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Australis Capital Acquires Shares in Body and Mind.

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Vincent

MANews-(C)2009-2019

29 May 2019 - Cannabis investment firm Australis Capital Inc. (CSE: AUSA) (OTC: AUSAF) has acquired, through the exercise of 12,793,840 warrants of Body and Mind Inc., ownership of 12,793,840 common shares in the capital of the company, the firm said.

The common shares were acquired pursuant to the exercise of the warrants acquired on a private placement basis on November 5, 2018.

Prior to the acquisition, Australis held 22,079,788 common shares, 12,793,840 warrants and debentures in the principal amount of USD 16m convertible into common shares at USD 0.55 per common share.

After the acquisition, Australis holds 34,873,628 common shares and debentures in the principal amount of USD 1.6m.

Assuming the conversion of all debentures, Australis would hold 37,782,719 common shares, which on a partially diluted basis is equal to approximately 37.7% of the issued and outstanding common shares of the company.

Australis paid CAD USD 6,396,920 to exercise the warrants at a price of USD 0.50 per share resulting in 12,793,840 common shares.

Australis acquired the common shares for investment purposes. In pursuing such purposes, Australis takes a long-term view of its investment. It reserves the right to formulate other plans or make other proposals, and take such actions with respect to its investment in the company.

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