Nabis Holdings Announces Upsize of Previously Announced Debenture Unit Private Placement Offering to C$35 Million
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VANCOUVER, British Columbia, March 07, 2019 (GLOBE NEWSWIRE) -- 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
CEO and Director
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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.
Released March 7, 2019