- Innovative Properties officially changed its name to Nabis Holdings Inc.
- Nabis Holdings continues to pursue investment in high-performing operators in the cannabis industry
- The company purchased assets from PDT Technologies to expand its production and licensing capabilities
Nabis Holdings (CSE: NAB) (OTC: INNPF) (FRA: 71P), a Canadian investment company pursuing interests in high-quality cash-flow assets in real estate, securities, cryptocurrency and all branches of the cannabis sector, has undergone a name change. Nabis Holdings will continue its focus on strategic revenue generation by investing in successful vertically integrated operators.
Effective May 6, 2019, the company formerly known as Innovative Properties officially changed its name to Nabis Holdings Inc. This name change resonates with the company’s motto – one team, one goal – while na bis translates to “repeat performance” or “encore.”
To continue expanding its production and licensing capabilities, Nabis Holdings recently announced completion of a previously announced purchase of assets from PDT Technologies (“PDT”). These assets include extraction and production equipment, as well as the right to lease PDT’s current production facility in Port Townsend, Washington.
This purchase signifies a promising opportunity for Nabis Holdings, and the company plans to spend approximately $3 million to expand the newly acquired production facility, which currently specializes in high-grade cannabis concentrate production. This expansion project will include “highly specialized equipment, two new extraction lines, [and] an extraction clean room and lab facility capable of producing up to 20,500 KG of cannabis concentrate on an annual basis.”
“We are thrilled to officially enter Washington State with the purchase of PDT’s certain assets,” Nabis Holdings CEO and Director Shay Shnet stated in a news release (http://nnw.fm/frV8A). “Washington represents the successful execution of another promising opportunity that will expand our production and licensing capabilities. We remain committed to our aggressive expansion plans, as we evaluate other opportunities in limited-license states that align with the company’s multistate cannabis expansion strategy.”
Nabis Holdings has been pursuing investment opportunities in a myriad of industries but seeks to establish an anchor investment portfolio by focusing on high-quality U.S. cannabis assets and brands that have proven themselves profitable. Once the company completes these acquisitions, Nabis Holdings actively assists the investees to implement standards and consistency, thus enhancing the existing business operations. Nabis seeks to be a leading investor in a diverse portfolio of vertically integrated multistate operations, including companies that are distributing nationally but with global ambitions.
For more information, visit the company’s website at www.NabisHoldings.com
NOTE TO INVESTORS: The latest news and updates relating to INNPF are available in the company’s newsroom at http://nnw.fm/INNPF
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