Australis Capital Inc (OTCMKTS: AUSAF) is on track to double its revenues in 2021 despite ALPS working for three weeks towards the end of March 31, 2021. It is on the backdrop of the progress of several projects.
Raises a capital of CAD 2.5 million
Australis expects to sign new projects soon and report higher revenues in Q1 2022. It will raise CAD 2.5 million for working capital needs by divesting the land it garnered through the acquisition of Green Therapeutics.
The company expects to maintain a strong financial position with significant growth at its GT and ALPS besides other liquid assets.
Eyes expansion into New York adult-use market
Australis plans to expand into the market of New York following the legalization of adult-use cannabis.
It is negotiating with several partners for entry into New York, the 4th most populous city in the US. The market for legal cannabis in the state expects to reach $1.2 billion in 2023 and $4.2 billion in 2027.
Australis is mobilizing license application specialists, all-star operators, and influencers to facilitate entry into New Jersey and New York.
CEO of Australis, Terry Booth, said the company plans to become a leading player in cannabis in Eastern US. In the previous eight months, the company discussed several potential partners to advance in the adult-use cannabis market.
UFCWIU approaches Benchmark Botanics Inc (OTCMKTS:BHHKF)
Potanicals Green Growers Inc, a Benchmark Botanics Inc (OTCMKTS:BHHKF) subsidiary, received a communication from UFCWIU (United Food and Commercial Workers International Union) and Local 1518. As per the notice, the union intends to represent the employees working at Peachland facility of Potanicals and requested certification.
The employees of Potanicals’ Peachland facility enrolled in the union on March 31, 2021. Potanicals ratified the first collective agreement recognizing the union.
The collective agreement comprises a contract-backed and established grievance procedure to solve worker’s problems at the workplace. Potanicals agreed to enact a new wage scale with an increase based on the number of working hours. The employees are eligible to use five paid sick leaves every year.
Benchmark stopped its cultivation and growing operations at its Peachland, as previously informed on November 16, 2020, to review its business strategy and options.
Benchmark appointed an interim CEO – Terry Wang, on March 18, 2021.