Australis Capital closes deals with Body and Mind, Rthm Technologies.
M2 EQUITYBITES-November 13, 2018-Australis Capital closes deals with Body and Mind, Rthm Technologies
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Australis Capital Inc. (CSE: AUSA) has announced it has completed its investment in Body and Mind Inc. (CSE: BAMM) (USOTC: BMMJ) and the acquisition of Rthm Technologies, Inc., the company said.
BaM is a publicly traded company with numerous years of experience as one of Nevada's first medical cultivators, producers and brands. BaM has recently expanded into Ohio and invests in high quality medical, recreational cannabis cultivation and production and retail.
Rthm is a private company that has developed a complete suite of proprietary technology including advanced heart rate tracking and analysis algorithms and comprehensive circadian rhythm mapping techniques, which is among the most advanced digital health platforms in the world.
Pursuant to the terms of the Rthm acquisition, the Company has paid the following consideration to the shareholders of Rthm: (a) CDN 800,000 in cash payments, (b) an aggregate of 1,742,611 common shares of Australis, and (c) and aggregate of CDN 200,000 in promissory notes, which become payable upon certain patents being granted to Rthm. In addition, the Company will issue common shares of Australis to the shareholders of Rthm with an aggregate value of CDN 1,250,000 upon the achievement of certain milestones.
Australis Capital Inc. identifies and invests in the cannabis industry predominately in the United States, a highly regulated, fragmented, rapidly expanding and evolving industry. Investments may include and are not limited to equity, debt or other securities of both public and private companies, financings in exchange for royalties or other distribution streams, and control stake acquisitions.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Nov 13, 2018|
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