Nabis Holdings Inc. to Enter into Joint Venture with Israeli Pharmaceutical Company Panaxia
January 28 2020 - 3:00AM
Nabis Holdings Inc. (CSE:NAB) (OTC: NABIF) (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 they have
entered into a binding memorandum of understanding (“MOU”)
with Panaxia Pharmaceutical Industries, Ltd. (“Panaxia”).
Under the terms of the MOU, Panaxia will be
providing proprietary pharma grade cannabis-based products that
have proven to be in high demand in other states in the U.S.
including New Mexico, Colorado and California. The products
will be produced in the first operating EU GMP facility in Arizona,
under Nabis licenses, located at Nabis’ “Camp Verde” facility in
Arizona, a 44,000 square foot cultivation, production and
fulfillment facility. Nabis will provide the raw materials
for production of the products and will also be responsible for
sales, marketing and distribution through their already established
dispensary and whole-sale channels which serve more than 50% of
Arizona dispensaries. Panaxia shall be responsible for the
production, clinical affairs and quality. All products of the
joint venture will be sold under the Panaxia brand, of which Nabis
owns 50% in Arizona. Under the MOU, there is an opportunity for
Nabis and Panaxia to expand their joint venture into additional
states in the U.S.
“We are excited to partner with Panaxia to
develop a variety of new, high quality, pharmaceutical grade
products using proven EU GMP standards to meet the evolving needs
of our patients,” said Shay Shnet, CEO and Director of Nabis. “This
Joint Venture fits well within our vertically-integrated cannabis
portfolio and we look forward to co-creating new innovative
products to deliver long-term value to our shareholders as well as
our established Arizona customer base of over 36,000 patients and
counting.”
About Panaxia Pharmaceutical Industries,
Ltd.Panaxia is currently the largest manufacturer and
service provider with home-delivery distribution of medical
cannabis products in Israel. It is the first company to receive
approval from the Israel Ministry of Health for the production of
medical cannabis-based drugs (IMC-GMP directive) and has
authorization to manufacture and distribute medical cannabis in
Israel.
Panaxia is part of the Segal Pharma Group, owned
by the Segal family, which has been in operation for over forty
years, manufactures over 600 different pharmaceutical products and
distributes them in over 40 countries worldwide. Panaxia USA,
manufactures over 60 medical cannabis-based products in North
America, including sublingual tablets, lozenges, oils, and inhalers
designed to treat illnesses such as PTSD, cancer, chronic pain,
epilepsy, anorexia, burns, and an assortment of other disorders.
The Panaxia Group has around 150 employees, and all clinical trials
are conducted by the group. The Segal Pharma Group also owns
Luminera Derm, which produces injectable dermal fillers, and
Tree of Life Pharma, which produces over-the-counter drugs.
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
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 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:
Shay Shnet, CEO and DirectorPH:
416-223-2248info@nabisholdings.com
Nabis (CSE:NAB)
Historical Stock Chart
From Jun 2024 to Jul 2024
Nabis (CSE:NAB)
Historical Stock Chart
From Jul 2023 to Jul 2024