Australis Capital Inc. announced that Mr. Jon Paul will no longer serve as the Company's CFO, effective immediately. Mr. Paul has agreed to act in an advisory capacity during a transitionary period. The Company is pleased to share it has found a replacement in Mr. Derrek Higgins, who will be joining the Company as special advisor, effective immediately. Mr. Higgins is expected to be appointed CFO upon Board approval, which is anticipated for early
to mid-January. Derrek Higgins has more than 20 years of public and private company financial expertise in preparing venture-backed startups for public listings, representing shareholders and implementing comprehensive profitability and working capital plans. Derrek has held various key roles throughout his career, including most recently as Chief Financial Officer (CFO) for Glass House Group where he utilized his comprehensive financial, operational, public markets and cannabis industry experience to take the Company public and to drive profitability and scale as a leader in the rapidly evolving global cannabis market. Prior to Glass House Group, Derrek served as the CFO and Board member of FLRish Inc., the parent company of Harborside Inc., one of the oldest, largest and most respected cannabis operators in the world. At FLRish/Harborside, Higgins lead the completion of Harborside's reverse takeover of FLRish Inc., recapitalized the business and implemented public reporting frameworks, accounting policies and operational transformation initiatives across Harborside, its subsidiaries and controlled entities. Prior to FLRish/Harborside, Higgins served as a consultant for The Brenner Group LLC, where he provided CFO advisory services to venture-backed startups and mid-size companies, developed and executed strategic plans, raised capital and managed shareholder representation. Derrek also served as a strategic consultant at Alvarez & Marsal, a global professional services firm where he worked in turnaround management and performance improvement of large, high-profile businesses both in the U.S. and internationally, providing critical assistance to companies in crisis situations and helping to stabilize financial and operational performance by developing and implementing comprehensive profitability and working capital plans. Higgins holds a B.S. degree in Accounting from Arizona State University and an MBA from the USC Marshall School of Business and a CPA (inactive) in California.