Australis Capital Inc. AUSA AUSAF recently announced it has formally completed its submission to the New Jersey Cannabis Regulatory Commission (NJCRC) to convert its conditional licenses to Annual Adult Usage Cultivation and Manufacturing licenses.
According to a press release, once received, the annual licenses allow Australis Capital Inc. (AUDACIOUS) to grow, manufacture, sell, purchase and distribute recreational marijuana from its Millville facility in New Jersey.
The process of obtaining the New Jersey license is complex and requires the submission of significant detailed information, reads a press release.
Leah Bailey, chief business development officer, said it happened in steps. "This was a graduated process with many steps that we have successfully navigated and completed. The state will now review our final submission prior to granting the formal licenses.”
Bailey added that this positions it really well in a thriving market with close to 9 million people.
“We look forward to progressing with our project and commencing construction of our Millville facility, so we can serve New Jersey consumers with our quality products,” Leah continued.
NJCRC application requirements include Social Equity, Inclusion and Diversity Commitments, Municipal approvals, confirmation of location secured in Millville, Engineering and Design Specifications, Engineered Drawings, Standard Operating Procedures, Security Systems, Environmental Protection Protocols, and Seed to Sale Tracking.
"This is a major step forward for AUDACIOUS, made possible through the broad range of competencies we have in our company and a testament to the ability of our talented team to execute,” added Terry Booth, CEO.
“We are very pleased with our progress in New Jersey and look forward to informing our shareholders as we progress towards serving the New Jersey consumer with an awesome suite of sublime cannabis products. A successful application will without a doubt be a transformative event in the Company's history."
Raymond Compari, City Administrator and business development leader for the City of Millville, said this infusion of the cannabis industry in Millville is exciting.
“As one of the early pioneers to call Milleville home, AUDACIOUS sets the bar high,” Campari said. “The city highly anticipates the AUDACIOUS project start-up, as well as the resulting employment, and looks forward to a long and productive relationship."
Get your daily dose of cannabis news on Benzinga Cannabis. Don’t miss out on any important developments in the industry.
Photo: Courtesy Of David Groves On Unsplash
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
BENZINGA CANNABIS CONFERENCE
Meet the biggest cannabis industry players and make deals that will push the industry forward.
Featuring live company presentations, insider panels, and unmatched access to networking, the Benzinga Cannabis Capital Conference is where cannabis executives and entrepreneurs meet.
Join us April 11-12, 2023 at Fontainebleau Miami Beach in sunny Florida.