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Innovative Properties Inc. d/b/a Nabis Holdings (CSE:NAB) (OTC: INNPF) (FRA: 71P), a leading Canadian investment company with specialty investments in assets across multiple divisions of the cannabis sector, this morning announced that, through a wholly owned subsidiary, it has entered a definitive agreement to purchase certain assets from PDT Technologies LLC (“PDT”). According to the update, the assets include extraction and production equipment, rights to lease PDT’s current production facility in Port Townsend, Washington, and exclusive licensing rights throughout Washington state to Chong’s Choice brand products, one of the leading and most recognizable brands in the cannabis space.
“Our agreement with PDT stands to dramatically expand our footprint and licensing capabilities in the well-established, state of Washington,” Nabis CEO and Director Shay Shnet said in the news release. “In connection with the acquisition, our expansion of the existing facility with a new ISO designed extraction clean room and GMP lab facility falls squarely within our aggressive expansion plans. Additionally, the included licensing rights for the Chong’s Choice brand represents a compelling addition to the recreational and lifestyle aspect of the Company’s investment portfolio in intellectual property.”
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About Innovative Properties Inc. (d/b/a Nabis Holdings)
Nabis Holdings is a Canadian investment issuer that invests in high quality cash flowing assets across multiple industries, including real property, securities, cryptocurrency, and all aspects of the U.S. and international cannabis sector. Led by two of the co-founders of MPX Bioceutical, one of the largest takeovers in the U.S. Cannabis space to date, the company has a proven track record in emerging markets to create significant shareholder value. 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, visit the company’s website at www.NabisHoldings.com
NOTE TO INVESTORS: The latest news and updates relating to INNPF are available in the company’s newsroom at http://cnw.fm/INNPF
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