LAS VEGAS, April 8, 2020 /CNW/ – Australis Capital Inc. (CSE: AUSA) (OTC: AUSAF) (“AUSA” or the “Company”) is pleased to announce the completion of the acquisition of Paytron, LLC. (“Paytron”), a privately held omnichannel payment services provider, effective April 1, 2020. Paytron was acquired for $120,000 USD in AUSA shares, based on a 15-day volume-weighted average trading price, with royalty payments based on future performance milestones. Paytron expands and enhances Cocoon Technology’s™ (“Cocoon”) platform providing critical payment acceptance to capture incremental Cocoon related recurring revenue and additional revenue streams in North America.
The Paytron acquisition includes all active merchant accounts, access to Fiserv and TSYS processing platforms, existing processing partnership with Magnify Payments and reseller partnerships. By integrating payment processing into the CocoonPod™ kiosk and leveraging AUSA management’s deep expertise in payments, Paytron is positioned for significant growth while improving Cocoon’s core value proposition.
“Paytron will have an immediate impact to Cocoon’s current feature set and additional verticals in the future while accelerating Paytron’s baseline business concurrently,” said Marc Ruben, VP Payments, AUSA. “This is a fantastic opportunity for significant growth as an independent Merchant Services Provider in North America especially given recent business interruptions and evolving technologies.”
In addition, AUSA Management and Officers purchased a total of 1,727,020 common shares of AUSA representing 1.02% of the outstanding shares. The shares were purchased on both the CSE and the OTC between March 10, 2020 and April 6, 2020. The purchases were made for investment purposes.
About Australis Capital Inc.
AUSA operates and builds transformative, differentiated companies in highly regulated industries. AUSA adheres to stringent evaluation and operating criteria focusing on high-quality opportunities while maintaining a steadfast commitment to governance and community. AUSA’s Board and management team have material experience and extensive backgrounds in highly regulated industries and regulatory compliance. AUSA operating and portfolio assets include Cocoon Technology LLC, Cocoon Rewards (formerly Rthm Technologies Inc.), Paytron, LLC, Body and Mind Inc., Tsunami™, Provisions™, GT Flowers, Mr. Natural™, and Quality Green Inc.
The Company’s Common shares trade on the CSE under the symbol “AUSA” and on the OTCQB under the symbol “AUSAF”.
For further information about AUSA, please visit the website at ausa-corp.com or contact the Company by e-mail at [email protected].
ON BEHALF OF THE BOARD OF DIRECTORS
“Scott Dowty“
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Scott Dowty
Chief Executive Officer
Forward-Looking Information Statement
This news release contains statements and information that, to the extent that they are not historical fact, constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking statement speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all of such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. The Company does not undertake any obligation to update any forward-looking information to reflect information, events, results, circumstances or otherwise after the date hereof or to reflect the occurrence of unanticipated events, except as required by law including securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities.
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accept responsibility for the adequacy or accuracy of this release.
SOURCE Australis Capital Inc.
For further information: Brent Reuter, Senior Vice President, Investor Relations & Strategy, [email protected]
