Innovative Properties Inc. dba Nabis Holdings (CSE:NAB; OTC:INNPF, FRA:7IP) just announced that it has raised C$35 million through debenture units. The Canadian investment issuer is famous for investing financial resources into reputable cash flowing assets across different industries in the United States and the global cannabis industry.
With the new cash infusion, Nabis closed on two new provisioning centers and is currently targeting to complete five additional acquisitions in the coming weeks to a grand total of seven provisioning centers in the state of Michigan. The two new centers are located in Muskegon & Bangor City, Michigan. Nabis is currently evaluating 10-15 additional locations throughout the state which will substantially increase the Company’s overall presence in the United States cannabis industry.
The debentures units were issued for C$1,000 ($750 USD) each. The company was able to raise enough Debenture Units for gross proceeds of C$35,088,000. According to the company, this money will be used to fund strategic investment opportunities particularly Nabis’ cannabis-related investments.
In a statement about the fundraise, Shay Shnet, the CEO and Director of Nabis said, "Through my years of experience in the cannabis industry I've realized that it takes a unique product offering, solid development, branding, and distribution to sustain a cannabis business, and the funding we've received will further our ability to improve on these areas."
Nabis Holdings President, Mark Krytiuk also shared a similar opinion, "Through my experience as a cannabis operator, I've overseen the production of medical marijuana and pharma-grade products across North America. Following our recent funding, I look forward to working with the Nabis team to grow our company and invest in additional high-quality cannabis ventures. We are one team with one goal, and together we’ll be able to transform the legal cannabis industry.”
With such an explosive growth plan, does it make sense to consider making a play for this penny stock? It's a little too early to tell but it seems a though they are on the right path.
About the Company
Defined as: ‘repeat performance’ or ENCORE
Innovative Properties Inc. (dba Nabis Holdings) is a Canadian investment company focused on investing in high quality cash flowing and strategic assets across multiple aspects of the cannabis sector primarily in U.S limited license states with a roadmap to expand globally.
The company will be focused on investing across the entire vertically integrated aspects of the space with a focus on strategic revenue generation, EBITDA and growth.
Nabis Investment Criteria
· Positive EBITDA, vertically integrated operators in limited license states with large addressable markets
· Emphasis on operations that add material EBITDA within 12 months with enhanced access to capital and Nabis’ value add approach on operations and brand consistency
· Identifying proven operators with good expertise to add value to a consolidation strategy
· Focused on MSO’s (Multi State Operators) with strong Brand traction
· Pharma grade Cultivation, Extraction, Dispensaries and other addressable operations
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