Australis Capital looks to buy VC-backed Rthm Technologies
Australis Capital, a U.S. investor in the cannabis industry, has made a non-binding proposal to acquire Rthm Technologies Inc, a Toronto-based mobile health and fitness app. Australis proposes to buy Rthm for $1 million in cash plus common share issues, subject to several conditions. Rthm CEO Alexander Mosa said his company's app addresses the "burden placed on consumers and patients to navigate a variety of cannabis products with divergent biological effects," which he called the "chief shortcoming" of the industry. Founded in 2014, Rthm was backed last year by Canadian consumer venture capital firm District Ventures Capital.
19 September 2018•4 mins read
