Cannabis Firm Australis Capital Is ‘Not an Aurora 2.0,’ New CEO Terry Booth Says – Cheddar

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.

Booth’s appointment came as part of a deal to acquire a 51 percent stake in ALPS, formerly Aurora Larssen Projects, a horticultural facility design, construction, and management company once owned by Aurora Cannabis. Australis Capital itself spun off from Aurora in September 2018 and subsequently listed on the Canadian Securities Exchange in order to legally invest in U.S. cannabis assets.

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