Cocoon Technology Signs Exclusive Agreement with Thrive Cannabis Marketplace, Nevada's Largest Independent Dispensary Chain
LAS VEGAS, Dec. 9, 2019 /CNW/ - Australis Capital Inc. (CSE: AUSA) (OTC: AUSAF) ("AUSA" or the "Company") is pleased to announce THRIVE Cannabis Marketplace ("THRIVE") has entered into a four-year agreement with Cocoon Technology LLC ("Cocoon"), including CocoonPod™ and CocoonRewards™ the world's most robust Platform-as-a-Service (PAAS) specifically developed for dispensaries. Through this agreement, Cocoon will become the exclusive self-service technology provider for THRIVE.
THRIVE, Nevada's largest independent dispensary chain, will install CocoonPod™ kiosks in their eight existing and newly approved locations across Nevada starting late Q1 2020. Built on a cloud-based, self-service fulfillment platform, CocoonPod™ features consumer-facing kiosks as stand-alone units or multi-unit "pods" as the core consumer point-of-interaction, coupled with a consumer mobile application and tablet for employee assisted self-service transactions. THRIVE customers will be able to verify identification, research products, place orders, order ahead, auto-repeat orders, gain loyalty rewards with CocoonRewards™, make payments with cash or bank cards, and make charitable contributions directly through the kiosk or mobile application.
"THRIVE is clearly positioned as the vanguard in the industry leveraging their deep understanding and experience in building some of the greatest brands in the U.S. cannabis space today," states Scott Dowty, CEO of AUSA. "Their commitment to technology and process maximizes operational efficiencies, with a keen focus on ensuring the customer experience is always top-of-mind and is the ideal environment for Cocoon to have an immediate and material impact. The Cocoon model delivers recurring software revenue, recurring maintenance fee revenue, one-time hardware revenue, and development revenue as we work with our partners to customize their applications to best suit their unique requirements."
Cocoon's PAAS incorporates the most robust customer-facing omni-commerce technology including kiosks and mobile applications interfaced with the most popular ERP systems and payment portals, and is custom developed to support unique regulatory compliance requirements and privacy legislation by jurisdiction. CocoonPod™ kiosks provide maximum convenience to new and returning customers; a private experience; vibrant and consumer-friendly user interfaces, custom screen flows, call to action offers and advertising options; quick reading code and marketing redemption; ability to accept, recycle and reconcile cash; a powerful proprietary loyalty platform with customization options and remote real-time data analytics.
"We have been searching for a technology solution to streamline our expanding operations and are always pushing to improve our customer's experience," said Mitch Britten, CEO of THRIVE. "Cocoon will enable THRIVE to further position our operations and brands at the forefront of the industry as we leverage self-service technology across the enterprise delivering cost savings and increased revenue."
Experience CocoonPod™ demonstrations with integrated CocoonRewards™ at MJBiz Con Las Vegas, December 11-13, 2019 at the Australis Capital booth, C3222.
To learn more about Cocoon Technology, visit CocoonTechnology.com.
About THRIVE Cannabis Marketplace
THRIVE Cannabis Marketplace (TCM) is the premier source for marijuana, marijuana products, accessories, and marijuana information in Southern Nevada. TCM is focused on one thing— well-grown, high-quality cannabis. Passionately dedicated to the well-being, safety and enjoyment of its customers, TCM cites education, choice, and vitality as its guiding philosophical values. Staff help customers learn the truth about cannabis and its beneficial properties so they are better equipped to choose which strain will best serve their needs. TCM believes supporting bodies naturally represents the best way to thrive.
About Australis Capital Inc.
AUSA operates and builds transformative, differentiated cannabis companies 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, 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
"Scott Dowty"
____________________________________
Scott Dowty
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.
Brent Reuter, Senior Vice President, Investor Relations & Strategy, [email protected]
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