The co-founder of marijuana producer Aurora Cannabis, Terry Booth, has been tapped to become the chief executive of US-based Australis.
Booth said he plans to return to the marijuana industry to head up a U.S.-based cannabis investment firm that is an Aurora spinoff.
It has been eleven months since Booth stepped down as CEO of Aurora Cannabis.
Australis also announced this week a nonbinding deal to acquire 51% of ALPS, formerly Aurora Larssen Projects.
ALPS is a global player in the design and construction of cultivation facilities, according to a news release. Australis also has an option to purchase the remaining 49%.
Aurora divested its stake in Larssen in May 2020 “for a nominal amount,” according to a regulatory filing.
A condition of the proposed ALPS acquisition was that Booth become CEO of Australis when the transaction closes.
“We’re going to kill it,” Booth said to Marijuana Business Daily.
“The motto of that is for Australis to build facilities for others. We’re not doing an Aurora 2.0 here.”
Australis has also recently announced its planned acquisition of Green Therapeutics, a Nevada medical marijuana business.
Australis trades on the Canadian Securities Exchange under the ticker symbol AUSA.