About Nabis Holdings Inc.
Nabis Holdings is a Canadian investment issuer that invests in assets across multiple industries, including real property and the U.S. and international cannabis sector. For more information, please visit https://www.nabisholdings.com/.
Cautionary Statements
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The New Unsecured Notes and New Common Shares have not been and will not be registered under the U.S. Securities Act or any state securities laws, and may not be offered or sold in the United States or to or for the account or benefit of U.S. persons, except in certain transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws. “United States” and “U.S. person” are as defined in Regulation S under the U.S. Securities Act.
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Nabis Holdings Inc. Provides Update on Arizona Operations
Nabis Holdings Inc.February 2, 2021 GMT
VANCOUVER, British Columbia, Feb. 02, 2021 (GLOBE NEWSWIRE) Nabis Holdings Inc. (CSE: NAB) (OTC: NABIF) (FRA: A2PL) (“Nabis” or the “Company”) today provided an update on Arizona operations.
Yesterday, Perpetual Healthcare Inc. received its “Dual License” from the Arizona Department of Health Services, enabling it to sell cannabis products to adult users in addition to continuing to service its established medical clientele. Perpetual intends to commence sales to the “adult use” market as quickly as practicable.
y“) today provided a corporate update as set out below.
At a meeting of Nabis’ directors held yesterday, the Board ratified the appointment of Bruce Langstaff as Executive Chairman and appointed Jared Carroll as the Chair of the Audit Committee of the Board of Directors. Scott Kelly and Jennifer Law were also appointed as members of the Audit Committee.
The directors also considered strategic alternatives available to Nabis in the light of its size, its financial position, market conditions, and other relevant considerations. As a result of these considerations, the Company has adopted the strategy of seeking to maximize and realize upon the value of its assets, where possible, in order to put itself in the position to discharge its remaining liabilities and to create tangible value for its shareholders. While Nabis intends to evaluate opportunities in this regard, there can be no assurance that it will enter into any transaction or series of transactions that will accompli
Proposal“) under the
Bankruptcy and Insolvency Act (Canada), pursuant to which the Company implemented a recapitalization of its previously outstanding CDN$35 million principal amount of 8.0% unsecured convertible debentures (the “
Debentures“) and all other prior debts of the Company (the “
Recapitalization“).
Upon implementation of the Proposal, (i) all existing equity claims in the Company were irrevocably and finally extinguished; and (ii) in full and final satisfaction of all claims of Nabis’ creditors, which were irrevocably and finally extinguished, the Company issued an aggregate of 3,700,000 new common shares in the capital of the Company (“
New Common Shares“) and an aggregate principal amount of CDN$23 million new 5.3% senior unsecured notes due 2023 (“
Nabis Holdings Inc. Provides Important Update on Implementation of Proposal
IMPORTANT INSTRUCTIONS TO RECEIVE SECURITIES UNDER THE PROPOSAL
VANCOUVER, British Columbia, Jan. 21, 2021 (GLOBE NEWSWIRE) Nabis Holdings Inc. (CSE: NAB) (OTC: NABIF) (FRA: A2PL) (
Nabis or the
n
y ) is providing an important update to the Company s previously announced proposal (as amended from time to time, the
Proposal ) under the
Bankruptcy and Insolvency Act (Canada), pursuant to which the Company will implement a recapitalization of the Company s outstanding CDN$35 million principal amount of 8.0% unsecured convertible debentures (the
Debentures ) and all other debts of the Company (the
Recapitalization ). Further to the Company s news release dated January 4, 2021, the Company intends on implementing the Proposal on or prior to January 29, 2021 (the