Australis Capital (CSE:AUSA) announced its proprietary dispensary technology application is nearing an official launch with a Nevada retailer.
As quoted in the press release:
Australis Capital is pleased to announce Cocoon Technology, LLC (“Cocoon”) is in the final phase of development and completing testing for the platform’s deployment and initial launch with Thrive Cannabis Marketplace (“THRIVE”), Nevada’s largest independently owned Cannabis Retailer, in April 2020. THRIVE has ordered 32 CocoonPod kiosks for their eight locations in Nevada, starting with the pilot location at 2755 W. Cheyenne Ave. #103, North Las Vegas, Nevada and will roll out to the other locations over the following six months. Cocoon expects to generate $1.4 million in annual recurring net revenue year one with net revenues exceeding $7.1 million over the four-year exclusive term with THRIVE.
“We’re excited to launch the Cocoon platform in Las Vegas,” said Max Aceituno, SVP, Marketing & Product Development at AUSA.