Australis Capital Inc. (CSE: AUSA) announced this morning that their company has completed a non-brokered private placement of the company’s common stock to raise of total of $30 million dollars by issuing 14,778,325 units at a price of $2.03 per unit.
Their company impressively needed to increase the initial offering due to oversubscription, allowing them to raise an additional $2 million dollars via opening a second tranche. Each share sold was accompanied by a warrant worth half of a share of Australis Capital’s stock. Each warrant
will allow the purchaser to buy a share of
the company at $2.65 per share any time before 10-25-20.
Australis Capital Inc. focuses on the development of an investment portfolio directly involved and related to cannabis companies located in the United States. Possibilities of future investments made by the company could be involved in, “equity, debt or other securities of both public and private companies, financings in exchange for royalties or other distribution streams, and control stake acquisitions.”
The company’s management has extensive experience in investments, highly regulated industries, and public company regulations.
Michael Carlotti, Chief Financial Officer of Australis said, “We are very pleased to have successfully closed on our first capital raise as a public company. Our ability to complete this transaction in a currently challenging capital markets environment demonstrates the unwavering support by our new and existing investors and their belief in the future prospects of Australis and its unique business model. We look forward to prudently deploying this capital in investments that we believe will create significant shareholder value for our investors.”