Nabis Holdings Signs Definitive Agreement to Acquire Desert’s Finest Dispensary in Desert Hot Springs, California
2019年6月12日 - 4:00PM
Nabis Holdings Inc. (CSE:NAB) (OTC: INNPF) (FRA: A2PL) (“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 signed a definitive
agreement to acquire 100% ownership of Desert’s Finest, a 6,000
square foot dispensary located in Desert Hot Springs, CA. The
dispensary, which is licensed by the State of California for the
sale of cannabis products, includes the potential for license
expansion to add production and cultivation activities on the
property subject to future submission of the license.
Desert’s Finest is located in the heart of
downtown Desert Hot Springs, CA near Palm Springs, CA, less than
two hours east of Los Angeles and north of San Diego. The currently
operating dispensary has more than 37,000 registered patients and
exceeded USD $5.7 million in sales over the previous twelve months
with 47% gross profit margin. Desert’s Finest sells a wide
assortment of products including flower, vape and edibles,
available at a variety of price ranges. In addition, the dispensary
is strategically located near the annual Coachella Music Festival,
and less than one hour from Joshua Tree National Park.
“As we continue national expansion of the Nabis
footprint, we are pleased to announce our first acquisition in the
state of California, one of the dominant cannabis markets in the
United States,” said Shay Shnet, CEO & Director of Nabis.
“Desert’s Finest has successfully generated material revenue driven
in part by their convenient dispensary location in the Palm Springs
region and extensive list of registered patients. We look forward
to adding Desert Hot Springs to the Nabis portfolio and the loyal
customer base to the Nabis brand.”
Nabis will acquire 100% ownership of Desert’s
Finest for total consideration of USD $5.6 million (CAD $7.5
million) composed of USD $1.9 million in cash and $3.8 million of
Nabis’ common stock. The Nabis’ common stock will be determined by
the ten-day trailing volume weighted average price upon transaction
closing.
Closing the acquisition remains subject to
certain customary closing conditions, including obtaining all
necessary approvals.
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 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 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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