Nabis Holdings Announces Additional Investment in Municipally Approved Property in Michigan - With 10 Approved Cultivation Li...
26 2월 2019 - 5:00PM
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Innovative Properties Inc. d/b/a Nabis Holdings (CSE:NAB; OTC:
INNPF, FRA:7IP) (“
Nabis” or the
“
Company”) is pleased to announce that the Company
has entered into a binding Letter of Intent (“LOI”) to acquire a
property strategically located in the city Bangor, Michigan that
has municipal approvals for ten Cultivation licenses and one
Processing license for a total consideration of USD $775,000. This
strategic property investment would take Nabis’ total to eight
licensed facilities in Michigan assuming the closing of the five
properties previously announced on January 17, 2019 and two
properties previously announced on January 24, 2019. The Company is
currently evaluating additional municipally approved locations in
the State and in other limited license States.
Cultivation at this property is expected to
commence in Q3/19 with an anticipated output of the first harvest
cycle to produce approximately 3,750 lbs per harvest and
approximately over 22,000 lbs per year. A finder’s fee will be
payable in regards to this transaction to an unrelated third party.
The LOI is subject to definitive documentation and the transaction
is expected to close in March 2019.
About Innovative Properties d/b/a Nabis
Holdings 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 (CSE:MPX), one of the
largest takeovers in the U.S. Cannabis space to date, the company
has 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.
ON BEHALF OF THE BOARD OF
DIRECTORS
“Shay Shnet”
Shay ShnetCEO and Director
For inquiries, please contact 604-687-7130 or
email info@nabisholdings.com.
The CSE does not accept responsibility
for the adequacy or accuracy of this release.
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.
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