- Nabis Holdings has closed on its previously announced initial purchase of a 49 percent interest in Cannova Medical Ltd., with an option to purchase the remaining 51 percent
- The company selected Cannova Medical for its unique approach to consumable cannabis technology and untapped industry potential
- Nabis sees Cannova as a potential disruptor in the edible cannabis industry
Nabis Holdings Inc. (CSE: NAB) (OTC: NABIF) (FRA: 71P), a leading Canadian investment company pursuing specialty investment opportunities in the burgeoning cannabis industry (among others), recently announced that it has now completed the purchase of a 49 percent interest in Cannova Medical Ltd., totaling 2,260,500 shares. Nabis retains the option to acquire the remaining 51 percent interest in Cannova.
Cannova Medical is a provider of innovative solutions for cannabis consumption. Pursuing its interest in investment across all vertically integrated aspects of the cannabis sector, with a focus on strategic revenue generation, Nabis selected Cannova because of its innovative take on consumable cannabis. In connection with this transaction, Nabis will have exclusive distribution rights in North America.
Cannova, based in Israel, is developing an alternative method for cannabis consumption in the form of a sublingual strip. The sublingual strips are infused with cannabis molecules that are produced using a patent-protected process involving the combination of various formulations with water soluble cannabinoids and natural active ingredients. The sublingual strip allows producers to more effectively control dosage quantities and significantly increases the effect of the cannabis, allowing it to be used for a variety of purposes, including pain management, as a concentration aid, as an antidepressant and to support better sleep.
Additionally, Cannova is developing the NovaJet Pro (“NovaJet”), an innovative printing machine that provides producers with the ability to create customized film strips, according to client demand, in real time. The NovaJet is expected to be able to assemble different quantities of cannabinoids and other natural substances, ultimately producing sublingual strips that are highly measured, accurate and tailored to specific demand.
Nabis CEO and Director Shay Shnet sees Cannova as a disruptor in the cannabis space as it relates to the way consumers view consumption (http://nnw.fm/9GsfP). “[Cannova’s] team has developed an innovative solution that largely appeals to consumers looking for convenience compared to current forms of consumption such as smoking, evaporation and ingestion of oil,” he said in a news release. “While we remain focused on our strategic plan for rapid expansion into limited-license states, we also pay close attention to companies that have the potential to disrupt the legal cannabis space. Cannova’s patent-protected solution allows the user to get a customized, personal combination of THC, CBD, and other active ingredients that meet[s] their personal, unique requirements in real time, thus changing the way cannabis is consumed.”
Shnet described Cannova’s product design as one that easily fits into the home of the average consumer, sitting on a countertop with a design akin to an average espresso or coffee machine while utilizing a “next-generation ability to combine various active ingredients.”
Looking to Nabis’s future with Cannova, Shnet spoke highly of the latter’s unique technology and its untapped industry potential. “We’re excited to team up with Nabis to provide cannabis users a safe, accurate and discrete way to consume cannabis,” he continued.
Cannova founder and CEO Omri Schanin indicated a promising future for Cannova with the assistance of Nabis. “The Nabis team, their experience and established network of cannabis-related portfolio, will help boost Cannova to become a cutting-edge leader in the space,” he added.
Utilizing Cannova’s innovative technology, Nabis is looking to disrupt the edibles sector and is well positioned to capitalize on the growing popularity of consumable cannabis.
For more information, visit the company’s website at www.NabisHoldings.com
NOTE TO INVESTORS: The latest news and updates relating to NABIF are available in the company’s newsroom at http://nnw.fm/NABIF
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