LAS VEGAS, Oct. 29, 2019 /PRNewswire/ - Australis Capital Inc. (CSE: AUSA OTC: AUSAF) ("AUSA" or the "Company") is pleased to announce the formation of Cocoon Technology LLC ("Cocoon"), a cloud-based, self-service fulfillment platform and wholly-owned subsidiary of AUSA. Designed to enhance the consumer experience and reduce labor costs, Cocoon delivers operational efficiency to dispensaries while improving order fulfillment, cash management, bankcard acceptance, data analytics, customer loyalty, marketing, privacy, and compliance. Cocoon's Platform-as-a-Service model delivers contracted recurring revenue, one-time revenue, exclusive multi-year agreements, enhanced product offerings and an extensive runway of future innovations.
With the launch of CocoonPod®, Cocoon unites state-of-the-art self-service kiosks with mobile applications, platform agnostic integrations into leading enterprise resource planning (ERP)/business management systems, and payment providers. CocoonPod® features consumer-facing kiosks as stand-alone units or multi-unit pods as the core consumer point-of-interaction (POI), coupled with a consumer mobile application and tablet for employee assisted self-service transactions, providing a full omni-commerce solution for brick-and-mortar locations.
"The benefits of deploying self-service technology have been demonstrated across all brick-and-mortar retail sectors in the United States and AUSA's management experience and leadership in self-service technology positions AUSA for immediate success across North America," states Michael Carlotti, Chief Financial Officer of AUSA. "The estimated market opportunity for kiosk sales to dispensaries in the United States over the next five years is 50,000 units with a recurring revenue model based on a percentage of sales initiated within CocoonPod®. Cocoon has met with leading Multi-State Operators (MSO) and focus groups with conservative assumptions suggesting 60-80% of returning customers will choose to initiate their purchase through a self-service POI."
CocoonPod® functionality delivers reduced transaction times, privacy, coin-less cash recycling, payment gateway, ATM processing, ID validation, QR codes, consumer loyalty, charitable donations, and numerous marketing opportunities through a dynamic user interface. By integrating Coil®, a loyalty and data application built by AUSA's wholly-owned subsidiary Rthm Technologies ("Rthm"), CocoonPod® also offers fully integrated loyalty functionality for consumers, now branded as CocoonRewards®.
"Since being acquired by AUSA the Rthm team has created the industry's most powerful data-driven mobile loyalty application which will integrate directly within the CocoonPod® platform providing operators and consumers a user experience and point-of-purchase options never before available," states Alex Mosa, President of Rthm. "We are excited to release this impactful product into the U.S. market."
CocoonPod® self-service kiosks and integrated form factors were developed in partnership with Passport Technology Inc. ("Passport"), the International award-winning technology provider to brick-and-mortar casinos and hospitality. With over a decade of experience developing robust, intuitive, aesthetically pleasing self-service kiosk technology, payment applications, loyalty rewards, compliance programs, and opt-out optionality to highly regulated and high traffic industries, Passport's reputation of developing and supporting these technologies is unparalleled.
"As the industry continues to expand, retailers seek opportunities to streamline operations and enhance consumer experiences. CocoonPod® is the future for highly regulated brick-and-mortar environments where privacy, Know Your Customer (KYC), Anti-Money Laundering (AML), and social responsibility are critical," states Kurt Sullivan, President of Passport. "Our partnership with Cocoon will immediately address known pain points while introducing new functionality for all stakeholders within the dispensary and retail eco-system."
About Australis Capital Inc.
AUSA operates and builds transformative, differentiated cannabis companies in and serving the cannabis market predominantly in the United States, a highly-regulated, fragmented, and rapidly expanding industry. AUSA adheres to stringent evaluation and operating criteria focusing on high-quality opportunities while maintaining a steadfast commitment to governance and community. AUSA's Board and management team have material experience with, and knowledge of, the cannabis space in the U.S., extensive backgrounds in highly-regulated industries and regulatory compliance. AUSA operating and portfolio assets include Rthm Technologies Inc., Body and Mind Inc., Quality Green Inc., Folium Biosciences, Wagner Dimas, Mr. Natural Inc., Green Therapeutics, LLC and Cocoon Technology LLC.
The Company's Common shares trade on the CSE under the symbol "AUSA" and on the OTCQX under the symbol "AUSAF".
For further information about AUSA, please visit the website at ausa-corp.com or contact the Company by e-mail at [email protected].
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive Officer
Forward-Looking Information Statement
This news release contains statements and information that, to the extent that they are not historical fact, constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking statement speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company's management to predict all of such factors and to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. The Company does not undertake any obligation to update any forward-looking information to reflect information, events, results, circumstances or otherwise after the date hereof or to reflect the occurrence of unanticipated events, except as required by law including securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities.
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SOURCE Australis Capital Inc.