Nabis Holdings Inc. (INNPF) (NAB) Expands National Footprint with California Acquisition

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Nabis Expands National Footprint with California Acquisition

There are many multi-state operators seeking a slice of the $14.5 billion U.S. cannabis industry, but few have the ambition and expertise of Nabis Holdings Inc. (CSE: NAB) (OTC Pink: INNPF) (FSE: 7IP). Staying true to its name, meaning ‘repeat performance’ or ‘encore’, the co-founders behind MPX Bioceuticals Corp., which was purchased by iAnthus Capital Holdings Inc. for C$835 million, is looking to repeat and exceed its success.

Shay Shnet and Mark Krytiuk plan to continue to build a national presence. The goal? 18 states within 18 months of inception. The company began its quest only 6 months ago and is currently on pace to meet its ambitious targets. Nabis Holdings Inc. has signed definitive agreements on assets in Michigan, Arizona, Washington and now California. We are expecting a lot of great news in the coming months as the company aggressively pursues its strategy.

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Let’s take a closer look at this acquisition and the company’s activities across other limited license states.

Desert’s Finest Acquisition

California’s cannabis industry is projected to reach $5.1 billion this year, according to ArcView Market Research and BDS Analytics, driven by the legalization of adult-use cannabis last year. While the market has experienced some growing pains, there’s no doubt that it will quickly become one of the largest markets in the world. Nabis Holdings’ acquisition of Desert’s Finest represents its entry into this massive market.

Desert’s Finest is a 6,000 sq. ft. dispensary located in Desert Hot Springs, California – a city strategically-located less than two hours east of Los Angeles and north of San Diego. Currently, the dispensary has more than 37,000 registered patients and generated more than $5.7 million in sales over the past 12 months with a 47% gross profit margin. With only $5.7 million paid in consideration, the acquisition could provide a strong return on investment.

“As we continue national expansion of the Nabis footprint, we are pleased to announce our first acquisition in the state of California, one of the dominant cannabis markets in the United States,” said Shay Shnet, CEO & Director of Nabis. “Desert’s Finest has successfully generated material revenue driven in part by their convenient dispensary location in the Palm Springs region and extensive list of registered patients. We look forward to adding Desert Hot Springs to the Nabis portfolio and the loyal customer base to the Nabis brand.”

Deals on the Horizon

Nabis aims to expand this footprint into Michigan, Arizona and Washington State over the near-term with binding letters of intent to acquire operations in each. With some buildouts, plans for cultivation and operating dispensaries in play, each of these businesses are or will be EBITDA positive, vertically-integrated businesses in limited license states with large addressable clientele, which translates to high-quality access to strategic markets for investors interested in exposure to multi-state operators.

The company’s near-term deal flow includes:

  • Michigan – The company has closed the acquisition of five strategically-located properties that have municipal approval for provisioning centers throughout the state as well as 10 cultivation licenses and 1 production license. Nabis also has binding LOIs on 2 additional sites for provisioning centers.
  • Arizona – The company executed a binding LOI to acquire control over a basket of operating assets in the state, including dispensaries, indoor cultivators, and established branded products that are already in 25% all dispensaries.
  • Washington State – The company closed on a transaction to purchase extraction and production equipment and lease a production facility in Townsend, WA. Management plans to expand these operations to produce upwards of 20,000 kilograms of cannabis concentrate on an annual basis.

Looking Ahead

Nabis Holdings Inc. (CSE: NAB) (OTC: INNPF) (FSE: 7IP) is uniquely positioned to provide investors with diverse exposure to limited license states with strong growth potential. With 4 state already under its belt, management plans to expand into at least nine other states by the end of the year and 18 states within 18 months of starting its plans.

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Click here to read the full article:

Nabis™ Expands National Footprint with California Acquisition

Learn more about the company: https://www.nabisholdings.com/

Company Contact:

Shay Shnet, CEO and Director
PH: 604-687-7130
info@nabisholdings.com

Click here to read the full article:

Nabis™ Expands National Footprint with California Acquisition

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45670

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