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Australis Capital says CocoonPod self-service kiosks launched at first of eight THRIVE Cannabis Marketplace locations

The self-service CocoonPod kiosks are very relevant in the current pandemic world as they eliminate person-to-person contact at the point-of-sale

Australis Capital Inc - Australis Capital says CocoonPod self-service kiosks launched at first of eight THRIVE Cannabis Marketplace locations
Cocoon Technology LLC, which manufactures the CocoonPods is helping dispensaries to reopen with the launch of contactless, self-service kiosks

Australis Capital Inc (CSE:AUSA) (OTCMKTS:AUSAF) revealed on Thursday that its subsidiary Cocoon Technology has installed its CocoonPod self-service kiosks at the first of eight locations operated by one of Nevada’s largest cannabis retailers, THRIVE Cannabis Marketplace.

Cocoon Technology LLC, which manufactures consumer-facing kiosks as stand-alone units or multi-unit pods for consumers has put up the CocoonPod kiosks at THRIVE’s dispensary location on 2755 W Cheyenne Avenue, in North Las Vegas.

Las Vegas-based Australis Capital which was spun out from cannabis behemoth Aurora Cannabis Inc (TSE:ACB) (NYSE:ACB) in September 2018 as its US investment vehicle, said the launch is a “positive step” towards the company's continued commitment to its US-focused cannabis operations. Installations at the remaining seven locations are anticipated in the coming months, said the company.

READ: Australis Capital reaches settlement with Passport Technology, reveals departure of executive chairman Scott Dowty

"We are very pleased to have completed our first installation with THRIVE, especially with the challenges and delays coronavirus (COVID-19) has presented," said Australis Capital Marketing Officer Max Aceituno in a statement.

"COVID-19 has increased awareness and the need for social distancing and safety measures. As dispensaries begin the initial phases of reopening, CocoonPod helps mitigate the associated safety concerns while expediting the shopping experience," he added.

Australis said Cocoon Technology's CocoonPod, CocoonCove, and CocoonRewards offers "interactive unattended kiosks" for consumers and retailers with “rich functionality” encompassing mobile, order ahead, online delivery, loyalty, rewards, data analytics, e-wallet, ATM functionality, and cash recycling technology. Built on a cloud-based platform, Cocoon integrates with dispensary Enterprise Resource Planning (ERP) systems, which boosts operational efficiencies and revenue generation.

THRIVE Cannabis Marketplace is the leading source for marijuana, marijuana products, accessories, and marijuana information in Southern Nevada.

Australis Capital invests in, operates and builds companies operating in highly regulated industries. The company already has nine assets in the cannabis industry, six of which it wholly owns. The assets in the company’s portfolio include Cocoon Technology, Body and Mind Inc, Quality Green, and Folium Biosciences.

Contact the author Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive

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CSE:AUSA
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