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VANCOUVER, British Columbia, Feb. 26, 2019 (GLOBE NEWSWIRE) — Innovative Properties Inc. D/b/a Nabis Holdings (CSE: NAB; OTC: INNPF, FRA:7IP) (“Nabis” or the “Company”) is thrilled to announce that the Company has entered right into a binding Letter of Intent (“LOI”) to acquire belongings strategically located inside the town Bangor, Michigan that has municipal approvals for ten Cultivation licenses and one Processing license for a complete consideration of USD 775,000. This strategic belongings investment would take Nabis’s total to eight certified centers in Michigan, assuming the closing of the five houses previously announced on January 17, 2019, and two properties already introduced on January 24, 2019. The Company is currently comparing additional municipally authorized places in the State and different restrained license States.
Cultivation at these assets is expected to commence in Q3/19 with a predicted output of the first harvest cycle to supply about three 750 lbs according to harvest and approximately 22,000 pounds per yr. A finder’s fee may be payable concerning this transaction to an unrelated 1/3 birthday party. The LOI is a concern to definitive documentation, and the deal is predicted to shut in March 2019.
About Innovative Properties d/b/a Nabis Holdings
Nabis Holdings is a Canadian funding issuer that invests in great high cash flowing property throughout a couple of industries, along with actual wealth, securities, cryptocurrency, and all elements of the U.S. And global hashish sector. Using the co-founders of MPX Bioceutical (CSE: MPX), one of the biggest takeovers within the U.S. Cannabis space so far, the agency has established a track file in rising markets to create substantial shareholder price. The Company is focused on investing in the completely vertically integrated aspects of the space, focusing on sales generation, EBITDA, and growth. The CSE does now not take delivery of obligation for the adequacy or accuracy of this release.
All statements, aside from reports of historical truth, protected herein are ahead-looking statements that involve various risks and uncertainties. There may be no warranty that such statements will show real and actual consequences, and future activities could range materially from those anticipated in such statements. The dangers are without boundaries: that the acquisitions can be finished by using the Company or finished upon the phrases disclosed; the fee for hashish and related products will stay regular, and the purchaser demand remains sturdy; availability of financing to the Company to expand the retail places; retention of key employees and management; modifications in State and/or municipal regulations of retail operations and changes in government regulations typically. In addition, essential elements that could motive real effects to differ materially from the Company’s expectancies are disclosed inside the Company’s documents filed now and then with the Canadian Securities Exchange, the British Columbia Securities Commission, the Ontario Securities Commission, and the Alberta Securities Commission.