VANCOUVER, British Columbia, Sept. 10, 2019 (GLOBE NEWSWIRE) -- PRESS RELEASE -- Nabis Holdings Inc., a Canadian investment company with specialty investments in assets across multiple divisions of the cannabis sector, has announced that it has closed the acquisition of a cultivation, production and fulfillment facility located in Camp Verde, Ariz., near Phoenix. This is the second announced acquisition for Nabis in the state of Arizona following its definitive agreement to acquire a licensed medical marijuana business including a Phoenix dispensary.
The 44,000-square-foot cultivation, fulfillment and production facility is located on 2.5 acres of total land and is one of the largest industrial warehouses in the Verde Valley. In addition to its expansive floor space, the property features a 4,000-square-foot mezzanine, 2,000 square feet of executive offices and a 2,00- square-foot production office; given the facility’s 56-foot ceiling height clearance, there is ample room for doubling growth. Acting as the hub of Nabis’ operations, the facility will play an integral role in the expansion of the company's business operations, adding to its portfolio of vertically integrated assets in Arizona.
Both the zoning verification letter and business license to cultivate marijuana in the Town of Camp Verde are secured with the sale. Nabis is currently in the process of completing the transfer of licenses.
“We are excited to progress on our growth strategy in Arizona with the purchase of the Camp Verde facility in keeping with our mission to expand cultivation and production operations into next year, ” said Shay Shnet, CEO and director of Nabis. “Our new hub, strategically located in the Southwest, will be designed with the highest standards in mind keeping production best practices as our mission. With the closing of this investment, we continue to work on expanding our footprint across U.S. limited license states as part of our U.S. cannabis strategy."