Australis Capital Inc (CSE:AUSA, OTCQB:AUSAF), doing business as Audacious, announced that its wholly-owned AUDACIOUS NJ, LLC subsidiary has now received approval from the municipality of Millville, New Jersey for its planned cannabis facility.
The cannabis multi-state operator (MSO) said the final milestone has been met, which clears the way for a submission to the state for conversion of its provisional license to a final license.
“Once our full license is granted, we will have added yet more value to the company in a state that has incredible potential,” Audacious CEO Terry Booth said in a statement.
READ: Audacious reports 1,200% year-over-year revenue jump; record gross margins
“Combined with our other East Coast projects, we are one of few, if not the only MSO with adult use operations in New Jersey and New York,” Booth added.
Audacious noted it intends to construct a more than 100,000-square foot controlled environment agricultural ALPS Achieve Series facility on the site, which is capable of producing over 24,000 pounds of dry flower per year.
The company added that cultivation and manufacturing systems will be Good Manufacturing Practice (GMP) compliant and will address state and municipal safety and environmental requirements.
Audacious is a next-generation multi-state operator growing the cannabis industry of tomorrow from the ground up.
Contact Sean at sean@proactiveinvestors.com