Benzinga | Jan 13, 2022 11:49AM EST

Audacious Ramps Up Footprint In California's Canna-Beverage Market With LooS Acquisition

Australis Capital Inc. (CSE:AUSA) (OTC:AUSAF), which operates as Audacious, reported Thursday that it has wrapped up its acquisition of LooS, a cannabinoid-infused shot beverage company, based in Santa Cruz, California.

The move follows the company's foray into the Asian market via a deal with Thailand-based Golden Triangle Health, a subsidiary of NR Instant Produce PCL, a southeast Asian food manufacturer and distributor.

What Happened

As part of the transaction, the Las Vegas-based company issued a total of 4.7 million common shares.

Why It Matters

The acquisition expands Audacious's portfolio by adding LooS products that are based on a unique nano-emulsion technology platform for rapid onset, which are vegan, gluten-free, low sugar and low calorie.

The 2-oz. shots are infused with 100mg THC (5 mg per serving) and are available in three flavors, including Orange Crush Sativa, Green Dream Hybrid and Lavender Indica.

Each flavor features a unique terpene profile and has less than 3 mg. of sugar per bottle.

"I am very proud of how well the LooS brand resonates with the discerning Californian cannabis community, as reflected by our last production runs selling out in short order," said Audacious CEO Terry Booth.

What's Next

Booth said that they can now "go full throttle and significantly ramp up production and marketing initiatives with retail and delivery partners across California to meet growing demand.

"We have big plans for LooS and intend launching the brand in other jurisdictions we are operational in. Anthony and Ben, the co-founders, have done a great job in generating sales momentum, further strengthened by the incredible reach of the Eaze delivery platform," Booth added.

More recent news from Audacious:

* Audacious Reports 2,068% YoY Growth In Q2 Revenue, Anticipates Q3 Revenues North Of $3M

* Audacious Secures $20M Funding & Closes $3.1M Non-Brokered Private Placement Tranche

* AUDACIOUS To Enter New York's Cannabis Market Via Partnership With First Americans Of Saint Regis Mohawk Tribe

* Cannabis Movers & Shakers: YourWay Cannabis, Indiva, Australis Capital, USCC

AUSAF Price Action

Audacious' shares traded 4.06% higher at $0.1187 per share at the market close on Wednesday.

Photo: Courtesy of Australis Capital Inc