THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, Jan. 28, 2019 (GLOBE NEWSWIRE) -- Innovative Properties Inc. d/b/a Nabis Holdings (CSE:NAB; OTC: INNPF; FRA:7IP) (“ Nabis ” or the “ Company ”) is pleased to announce that the Company has entered into a binding letter of intent (“LOI”) to invest in a 70% interest of Hivemind Refinery (“HIVEMIND”), an established wellness product line of CBD-based wellness products in the United States. The investment into HIVEMIND expands Nabis’ investment portfolio to CBD edibles, water, drops, lotions, and other CBD wellness products across the spectrum and will fall under the Company’s lifestyle brand. Nabis anticipates HIVEMIND will be a premium consumer CBD line to be distributed across the United States and Canada and will be focused on products utilizing locally grown premium CBD along with unique formulations and delivery systems. HIVEMIND will be catering to an exponentially growing CBD wellness segment that includes personal health, athletic line, nutraceutical, and beauty products across North America. All HIVEMIND CBD products will undergo stringent laboratory quality assurance and quality control before formulation as well as group batch testing on products before distribution.
The recent passing of Farm Bill in the U.S. presents an extraordinary opportunity for Nabis to enter the CBD industry and capitalize on the estimated US$22 billion market. "We are very excited to be investing in HIVEMIND as a key portfolio company focusing on the significant CBD market," said Shay Shnet, CEO & Director of Nabis. "The global CBD market is expanding at an exponential rate and we intend to be one of the leaders in the space focusing on premium quality CBD-based products. We will be focused on delivery systems & products for a variety of uses including soft-gel capsules, drops, lotions, disposable vape pens and rapid dissolvable strips.”
The LOI is subject to definitive documentation and the transaction is expected to close in February 2019.
About 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
“Shay Shnet”
Shay Shnet CEO and Director
For inquiries, please contact 604-687-7130 or email info@nabisholdings.com .
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.
