Australis Capital Inc. AUSAAUSAF and its partner, First Americans LLC, have commenced with the construction of its New York cultivation, manufacturing and retail project located on the Saint Regis Mohawk territory.
"Early market entry into New York has been a core element of our strategy and we are 100% executing on this," Terry Booth, CEO of AUDACIOUS stated. "With first products hitting the market around October, we are well ahead of the general market, which is still waiting for the full regulations on how adult use will be introduced throughout the entire state. This partnership with First Americans shows how AUDACIOUS is a preferred partner who is able to translate its operational excellence into capex light entry for new, high growth markets. We look forward to working with Rick Hamelin, President of First Americans, and his team to claim our position among the market leaders in New York state."
While the project eventually will see the construction of an ACHIEVE12 facility, to expedite having product on shelves, the companies have commenced with the construction of a low cost, customized growing system, utilizing top class auto-flower genetics, selected for their THC potency, high yields, quality and market appeal. The cultivation system employed by the partnership will benefit from technology measures to mitigate the effects of inclement weather while at the same time benefiting from full sun and utilizing the latest in crop management techniques. All materials have been ordered, the irrigation is expected to be delivered shortly and growing activities are anticipated to commence late June/early July 2022 with first harvest commencing in September. Processing of harvested material will happen on site as well for the manufacturing of derivative products for which the company is widely known through its award-winning brands Tsunami and Provisions.
Dispensary construction commenced
Additionally, the company announced that construction of the first dispensary on the Saint Regis Mohawk territory has commenced as well. Construction is anticipated to be completed in time to carry the first products from the outdoor facility. This first dispensary will be located immediately adjacent to the Akwesasne Mohawk Casino Resort, which attracts close to 2.4 million visitors annually.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- Earn global recognition for your achievements.
- Shine a spotlight on the people around you that deserve their moment.
- Celebrate with the newest, hottest and most successful in the cannabis industry.
Join us on September 27-28, 2023 at Chicago Marriott Downtown Magnificent Mile in Chicago, IL.