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VANCOUVER, British Columbia, April 04, 2019 (GLOBE NEWSWIRE) -- Innovative Properties Inc. d/b/a Nabis Holdings
(CSE:NAB; OTC: INNPF; FRA: 71P) (“Nabis” or the “Company”) is pleased to announce that it has
completed its investments (“Investments”) in strategically located properties that have municipal approvals for provisioning
centres in Muskegon (“Muskegon”) and Bangor City (“Bangor City”), both located in Michigan. The Company is currently targeting to
complete five additional provisioning centers acquisitions in the coming weeks to a total of seven provisioning centers in
Michigan. Nabis is currently evaluating ten to fifteen additional municipally-approved locations in Michigan which will
substantially increase the Company’s overall presence in the U.S. cannabis space.
“The completion of our investments in the Muskegon & Bangor City provisioning centres in Michigan are only the
start of an aggressive cross-country expansion for Nabis,” said Shay Shnet, CEO & Director of Nabis. “With the recent closing of
our $35 million private placement debenture financing, we are planning to move aggressively to expand our presence in many other
limited license states.”
Pursuant to the investment agreements, the Company paid a combination of cash at closing and deferred cash for
an undisclosed total amount. The Company will issue Finder fee shares subject to the board and CSE approval.
With the closing of the Investment, the Company is working to complete the remainder of its previously announced
binding Letter of Intent (“LOI”) as it continues to grow its footprint as part of the Company’s U.S. cannabis strategy.
About Innovative Properties Inc. (dba 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 (CSE:MPX), 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.
ON BEHALF OF THE BOARD OF DIRECTORS
“Shay Shnet”
Shay Shnet
CEO and Director
For inquiries, please contact 604-687-7130 or email info@nabisholdings.com.
The CSE does not accept responsibility for the adequacy or accuracy of this
release.
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.
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