent payments payable in the Australis Capital's shares, subject to certain performance milestones being met by LOOS Co. through June 2023. Australis Capital Inc. will be operating its adult use operations under the AUDACIOUS name. Following completion of the transaction, the LOOS founders will join the Audacious sales team reporting to Duke Fu, Chief Operation Officer and the Business Development team, reporting to Chief Business Development Officer, Leah S. Bailey. Anthony Bendana has been appointed VP West Coast Sales for Audacious. The transaction is largely back-end loaded with milestones based on revenues and EBITDA. It is anticipated that the transaction is to become accretive rapidly. Ben Koppel and Anthony Bendana will be added to the Australis Capital team.

Australis Capital Inc. (CNSX:AUSA) completed the acquisition of Gary Maverick Inc. for $0.5 million on January 13, 2022. As part of the consideration for the transaction, Australis Capital issued a total of 4,687,500 common shares.