- In a strategic update, Innovative Properties Inc. d/b/a Nabis Holdings announced shareholder approval for a name change
- Nabis also presented key strategic developments, like the acquisition of various cultivation and processing properties in the U.S. and an increase in its number of board directors
- The Nabis managerial team will also be working on establishing the company’s reputation through participation in the Third Annual Canaccord Genuity Cannabis Conference
Nabis Holdings (CSE: NAB) (OTC: INNPF) (FRA: 71P), a leading Canadian investment company with specialty investments in assets across multiple divisions of the cannabis sector, announced on May 6, 2019, that company shareholders had approved a name change to Nabis Holdings, subject to Candian Securities Exchange approval (http://ibn.fm/U1kfG). In addition, the company provided a strategic update on its growth plan.
Nabis CEO and Director Shay Shnet said in the update that the company has been working diligently to identify vertically integrated cannabis assets that are worthy of investment. These assets operate primarily in the U.S., in limited license states that already have well-established markets (Arizona, Michigan, California, Nevada and Massachusetts).
Additionally, the company enhanced its board to six directors, Shnet said. The managerial team will maintain its commitment to expanding the Nabis portfolio, with a focus on businesses with operational experience and pharma-grade quality products for both the medicinal/wellness and recreational markets.
Earlier, Nabis Holdings announced its Depository Trust Company (DTC) eligibility for the U.S. markets (http://ibn.fm/ihkgN). This is yet another step that has furthered the company’s investment appeal, Shnet noted. He also said that “the ability for investors to electronically transfer between brokerages in the U.S. is significantly more convenient and provides to existing investors the benefit from greater liquidity and execution speeds, while attracting new investors to gain access that may have been previously restricted from investing in Nabis.”
The Canadian investment company has also provided a few additional highlights as part of publicly disclosing its strategic growth plans. In March 2019, Nabis completed a private placement offering that generated gross proceeds of $35 million.
In addition, Nabis completed five strategic investments in properties, as well as cultivation and processing licenses. The acquisition of these properties will enable Nabis to get started with indoor, outdoor and greenhouse cannabis cultivation.
To further cement its position and establish its reputation in the cannabis field, the company has also taken up participation in industry events like the Third Annual Canaccord Genuity Cannabis Conference (http://ibn.fm/2LxIl).
The conference took place on May 14 at the Grand Hyatt New York in New York City. Shnet held a presentation during the event. Additionally, one-on-one meetings with the Nabis management were available.
Nabis Holdings focuses on strategic revenue generation, and, while its interests span various industries, high quality cannabis companies in the U.S. represent a major interest. Once an acquisition is completed, Nabis employs a hands-on approach to ensure optimization of operations. The company has so far entered into binding letters of intent to invest in various vertically integrated assets in Michigan, Arizona and Washington State.
For more information, visit the company’s website at www.NabisHoldings.com
NOTE TO INVESTORS: The latest news and updates relating to INNPF are available in the company’s newsroom at http://ibn.fm/INNPF