- Nabis Holdings discussed the importance of cannabis legislative changes during an inaugural edition of a congressional cannabis forum in Washington, DC
- The company also announced the acquisition of a cannabis extraction and production facility in Washington state
- Through modernization and expansion, the company plans to ramp up the facility’s production capacity to 20,500 kilograms per year
Jade Green, special advisor to Nabis Holdings (CSE: NAB) (OTC: INNPF) (FRA: 71P), participated in the KCSA Strategic Communications’ Inaugural Congressional Cannabis Day Forum that took place in Washington, DC on May 21, 2019. Green attended a panel discussing important legislative changes such as the federal Farm Bill and the impact that these developments have had on the cannabis industry, according to a company press release (http://cnw.fm/LHo2T).
This first-of-its-kind event provided opportunities for engagement in dialogue about cannabis and the related legislative changes occurring in the country, Green said in a news release. “Nabis will continue to be a part of the resounding voices urging congress to modernize federal cannabis laws to more effectively facilitate the growth of America’s small businesses and provide protections for consumers,” she continued.
The aim of the Congressional Cannabis Day Forum was to take a deep look at the current state and the future of the cannabis industry. The forum featured a series of panel discussions that focused on critical issues like capital markets, social justice, veterans’ issues and CBD/hemp, among others.
Nabis Holdings is a Canadian investment company that invests in high quality assets across various industries. Its primary areas of specialization include cryptocurrency, securities, real property and all aspects of the U.S. and international cannabis sectors.
Earlier in May, the company released information about a new key acquisition in the U.S. cannabis sector. On May 13, 2019, Nabis Holdings announced the purchase of several assets from PDT Technologies LLC, including an established cannabis extraction and production facility in Washington State (http://cnw.fm/c4hN0).
A definitive agreement for the purchase has already been signed. In addition to the production facility, Nabis Holdings will be purchasing extraction and production equipment, as well as the exclusive licensing rights throughout Washington for a leading brand of cannabis products called ‘Chong’s Choice’.
The PDT production facility, based in Port Townsend, specializes in high grade cannabis concentrate. Through an investment of approximately $3 million, Nabis plans to expand the facility to include new specialized equipment, two new extraction lines, a lab facility and a clean room.
Following the improvements, the facility’s capacity is expected to reach 20,500 kilograms of cannabis concentrate per year.
Finalizing the agreement with PDT will enable Nabis to expand its footprint and licensing capabilities in Washington state, Nabis CEO Shay Shnet said in a news release. The purchase of new equipment and modification of the existing facility are both in line with the company’s aggressive expansion plan.
Washington state has a relatively mature market with proven metrics. Nabis Holdings will continue evaluating new local opportunities, as well as acquisition possibilities in other limited license states.
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/NAB
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