REPEAT - Nabis Holdings Announces Shareholder Approval of Name Change and Provides Shareholder Update
May 06 2019 - 7:30AM
Innovative Properties Inc. DBA Nabis Holdings (CSE: NAB; OTC:
INNPF; FRA: 71P) (“
Nabis” or the
“
Company”), a leading Canadian investment company
with specialty investments in assets across multiple divisions of
the cannabis sector, announced that Nabis’ shareholders approved
the name change to Nabis Holdings Inc. subject to CSE approval. In
addition, Nabis management is pleased to provide a corporate update
to its shareholders regarding the recent progress of its strategic
growth plan.
Shay Shnet, CEO & Director of Nabis, stated,
“Over the past several months our team has diligently executed our
strategic plans to identify and invest in vertically integrated
cannabis assets primarily in U.S. limited license states with
large, addressable markets, including Michigan, Arizona,
California, Massachusetts and Nevada. While we make strides in the
progression of our investments, the recent Annual Shareholder
Meeting yielded a number of positive corporate changes, including
the formal adoption of the Nabis Holdings name, providing clarity
for investors, as well as a strong anchor for the business.”
“In addition, we enhanced our board to six
directors, those of whom have already played integral advisory
roles in the current development of Nabis. Our team commitment to
the expansion of the Nabis portfolio, with a focus on businesses
with operational experience, pharma grade quality products serving
the medicinal, wellness and recreation markets, cannot be
understated. We are focused on identifying those assets that will
lead to strategic revenue generation, EBITDA, and growth in turn
increase shareholder value,” concluded Shnet.
Recent Operational
Highlights
Enhanced Balance Sheet
- Completed private placement offering of debenture units raising
gross proceeds of $35 million in March 2019.
Completed FIVE Strategic Investments in
Properties
- Investment in one property in Bangor City, Michigan, that has
received municipal approvals for ten cultivation licenses and one
processing license. This property allows Nabis to grow indoor,
outdoor and greenhouse cannabis with an unlimited stacking ability
of cultivation licenses.
- Investment in four properties that have municipal approvals for
provisioning centers in Battle Creek, Constantine, Muskegon and
Bangor City, all located in Michigan
Strengthened Board of Directors
- Shay Shnet, CEO & Director of Nabis, has
over 20 years of experience in business and was most recently a
founding partner and Vice President of Operations of MPX. While at
MPX, Mr. Shnet spent the last 5 years of his career focused on the
North American cannabis space helping build MPX’s portfolio of
international cannabis assets. Shay is highly skilled in finding
unique opportunities and has been directly involved with the
development, branding, importing, consumer packaging and
distribution of a wide variety of product lines.
- Kevin Ma, Director, is a principal and the
founder of Skanderbeg Financial Advisory Inc., specializing in
corporate finance, mergers & acquisitions, and senior executive
and management advisory. Kevin acted as CFO for First Cobalt Corp.
where the company recently completed over $250 million in
acquisitions within 12 months, creating the largest cobalt
exploration company by market capitalization. Kevin has been
involved in over $200 million in corporate financing transactions.
Kevin is a Chartered Accountant certified by the Chartered
Professional Accountants of British Columbia, and holds a Diploma
in Accounting and a Bachelor of Arts degree from the University of
British Columbia.
- Liran Kandinov, Director, is the Executive
Director and CEO of Lex Professional Development Group Inc., a
legal education and consulting firm. He has over 10 years of
leadership and strategic management experience and is a dual
licensed attorney in both New York State and in the province of
Ontario. Liran obtained his Bachelor of Business Administration
degree in Strategic Management from the University of Toronto, his
Bachelor of Laws degree from the University of Manchester and his
Master of Laws in Business Law from the University of
Toronto.
- Mark Krytiuk, President & Director, is a
very successful cannabis operator and was a founding partner of
MPX. Mark has over 5 years of experience as the Vice President of
Grow Operations of MPX overseeing the production of medical
marijuana and pharma-grade products across North America. Mark has
been directly involved overseeing the rapid expansion and build out
of nine facilities in three different countries, with ranging
budgets of up to $30 million. Mark also has over 10 years of
experience consulting and working with customers to develop their
individual requirements for their indoor & outdoor cultivation
processing space with all required design, workflow and equipment
along with working with federal regulators and licensing bodies to
ensure compliance.
- Larry Koza, Director, is a Managing Partner at
CanSave, a distributor of building materials, kitchen & bath,
and doors for new construction and renovation projects. Larry
currently sits on a number of panel committees for organizations
including the Royal Victoria Hospital, the Emergency Department
Operations Committee, and a new hospital to be built in Innisfil,
Ontario. Larry volunteers to help business owners to fortify their
strategy and improve profitability. Larry was awarded the lifetime
achievement award from the Lumber Building Material Association.
- Safiya Lyn, Director, is the Assistant Medical
Director of a prestigious hospital in Aventura, Florida, which is
among the nation’s oldest, largest and most respected hospitals,
serving roughly 24,000 emergency department patients annually.
Safiya has roughly eight years of experience in Emergency Medicine,
offering valuable insight into the unique requirements related to
various patient concerns. Safiya is responsible for overseeing a 16
bed acute care emergency room, managing general operations, caring
for critical ill patients and implementing new policies related so
sepsis, stroke, STEMI and critical care. Safiya works closely with
her community to inform and educate people on evolving medical
practices through engaging lectures and community-centered outreach
programs.
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 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:
Company Contact:PH:
604-687-7130info@nabisholdings.com
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