VANCOUVER, British Columbia, Nov. 18, 2019 (GLOBE NEWSWIRE) -- Nabis Holdings Inc. (CSE:NAB) (OTC: NABIF) (FRA: A2PL) (“NabisTM” or the “Company”), a leading Canadian investment company with specialty investments in assets across multiple divisions of the cannabis sector, today announced that it has completed its investments in two strategically located properties that have municipal approvals for provisioning centers in Emmett Township and Kawkawlin, Michigan. These properties bring the Company’s total number of investments in Michigan to seven. For more details on the Nabis Michigan portfolio, please visit https://www.nabisholdings.com/Michigan/.
“We continue to progress on our growth strategy in Michigan with the completion of our investments in two assets located in Emmett Township and Kawkawlin,” said Shay Shnet, CEO and Director of Nabis. “As one of the largest medical license cannabis markets in the U.S., this milestone aligns with Nabis’ long-term growth strategy of entering into limited license states and decisively positions the company to continue successfully expanding its footprint nationwide.
Pursuant to the investment agreements, the Company paid a combination of cash at closing and deferred cash for an undisclosed total amount.
Effective December 1, 2019, the Michigan cannabis market broadens beyond medical use as residents will be able to legally purchase marijuana from stores for recreational use.
About Nabis Holdings Inc.
Nabis Holdings is a Canadian investment issuer that invests in high quality cash flowing assets across multiple industries, including real property, securities, cryptocurrency, and all aspects of the U.S. and international cannabis sector. The Company is focused on investing across the entire vertically integrated aspects of the space with a focus on revenue generation, EBITDA and growth.
For more information, please visit https://www.nabisholdings.com/.
Forward-Looking Statements
All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The risks are without limitations: that the acquisitions will be completed by the Company or completed upon the terms disclosed; the price for cannabis and related products will remain consistent and the consumer demand remains strong; availability of financing to the Company to develop the retail locations; retention of key employees and management; changes in State and/or municipal regulations of retail operations and changes in government regulations generally. Important factors that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time with the Canadian Securities Exchange, the British Columbia Securities Commission, the Ontario Securities Commission and the Alberta Securities Commission.
The CSE does not accept responsibility for the adequacy or accuracy of this release.
For inquiries, please contact:
Investor Contact:
Allison Soss
KCSA Strategic Communications
PH: 212-896-1267
Nabis@kcsa.com
Company Contact:
Shay Shnet, CEO and Director
PH: 416.223.2300
info@nabisholdings.com