One of many give-away comics available through Weeties (The Australian spelling of Wheaties). You would receive one comic free inside each Giant Packet of Weeties.
Variations
This particular comic book was originally released in the U.S. in 1947 under the Cheerios brand as Cheerios #X-3. Notice the cover art is similar, but not identical to the original; the background colors have changed, and the comic book has been trimmed from the original taller Cheerios version to fit the slimmer Wheaties comic book format.
Synopsis
Brer Rabbit is about to be roasted when he threatens to call for the help of Boss Lion. Brer Fox and Brer Bear decide to call his bluff and untie him. Sure enough, Brer Rabbit makes friendly conversation with the lion to the surprise of Brers Bear and Fox. But Brer Rabbit was really offering to give Boss Lion some game foul. So he tricks Brer Fox and Brer Bear into shooting them for him in return for Brer Rabbit telling them how to be friends with Boss Lion. Then, he tricks them again by stealing their payloads away from them and gives it to the lion himself, earning him the good favor of Boss Lion.
Credits
Printed by Rotary Colorprint Co. Pty. Ltd., 15 Hamilton St., Sydney.
