Nabis Holdings Closes Acquisition of Emerald Phoenix and Infusion Edibles in Arizona
October 28 2019 - 7:27AM
Nabis Holdings Inc. (CSE:NAB) (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 completed the acquisition of 100% of the membership units of
Perpetual Healthcare Inc. This acquisition, previously announced on
August 12, 2019 and October 16, 2019, included Emerald Phoenix, a
licensed medical marijuana business in the state of Arizona and
Infusion Edibles, a popular cannabis infused snack and beverage
brand.
“This closing marks a critical milestone to our expanding reach
in Arizona’s strong limited-license, medical cannabis market,” said
Shay Shnet, CEO & Director of Nabis. “Our team has already
begun laying the groundwork in strategizing to build out and
optimize these assets, with plans to introduce our BIS branded
products at Emerald Phoenix and through Infusion Edibles’
established distribution network in Arizona. The previously
disclosed US$2M in Nabis share consideration was added to the
deferred note, resulting in no share dilution for the US$15M
acquisition.”
Management expects the Arizona Dispensary and Infusions
operations will report approximately US$9M in top-line revenue
annually, based on the target's unaudited internal financial
statements prepared for the 9 month period ending September 30,
2019.
Nabis acquired 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 and $8 million deferred for 12
months at 5% interest.
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, securities, cryptocurrency, 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:
Investor Contact:Allison
SossKCSA Strategic Communications PH:
212-896-1267Nabis@kcsa.com
Company Contact:Shay Shnet, CEO
and DirectorPH: 905-581-5521 x107info@nabisholdings.com
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