Cannabis Movers & Shakers: Australis Capital, Boldt Runners

Executive Chair Resigns From Australis Capital 

Australis Capital Inc., which invests, operates, and builds companies in the cannabis industry, confirmed Thursday that Executive Chairman Scott Dowty resigned from the board.

The news is coming on the heels of reaching a settlement agreement concerning the recently terminated acquisition of Passport Technology Inc.

AUSA said it would hold on to the fees generated from its customers. The fees will rest with its subsidiary, Cocoon Technology LLC.

Passport would also obtain AUSA's interest in Paytron, LLC, which the Las Vegas-based company acquired earlier this year.

The company noted that Dowty opted to surrender his unvested stock options in exchange for 4.25 million AUSA's common shares.

He will also hold on to his restricted share units.

"We are pleased to have reached an amicable settlement agreement with both Passport and Mr. Dowty," said Cleve Tzung, AUSA's CEO. "This settlement represents a fair and reasonable resolution between AUSA and Passport, and an equitable separation between the Company and Scott."

Boldt Runners Taps Former Tobacco Exec

CBD manufacturer Boldt Runners Corp. appointed Maura Scott as chief sales officer and chief compliance officer.

Per High Times, Scott is a tobacco industry veteran who previously worked as vice president of northeast region sales for Altria Group.

“I am excited to be part of the Boldt Runners team,” Scott said, calling Boldt's Cannadips CBD a brand that has "great potential in the marketplace for tobacco alternatives."

Scott will oversee all aspects of the company’s marketing, sales, distribution — customer relationships, enhancing distribution logistics, growing the Cannadips CBD brand —  and compliance.