Nabis Holdings Inc. Strengthens Board With the Appointment of James Tworek as Director
Board Forms Special Committee to Oversee Strategic Alternatives Review Process
VANCOUVER, British Columbia, Aug. 19, 2020 (GLOBE NEWSWIRE) -- Nabis Holdings Inc. (CSE: NAB) (OTC: NABIF) (FRA: A2PL) (“Nabis” or the “Company”) today announced the appointment of James C. Tworek to the Board of Directors, along with the resignation of Director Yoni Ashurov. Changes to the Board were effective August 17, 2020.
Shay Shnet, CEO and Director, commented “I would like to thank Yoni for his contributions to the Nabis Board over the past several months and wish him all the best in his future endeavours." Shnet continued, “Nabis is extremely pleased to welcome James C. Tworek to the Board. Given his proven track record of raising capital and experience within the hemp and cannabis industry, his skill set should prove instrumental in moving Nabis forward.”
An experienced Director, Mr. Tworek currently sits as an Independent Director for Robix Environmental Technologies Inc. (CSE:RZX) and is a Co-Founder, President and Director of Gaia Grow Corporation (CSE:GAIA).
Given the current liquidity constraints the Company is facing and the overall decline in the Cannabis capital markets, the Company’s Board of Directors has formed a Special Committee which will be comprised of independent cannabis industry veterans and will be lead by Emmanuel Paul who is currently Chairman of the Company’s Audit Committee. The Special Committee was formed to: (i) strengthen the board with additional cannabis industry expertise; (ii) explore targeted investments into additional verticals; and (iii) focus on raising additional capital for the Company. The appointment of James Tworek to the Board is a result of the actions of the Special Committee.
The Strategic Alternatives Review Process is ongoing and there can be no assurance as to what, if any alternatives might be pursed by the Company. In accordance with the Company’s applicable disclosure requirements, the Company will advise the market of any material changes, if and when they occur.
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 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/.
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 Canadian Securities Exchange has neither reviewed nor approved the contents of this news release and accepts no responsibility for the adequacy or accuracy of this release.
For inquiries, please contact:
Shay Shnet, CEO
Released August 19, 2020