Australis Capital Inc., operating as Audacious, has entered into a binding terms sheet to acquire all of the issued and outstanding shares of Gary Maverick Inc., operating under the brand name LOOS, a cannabinoid-infused shot beverage company, based in Santa Cruz, CA.
With LOOS, Audacious is adding a new brand and product line to its portfolio aimed at a generally cannabis savvy and influential target market, which cuts across numerous demographics and reaches both the cannacurious and more experienced consumers.
Loos' management team brings over a decade of collective experience in cannabis with brands such as Plus Products, 710 Labs, Loudpack, and Flow Kana. The brand’s first product, a 2-oz. shot infused with 100mg THC, is available in three flavors: Orange Crush Sativa, Green Dream Hybrid, and Lavender Indica. Each flavor features a unique terpene profile.
The products are based on a unique nano-emulsion technology platform for rapid onset, are vegan, gluten free, low sugar and low calorie. After entering the market in the 2-oz. drink category, Loos plans to release a number of other products across several key categories, including CBD-infused shots.
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 Leah S. Bailey.
"Launching a logistics-light SKU into the beverage market, I have always believed, will make all the difference in accelerating sales in this category,” Audacious CEO Terry Booth says. “Furthermore, this transaction also signals our intended entry into the CBD infused drinks market, which industry insiders anticipate may become one of the most important product categories in our industry. Acquiring LOOS and the team behind the brand gives us a head start and adds another product and revenue generating line to our portfolio. as well as sees Audacious increasing our presence in California."