Nabis Holdings Provides Shareholder Update and Reports Third Quarter 2019 Financial Results
02 Octubre 2019 - 6:35AM
Nabis Holdings Inc. (CSE:NAB) (OTC: NABIF) (FRA:
A2PL) (“Nabis™” or the “Company”), a leading Canadian investment
company with specialty investments in assets across multiple
divisions of the cannabis sector, reported its financial results
for the third quarter ended July 31, 2019. All financial
information is provided in Canadian dollars unless otherwise
indicated.
“We continue to make progress on our strategic plan
by diligently working on and closing acquisitions in Arizona,
California, Michigan and Washington. In Arizona, we successfully
acquired a 44,000 sq ft cultivation, fulfillment and production
facility to serve as our hub of operations. With a definitive
agreement signed on a Phoenix, AZ based dispensary along with a
manufacturing & supplier agreement in AZ for WISP, a unique
vaporizing solution, we are excited about the opportunity for Nabis
in this state,” said Shay Shnet, CEO and Director of Nabis.
“We are pleased to report a strong balance sheet
with a cash balance that will fund us through our previously
announced acquisitions. As we focus on driving our business
forward, yesterday we announced a strategic new hire to strengthen
our management team. Nicole Rusaw joins Nabis as our Chief
Financial Officer as an experienced public company leader with a
proven track record. With our enhanced leadership at the helm, we
look forward to reaching many milestones performance on our
strategic initiatives,” concluded Mr. Shnet.
Third Quarter 2019 Highlights and
Subsequent Events
Expanded U.S. Footprint
- Arizona: In September, the Company acquired a
44,000 sq. ft. cultivation, fulfillment and production facility
located in Camp Verde, Arizona near Phoenix. This facility will
serve as the hub of Nabis’ operations. In August, the Company
signed a definitive agreement to acquire a licensed medical
marijuana business including a Phoenix dispensary.
- California: In June, the Company signed a
definitive agreement to acquire Desert’s Finest, a 6,000 sq ft
dispensary located in Desert Hot Springs, California. Nabis
announced yesterday improved terms to the acquisition
agreement; press release can be found here.
- Washington: In May, the Company purchased an
established extraction and production facility.
Growing Brand Portfolio
- Launched BIS (Be In Synergy), a new CBD exclusive brand created
and owned by Nabis.
- Announced strategic alliance with CannaKorp, Inc. for its Wisp
Vaporizing System as an authorized manufacturer and supplier of
Wisp Pods in Arizona.
- Acquired a 49% stake in Cannova Medical, an Israeli based
company and developer of the sublingual strip, an alternative
method for cannabis consumption.
Experienced Leadership Team
- Appointed Nicole Rusaw as Chief Financial Officer, effective
October 1, 2019.
- Announced industry veteran, Emmanuel Paul as an Independent
Director in August 2019.
Capital Markets
- In May, Nabis secured DTC Eligibility for its shares listed on
the OTC, improving the trading process in the U.S.
Financial Results for the Third Quarter
Ended July 31, 2019
Net loss for the third quarter of 2019 was $5.2
million compared to a net loss of $0.06 million in the third
quarter of 2018.
Balance Sheet and Liquidity
As of July 31, 2019, the Company had total assets
of $44.6 million, including cash and cash equivalents of $20.3
million and a working capital position of $19.5 million.
As of October 1, 2019, there were 109,604,435
shares of common stock outstanding.
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, securities, cryptocurrency, and all aspects of the
U.S. and international cannabis sector. Led by two of the
co-founders of MPX Bioceutical, one of the largest takeovers in the
U.S. Cannabis space to date, the company has a 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.
For more information, please visit
https://www.nabisholdings.com/.
Forward-Looking StatementsAll
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 CSE does not accept responsibility for
the adequacy or accuracy of this release.
For inquiries, please contact:
Investor Contact:Allison SossKCSA
Strategic Communications PH: 212-896-1267Nabis@kcsa.com
Company Contact:Shay Shnet, CEO
and DirectorPH: 905-581-5521 x107info@nabisholdings.com
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