REPEAT - Nabis Holdings Announces Strategic Investment in Bloombox - a Leading Intelligent Retail & Supply Chain Cannabis Sof...
06 February 2019 - 11:30PM
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Innovative Properties Inc. d/b/a Nabis Holdings (CSE:NAB; OTC:
INNPF, FRA:7IP) (“
Nabis” or the
“
Company”), is pleased to announce that the
Company has entered into a binding term sheet (“
Term
Sheet”) with Momentum Ideas Co.
(“
Momentum”) to acquire certain assets used and
marketed under the brand Bloombox (“
Bloombox”), a
leading intelligent retail cannabis software platform, including
the Bloombox Software and data platform (the
“
Investment”). The acquisition of Bloombox will
create a dominating presence in the U.S. cannabis market, featuring
an integrated ecosystem of modern, next-generation cannabis
technology. Bloombox is one of the world’s first standards-based
cannabis software systems, enabling frictionless integration with
nearly any business system or regulatory body.
Nabis will benefit from Bloombox’s revolutionary
identity platform, which redefines consumer-business interaction
through data and enables a new level of personalization at the
retail level. Integrated systems for menus, ordering, product
content, consumer marketing, loyalty programs, and more, will drive
success with both existing and new customers. Bloombox’s current
pipeline of clients, along with Nabis’ pipeline is anticipated to
put this cutting-edge platform to use in seven to ten U.S. States
in 2019.
The Bloombox team will be working closely with
Nabis, including Sam Gammon, who will be appointed as as Nabis’
Chief Technology Officer, upon the closing of the Investment, under
which the Bloombox platform will continue to expand. The platform
will remain available for 3rd-party operators to license for their
own use in a Software-as-a-Service (SaaS) model.
“Bloombox is a strategic investment for Nabis as
it creates a very well established retail and supply chain
ecosystem to be used and distributed across the Nabis’ network of
dispensaries across the United States,” said Shay Shnet, CEO &
Director of Nabis. “We look forward to working with the Bloombox
team to further establish this retail cannabis software as the
industry standard that we expect to be adopted by almost all
cannabis retail locations, supply chain, & users.”
“After years of laser focus on developing our
top-notch ecosystem of cannabis technology, I am thrilled to be
joining forces with Nabis, one of the top multi-state cannabis
investment companies,” said Sam Gammon, Founder & CEO of
Bloombox. “Together with Nabis, we can revolutionize the customer
experience and replace a plethora of outdated and inefficient
operating models. This partnership of Nabis & Bloombox
immediately positions us to shake up the status quo and sweep the
U.S. cannabis market. Between Nabis’ market reach and Bloombox’s
vision for a revolutionized cannabis supply chain and buying
experience, our retail presence will not only serve the largest,
most valuable markets in the world, but will do so at a cost that
other operators simply cannot compete with, all while delivering a
consumer experience that is unparalleled inside or outside the
cannabis sector,” continued Sam. ”We can now row towards one goal,
as one unified team: to create a vertically-integrated powerhouse
the likes of which this industry has never seen.”
Under the Term Sheet, the Company will issue to
Momentum two million common shares of Nabis (“Nabis Shares”) at a
deemed value of $1.00 per share for an aggregate purchase price of
$2 million for Bloombox. The Nabis Shares will be issuable upon
closing of the Investment and is subject to a statutory four
(4)-month hold period. If, after the date that is four
(4)-month and one day following closing, the 10-day volume weighted
average price of the Company’s shares on the Canadian Stock
Exchange (“CSE”) does not equal or exceed $1.65, the Company shall
issue an additional 500,000 Nabis Shares (“Additional
Shares”) to Momentum, at a deemed price equal to the
closing price of Nabis Shares on the CSE prior to the date of
issuance. The Additional Shares shall be restricted from resale for
an additional four (4)-month hold period from the date of issuance.
Momentum is an unrelated third party and the transaction is
expected to close in February 2019.
About Innovative Properties Inc. (d/b/a
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 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 ShnetCEO 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 investments 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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