Australis Capital Inc (CSE:AUSA, OTCQB:AUSAF), doing business as Audacious, said Derek Higgins will join the company as its CFO, replacing Jon Paul who has agreed to act in an advisory capacity during a transitionary period.
Higgins will be joining the company as a special advisor, effective immediately, and is expected to be appointed as CFO upon board approval, which is anticipated in early to mid-January.
Higgins has over 20 years of public and private company financial expertise in preparing venture-backed startups for public listings, representing shareholders, and implementing comprehensive profitability and working capital plans, the company noted in a statement.
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Audacious chairman Hanoz Kapadia thanked Paul for his efforts for the company and wished him well with his future endeavours.
“We are grateful he has agreed to serve as an advisor while we transition this leadership role,” Kapadia said.
He added that the company was very pleased to have been able to secure the services of Higgins, who he noted comes with an exceptional industry track record, including CFO positions with major cannabis companies, such as Glass House Brands and FLRish/Harborside.
“His background in leading the finance function, as well as his proven track record in fundraising, are key skills that we believe will greatly benefit AUDACIOUS going forward as we execute on our growth strategy,” Kapadia said.
Audit update
The company added that it continues to work closely with its auditors to file its financial results.
Audacious said good progress has been made, and the company is confident it will complete the filing within the coming weeks.
Audacious is a next-generation MSO growing the cannabis industry of tomorrow from the ground up, led by industry pioneer Terry Booth and an accomplished management team with proven industry track records.
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