Australis Capital Inc., operating as Audacious (CSE: AUSA) (OTC: AUSAF) is buying LOOS, a cannabinoid-infused shot beverage company based in Santa Cruz, California. The amount of the transaction was not disclosed.
CEO Terry Booth added, “Furthermore, this transaction also signals our intended entry into the CBD infused drinks market. Acquiring LOOS and the team behind the brand gives us a head start and adds another product and revenue-generating line to our portfolio.”
“With LOOS we are adding a fresh and exciting brand and consumer segment with compelling products that offer a unique user experience,” said Leah S. Bailey, Chief Business Development Officer of Audacious. “The deal is structured to ensure full alignment with AUSA shareholder interests.”
LOOS products are all-natural, vegan, gluten-free, low sugar, low calorie, and are based on a unique nano-emulsion technology platform for rapid onset. According to a company statement, Loos plans to release a number of other products across several key categories, including CBD-infused shots. That makes it easy for consumers, who typically use tincture bottles for their CBD, to get their daily dose.
LOOS Founders Anthony Bendana and Ben Koppel stated jointly, “We believe this industry should aspire to the highest ideals of the cannabis pioneers that powered it into existence and want Loos to be an ambassador for the type of radical empathy, compassion, and community we could all use to help us stay loose. We are excited to join forces with Audacious whose philosophy and values closely match ours.”
Following completion of the transaction, the LOOS founders will join the Audacious Sales team reporting to Dr. Duke Fu, Chief Operation Officer and the Business Development team, reporting to Chief Business Development Officer (“CBDO”) Leah S. Bailey.