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Australis Capital Inc. agreed to acquire Folium Biosciences LLC, a private manufacturer and distributor of cannabinoids, in an all-stock deal.
On completion, current members of Folium will own 89% of Australis Capital. Australis Capital, a venture capital firm that invests in cannabis and real estate, will rebrand as Folium Biosciences before the transaction.
Las Vegas-based Australis Capital plans to seek shareholder approval for the proposed transaction in the future.