Leah S. Bailey Brings Strong Cannabis and CPG Track Record to Drive Growth of AUSA
LAS VEGAS, May 17, 2021 /CNW/ – Australis Capital Inc. (CSE: AUSA) (OTC: AUSAF) today announced that Leah S. Bailey has joined the company as Chief Business Development Officer, where she will drive commercial initiatives and provide leadership to the company’s corporate development team. With this appointment, AUSA is adding a proven leader with a strong track record in driving revenues and profitability in both the cannabis and consumer packaged goods (CPG) sectors. Previously, Leah was CEO of Fluresh, a U.S. vertically integrated cannabis company based in Michigan, where she built the operation and organization from a startup to become one of the top cannabis businesses in the state. Ms. Bailey holds several directorships with companies such as well-known medical cannabis science leader Tikun Olam USA and Scott’s Liquid Gold, as well as is an operating partner for a social equity applicant for craft grow in Illinois.
Prior to her career in the cannabis industry, Ms. Bailey held senior executive positions with internationally renowned CPG companies, such as President of Global Beauty at Helen of Troy Limited (“HOT”). Previously, she was the President & CEO of Paris Presents and held senior management and marketing roles with Alberto Culver (Unilever), GTE Telephone Operations (Verizon), Jovan (Coty), and Quaker Oats (Pepsi). She also led a venture capital backed start-up, Tellaire, which supplied fixed optical wireless telecommunications services. Ms. Bailey holds a BA from Johns Hopkins University and an MBA from Harvard University.
“To fill this important role, we were looking for someone with a proven track record of translating success in the CPG sector to the cannabis industry. When Leah’s name came up and we then met, the fit was obvious, and we are delighted that she has agreed to join us,” said Terry Booth, CEO. “In addition to her proven leadership skills in making teams and companies succeed, Leah brings the strategic capabilities and network required to execute in the eastern United States. With Leah Bailey, CBDO, and Jon Paul, our CFO, both based out of Chicago, we are able to leverage their strong connections in the Eastern U.S. to accelerate our execution in this region. I look forward to working closely with Leah as we continue to build AUSA into a unique and highly successful MSO.”
Ms. Bailey commented, “Three key differentiators attracted me to AUSA: a leadership team with a stellar track record in driving growth and innovation, a unique and ambitious strategy, and a corporate culture carried by a team of high-achievers driven to succeed collaboratively. I have done a deep dive into the Company, its pipeline of opportunities and its assets, and I have come away highly impressed. Consequently, I am a strong believer that AUSA is positioned to be exceptionally successful. I am proud to be taking on this role and to work with Terry Booth and the team to take AUSA to the next level in its development.”
CEO Terry Booth in closing stated “AUSA has truly re-entered the American cannabis space, and Leah is an extremely important addition to our team. We have a sound plan and are ready to ignite, excite and delight our shareholders and clients with passion, experience, knowledge and quality.”
AUSA is at its roots a community and culture-based cannabis company, originally founded by Steve Dobler and Terry Booth, the founders of Aurora Cannabis Inc. After the completion of a dissident shareholder battle that ended with convincing shareholder approval, Terry Booth, former Aurora CEO, who had to step away from AUSA upon spin off, re-joined AUSA as CEO in December of 2020. Since then, the company has reset the direction of AUSA and in just 5 months has closed multiple accretive transactions, improved legacy contracts, established a world class Executive Team, resolved previous executive and board exits. AUSA is looking forward to becoming a profitable tier 1 Multiple State Operator in the medical and adult usage cannabis sectors.
Also, in the same 5-month time frame, AUSA with its acquisition of ALPS has entered the global Sustainable Controlled Environment Agriculture Industry, a rapidly growing segment of the global horticulture market. ALPS provides customized designs along with multiple services that allow operators to maximize yield and quality while minimizing inputs and resources, including labor. ALPS at present is active on cannabis and traditional horticulture projects across the globe, including the U.S.A., the E.U., Australia, New Zealand, Iceland, the Middle East, South East Asia and Canada. Total Capex committed by ALPS’ clients since Aurora divested its interest just 12 short months ago during the covid crisis, stands at approximately $1 billion, with a rapidly growing business development pipeline approaching $4 billion in total Capex to be spent by potential clients over the next 24 months.
AUSA’s business assets include: a 51% ownership interest in ALPS, a milestone weighted deal with an option to acquire the remaining 49% of ALPS – Cocoon (wholly owned), a company changing the dispensary customer user experience through self-service kiosks – land assets in Bellingham, Washington – as well as the iconic West Coast brand Mr. Natural. AUSA furthermore has investments in Body and Mind Inc., a U.S. MSO, and Quality Green, a Canadian licensed producer. The Company also has executed a term sheet for a JV partnership with U.S. and Canada based 3 Rivers Biotech for plant tissue culture, genetics clean-up and micro propagation. AUSA and Green Therapeutics, an award-winning MSO, have finalized and agreed to all terms with respect to AUSA’s 100% acquisition (subject to regulatory state licensing approvals).
AUSA cannabis assets and ALPS cannabis projects now include Arizona, Nevada, Washington, Missouri, Oklahoma, and California with many other states being evaluated and negotiated.
The Company’s common shares trade on the CSE under the symbol “AUSA” and on the OTCQB under the symbol “AUSAF”.
Chief Executive Officer
This press release contains “forward-looking information” within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein is forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. In particular, this press release contains forward-looking information in relation to: the timing and ability to close the second stage of the GT transaction; the anticipated development of the GT business and its ability to complete proposed agreements and grow revenues; the ability of the Company to scale up the GT assets across multiple jurisdictions; the ability of GT to complete the land acquisition and execute on its stated strategy for this land; the ability for the Company to be able to execute on its plans for expansion in New York, New Jersey, Massachusetts, Pennsylvania, Oklahoma, Missouri and other markets; the ability of ALPS to convert its pipeline into contracts; the impact of the changes to U.S. federal and state statutory developments with respect to the cannabis industry and the opportunities this may present for the Company; and the Company’s current liquidity. This forward-looking information reflects the Company’s current beliefs and is based on information currently available to the Company and on assumptions the Company believes are reasonable. These assumptions include but are not limited to the ability of the Company to successfully satisfy the conditions to closing the proposed transaction; the ability of the Company to successfully execute on its plans for the Company and GT; legal changes relating to the cannabis industry proceeding as anticipated.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; the actual results of the Company’s future operations; competition; changes in legislation affecting the Company; the timing and availability of external financing on acceptable terms; lack of qualified, skilled labour or loss of key individuals; risks related to the COVID-19 pandemic including various recommendations, orders and measures of governmental authorities to try to limit the pandemic, including travel restrictions, border closures, non-essential business closures, service disruptions, quarantines, self-isolations, shelters-in-place and social distancing, disruptions to markets, economic activity, financing, supply chains and sales channels, and a deterioration of general economic conditions including a possible national or global recession; and a deterioration of financial markets that could limit the Company’s ability to obtain external financing.
A description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company’s disclosure documents on the SEDAR website at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking information contained in this press release is expressly qualified by this cautionary statement. The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, are subject to change after such date. However, the Company expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accept responsibility for the adequacy or accuracy of this release.
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SOURCE Australis Capital Inc.