Nabis Holdings Completes the Purchase of Assets Including Established Extraction & Production Facility in Washington State
2019年5月30日 - 6:00PM
Nabis Holdings Inc. formerly Innovative Properties (CSE:NAB) (OTC:
INNPF) (FRA: 71P) (“Nabis” 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 the previously announced purchase of certain assets
from PDT Technologies LLC (“PDT”), including extraction and
production equipment and rights to lease its current production
facility in Port Townsend, WA. The purchase includes the exclusive
licensing rights to Chong’s Choice brand products throughout the
state of Washington.
Nabis is planning to spend approximately USD $3
million to further expand the existing production facility, which
currently produces high grade cannabis concentrate. The expanded
facility will include new highly specialized equipment, two new
extraction lines, an extraction clean room and lab facility,
capable of producing up to 20,500 KG of cannabis concentrate on an
annual basis. The facility is expected to be subleased to a
licensed Washington cannabis processor.
“We are thrilled to officially enter Washington
State with the purchase of PDT’s certain assets. Washington
represents the successful execution of another promising
opportunity that will expand our production and licensing
capabilities,” said Shay Shnet, CEO and Director of Nabis. “We
remain committed to our aggressive expansion plans, as we evaluate
other opportunities in limited license states that align with the
Company’s multi-state cannabis expansion strategy.”
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. Led by two of the
co-founders of MPX Bioceutical, one of the largest takeovers in the
U.S. Cannabis space to date, the company has a proven track record
in emerging markets to create significant shareholder value. 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 StatementsAll
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
SossKCSA Strategic Communications PH:
212-896-1267Nabis@kcsa.com
Company Contact:Shay Shnet, CEO
and DirectorPH: 604-687-7130info@nabisholdings.com
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