Las Vegas-based Australis Capital, a cannabis investment firm, terminated its planned acquisition of hemp company Folium Biosciences in the wake of lurid headlines that surfaced regarding the Colorado company it was going to purchase only two months ago.
Australis did not provide additional details about its decision.
Folium, a Colorado Springs-based hemp and CBD producer, made headlines recently with sensational stories of murder-kidnap plots, factory explosions, and lawsuits, according to reports in the Colorado Springs Independent.
Australis, which has invested in Folium since last April, said at the time the proposed deal with Folium presented an exciting and unique opportunity for the company.
The deal’s termination comes after Australis announced last monththe departure of Chief Financial Officer Michael Carlotti. It’s unclear whether the two events are related.
In a brief news release issued on Jan. 17, Australis said Carlottis employment had been terminated effective Jan. 16.
The company gave no explanation for the move.
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Originally posted on Australis ends purchase of Colorado CBD firm after lurid charges emerge via Cannabis Industry News
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