VANCOUVER, British Columbia, Jan. 20, 2020 (GLOBE NEWSWIRE) -- Nabis Holdings, Inc. (CSE: NAB | NABIF | FRA:A2PL) ("Nabis" or the "Company"), an experienced Canadian investor with a portfolio of vertically integrated multi-state cannabis operations across the U.S., is pleased to announce that it has secured Arizona Department of Agriculture Hemp Licenses under its wholly-owned subsidiary, Nabis Hemp Holdings, LLC. The Company successfully secured all five types of hemp licenses available, including licenses to: Nurse; Grow; Harvest; Transport; and Process.
“We are thrilled to have secured all available hemp license classifications for Arizona in Q1 2020,” said Mark Krytiuk, COO of Nabis. “This gives Nabis the ability to manufacture our own CBD oil extracts for our BIS and BIS+ line of products, allowing for better cost control and increased margins and profitability. Hemp production will take place at the Company’s Camp Verde compound, a 44,000 square foot cultivation, production and fulfillment facility located on 2.5 acres of land in Camp Verde, near Phoenix, Arizona. For additional information on the Company’s BIS line, please visit https://www.beinsynergy.com/.
Krytiuk further commented, “adding hemp licenses to our vertically integrated cannabis portfolio in Arizona enables the Company to expand our existing product offerings to better serve the needs of our established Arizona customer base of over 36,000 patients and adds another channel for the Company to create long-term value to our loyal shareholders.”
About Arizona Hemp
On December 20, 2018 the 2018 Federal Farm Bill was signed into law and legalized industrial hemp ("hemp") by excluding it from the definition of marijuana. It also expanded the definition to include seeds, all derivatives, extracts, cannabinoids (including Cannabidiol (CBD)), isomers, acids, salts, and salts of isomers. The Department of Agriculture began issuing hemp licenses on May 31, 2019.
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 and all aspects of the U.S. and international cannabis sector. 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 Statements
All 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:
Shay Shnet, CEO
PH: 416.223.2300
[email protected]
