Comment Cannabisradar.info: We still like the strong investment portfolio of Nabis Holdings and their big cash position of 20,2 Mio C$ as of July 30,2019! The recent news release confirms our view, that the company is well positioned to benefit from their strategic investments in various US states.
Nabis Holdings Receives Regulatory Approval to Operate its New Assets, Emerald Phoenix and Infusion Edibles in Arizona
VANCOUVER, British Columbia, Oct. 16, 2019 (GLOBE NEWSWIRE) — Nabis Holdings Inc. (NAB.CN) (OTC:NABIF) (FRA:A2PL) (“NabisTM” or the “Company”), a leading Canadian investment company with specialty investments in assets across multiple divisions of the cannabis sector, today announced that it has received all required regulatory approvals to operate the assets of Perpetual Healthcare Inc, Emerald Phoenix, a licensed medical marijuana dispensary located in Phoenix, Arizona and Infusion Edibles, a popular cannabis infused snack and beverage brand. The acquisition of these assets was previously announced on August 12, 2019. Nabis’ portfolio of operating licensing rights has now increased to a total of 11 for retail, cultivation and processing facilities combined in 4 states across the U.S.
“As one of the strongest limited-license, medical cannabis markets in the U.S., Arizona continues to be a priority market for Nabis. Expanding our operations with the Emerald Phoenix dispensary and well-known Infusion Edibles brand better positions us for our next phase of growth. Both businesses have a wide reach in Arizona, including an active registered purchasing patient roster of over 12,000 patients at the dispensary,” said Shay Shnet, CEO & Director of Nabis. “Our team remains focused on continued expansion as well as the development of our innovative product lines and brands.”
Nabis’ Arizona operations now include cultivation, fulfillment, production and retail:
- The Hub, a 44,000 square foot cultivation, fulfillment and production facility, is located on 2.5 acres of total land and one of the largest industrial warehouses in the Verde Valley. The Hub is also the new home of production for WISP pods in Arizona. This is an exclusive production agreement for the Company.
- Emerald Phoenix, Nabis’ first operating dispensary licensed to operate in the city of Phoenix (Maricopa County), which serves more than 133,000 unique patients, per the Arizona Department of Health Services August 2019 reporting. This dispensary has an active registered purchasing patient roster of more than 12,000 patients, a healthy marketing outreach and a loyal word of mouth clientele.
- Infusion Edibles, a highly popular brand of cannabis infused snacks and beverages. Infusion Edibles’ line of products includes baked goods – brownies and cookies; candies – gummies and lollies, and soda – root beer and cherry to name a few flavors. As one of the first medical cannabis kitchens in Arizona, Infusion Edibles produces superior products with outstanding flavors, delivering safe, consistent and effective medication. Under Nabis ownership, the menu will be expanded to include new products and seasonal treats.
Nabis will acquire 100% of the membership units of the Asset for total consideration of USD $15 million (CAD $19.65 million) comprised of USD $7 million in cash, $2 million of Nabis’ common stock, and $6 million deferred for 12 months at 5% interest. The Nabis common stock will be issued in three tranches with each tranche to be priced based on the ten day volume weighted average price calculated on the day prior to issuance. Shares issued are subject to customary regulatory approvals and restrictions.