Nabis Holdings Expands Arizona Footprint With Acquisition of 44,000 sq. ft. Cultivation, Fulfillment and Production Facility
VANCOUVER, British Columbia, Sept. 10, 2019 (GLOBE NEWSWIRE) -- 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 closed the acquisition of a cultivation, production and fulfillment facility located in Camp Verde, Arizona near Phoenix. This is the second announced acquisition for Nabis in the state of Arizona following its definitive agreement to acquire a licensed medical marijuana business including a Phoenix dispensary.
The 44,000 square foot cultivation, fulfillment and production facility is located on 2.5 acres of total land and is one of the largest industrial warehouses in the Verde Valley. In addition to its expansive floor space, the property features a 4,000 square foot mezzanine, 2,000 square feet of executive offices and a 2,000 square feet production office, given the facility’s 56-foot ceiling height clearance there is ample room for doubling growth. Acting as the hub of Nabis’ operations, the facility will play an integral role in the expansion of the Company's business operations, adding to its portfolio of vertically integrated assets in Arizona.
Both the zoning verification letter and business license to cultivate marijuana in the Town of Camp Verde are secured with the sale. Nabis is currently in the process of completing the transfer of licenses.
“We are excited to progress on our growth strategy in Arizona with the purchase of the Camp Verde facility in keeping with our mission to expand cultivation and production operations into next year, ” said Shay Shnet, CEO & Director of Nabis. “Our new hub, strategically located in the Southwest, will be designed with the highest standards in mind keeping production best practices as our mission. With the closing of this investment, we continue to work on expanding our footprint across U.S. limited license states as part of our U.S. cannabis strategy.”
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. 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/.
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.
The CSE does not accept responsibility for the adequacy or accuracy of this release.
For inquiries, please contact:
KCSA Strategic Communications
Shay Shnet, CEO and Director
PH: 905-581-5521 x107
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/31216e1d-d629-4910-9668-68a28de0a127
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f1a2ff67-5216-4533-9cdc-cc14459f5612
Released September 10, 2019