Nabis Holdings Completes Investments in Two Additional Assets in Emmett Township and Kawkawlin, Michigan
VANCOUVER, British Columbia, Nov. 18, 2019 (GLOBE NEWSWIRE) — Nabis Holdings Inc. (NAB.CN) (OTC:NABIF) (FRA:A2PL) (“NabisTM” or the “Company”), a leading Canadian investment company with specialty investments in assets across multiple divisions of the cannabis sector, today announced that it has completed its investments in two strategically located properties that have municipal approvals for provisioning centers in Emmett Township and Kawkawlin, Michigan. These properties bring the Company’s total number of investments in Michigan to seven. For more details on the Nabis Michigan portfolio, please visit https://www.nabisholdings.com/Michigan/.
“We continue to progress on our growth strategy in Michigan with the completion of our investments in two assets located in Emmett Township and Kawkawlin,” said Shay Shnet, CEO and Director of Nabis. “As one of the largest medical license cannabis markets in the U.S., this milestone aligns with Nabis’ long-term growth strategy of entering into limited license states and decisively positions the company to continue successfully expanding its footprint nationwide.
Pursuant to the investment agreements, the Company paid a combination of cash at closing and deferred cash for an undisclosed total amount.
Effective December 1, 2019, the Michigan cannabis market broadens beyond medical use as residents will be able to legally purchase marijuana from stores for recreational use.