Nabis Holdings Closes Acquisition of 49% of Cannova Medical, A Creator of Innovative Solutions for Cannabis Consumption
June 25 2019 - 8:13AM
Nabis Holdings Inc. (CSE:NAB) (OTC: NABIF) (FRA:
A2PL) (“NabisTM” or the “Company”), a leading Canadian investment
company with specialty investments in assets across multiple
divisions of the cannabis sector, today announced that it has
completed the purchase of 2,260,500 common shares, representing a
49% interest, of Cannova Medical Ltd. (“Cannova”), a provider of
innovative solutions for cannabis consumption, with the option to
acquire the remaining 51% interest.
Cannova, based in Israel, is developing an
alternative method for cannabis consumption in the form of a
sublingual strip. The sublingual strips are infused with cannabis
molecules that are produced using a patent-protected process
involving the combination of various formulations with water
soluble cannabinoids and natural active ingredients. The sublingual
strip allows producers to more effectively control dosage
quantities and significantly increases the effect of the cannabis,
allowing it to be used for a variety of purposes including pain
management, concentration, as an antidepressant, and to support
better sleep.
Additionally, Cannova is developing the NovaJet
Pro (“NovaJet”), an innovative, counter-top machine that enables
clients to create customized film strips at the convenience of
their homes, in real time. With the NovaJet, clients will be able
to receive accurate and tailored sublingual strips with specific
measured quantities of cannabinoids and other natural substances,
customised to their unique demand.As per the purchase agreement,
Nabis will retain Exclusive Distribution Rights to both Cannova’s
sublingual strips, as well as the company’s NovaJet printing
machine. The products will be marketed to both the recreational and
medical markets.
“Our goal for strategic investments at Nabis is
to enter multiple aspects of the cannabis sector including related
technology,” said Shay Shnet, CEO & Director of Nabis. “The
Cannova team is focused on developing innovative solutions
addressing an industry wide concern to have the ability to better
measure cannabis consumption. We are thrilled to have closed our
49% interest acquisition enabling the Cannova team to bring this
disruptive technology to market at an increased pace.”
“At Cannova we are developing unique solutions
addressing the unmet need for reliable and customized cannabis
consumption. The combination of cannabis with smart and innovative
technology is key to the future of both medical and recreational
cannabis usage,” said Omri Schanin, Founder & CEO of Cannova.
“We are excited to work with the Nabis team leveraging their
extensive experience and capabilities to help us reach our growth
goals faster.”
This news release does not constitute an offer
to sell or a solicitation of an offer to buy any of the securities
described herein, and these securities were not offered or sold in
any jurisdiction in which their offer or sale would be unlawful.
The securities have not been and will not be registered under the
U.S. Securities Act of 1933, as amended, (the
“Act”) or any state securities laws of the United
States. Accordingly, these securities were not offered or sold to
persons within the United States unless an exemption from the
registration requirements of the Act and applicable state
securities laws is available.
About Cannova Medical
Cannova is a biotechnology company focused on
development of innovative, patent protected, delivery technology
platform for cannabis substances together with other natural
ingredients. The platform, a sublingual film, can effectively bind
various active substances, including cannabinoid and natural
substances to, or via, oral mucosal membranes (under the tongue)
and by doing so, greatly improve bioavailability of cannabinoid
molecules. Cannova’s controlled release solution is an oral thin
film that leads to dosing accuracy, higher bioavailability,
enhanced efficacy, and safety in the delivery of cannabinoids.
For more information, please visit
https://cannova-medical.com/.
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, 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, 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:
Investor Contact:Allison SossKCSA Strategic
Communications PH: 212-896-1267Nabis@kcsa.com
Company Contact:Shay Shnet, CEO and DirectorPH:
604-687-7130info@nabisholdings.com
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