VANCOUVER, British Columbia, June 25, 2019 (GLOBE NEWSWIRE) -- Nabis Holdings Inc. (NAB.CN) (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.
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:
KCSA Strategic Communications
Shay Shnet, CEO and Director