Nabis Holdings Announces Upsize of Previously Announced Debenture Unit Private Placement Offering to C$35 Million
March 07 2019 - 9:25AM
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S.
NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES
Innovative Properties Inc. d/b/a Nabis Holdings (CSE:NAB;
OTC:INNPF, FRA:7IP) (“
Nabis” or the
“
Company”) announces that it has entered into a
revised agreement, co-led by Canaccord Genuity Corp. and Eventus
Capital Corp., to increase the size of its previously announced
amended brokered private placement (February 28, 2019) of debenture
units ("Debenture Units") to raise gross proceeds of up to
C$35,000,000 (the "Amended Offering").
The Company has also increased the Agents’
option (the “Over-Allotment Option”), exercisable at any time up
until 48 hours prior to the Closing Date, to arrange for the sale
of additional Debenture Units for additional aggregate gross
proceeds to the Company of up to C$10,000,000. If the
Over-Allotment Option is exercised in full, the aggregate gross
proceeds of the Amended Offering will be C$45,000,000.
The Closing Date of the Amended Offering is
expected to occur on or about March 14, 2019. The Offering is
subject to certain conditions including, but not limited to, the
receipt of all necessary regulatory and stock exchange approvals,
including the approval of the Canadian Securities Exchange.
The securities described herein have not been
registered under the U.S. Securities Act of 1933, as amended (the
“Act”), and may not be offered or sold in the United States unless
registered under the Act or unless an exemption from registration
is available.
About Innovative Properties Inc. (dba 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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