After a bitter proxy battle, Aurora Cannabis founder and former president Terry Booth has been tapped as CEO of Australis Capital (AUSA), a cannabis investment firm once owned by the Edmonton producer. He’s wasted no time in executing on a strategy to move Australis along its path toward being a plant-touching multistate operator.
“We anticipate that this transaction, upon its completion, will be game-changing and immediately accretive, and marks the first and crucial step in the transformation of AUSA to become the Company it was always meant to be: a profitable and rapidly growing MSO,” Australis interim CEO Duke Fu said in a statement.
If the ex-CEO of Aurora taking charge of a former Aurora subsidiary just as it acquires a property once owned by the Edmonton-based cannabis producer sounds like déjà vu, Booth insists it isn’t. ALPS’s greenhouse technology will, however, play a decisive role in Australis’ business model.
“What we’ve come up with as far as the strategy and vision for Australis is not an Aurora 2.0 or anything like that. There’s going to be a low [capital expenditure] model; we’re not going to go and build