Australis Capital Inc. has appointed Squar Milner, LLP as its auditor. Squar Milner, LLP will replace MNP, LLP effective November 27, 2019.
AUSA’s engagement partner, Sam Salty has more than 15 years of experience in the public accounting industry focused on IPO’s/secondary offerings, M&A and due diligence. The firm has 34 SEC registrants, 6 Canadian public clients, and 28 Cannabis clients. Squar Milner has been registered with the Public Company Accounting Oversight Board since 2003 and are members of the American Institute of Certified Public Accountants.
AUSA also announces that it has finalized its engagement of ASTOUND GROUP (“ASTOUND”) referenced in the press release issued on July 21, 2019. AUSA has entered into a three-year agreement with ASTOUND to provide brand optimization, expand brand awareness of brand stories, and introduce new products under AUSA’s existing house of brands, including Mr. Natural™, Tsunami™, Provisions™, GT Flowers™, and CocoonRewards™ as well as any new future brands. For the services, the Company has issued consideration of 5 million shares of Body and Mind, Inc. common stock currently held by the Company to ASTOUND.
“We are pleased to have finalized our partnership with ASTOUND,” said Michael Carlotti, CFO of AUSA. “The ability to lock-in these services at a fixed cost enables AUSA to manage cash flow over the three-year term while gaining the expertise of a world-renowned marketing firm.”
In addition, the Company finalized the consideration for its license agreement with Passport Technology, disclosed in the press release dated October 29, 2019. This consideration is for the prototype development, conversion of Passport’s self-service platform to service the cannabis industry, a 10-year exclusive relationship and ongoing product enhancements, exclusive software rights and exclusive use of vendor relationships at cost. The Company issued total consideration of $4,175,000 USD, which included $375,000 USD cash, 5 million shares of Body and Mind, Inc. common stock currently held by the Company, and 1,829,219 shares of AUSA common stock to Passport Technology. Passport Technology is a privately held corporation, of which 51% is held by Wyvern Capital which is an entity controlled by the issuer’s CEO.