Nabis Hemp Holdings, Inc. Secures Full Hemp License in Arizona
VANCOUVER, British Columbia, Jan. 20, 2020 (GLOBE NEWSWIRE) — Nabis Holdings, Inc. (CSE: NAB | OTCQB: NABIF | FRA:A2PL) (“Nabis” or the “Company“), an experienced Canadian investor with a portfolio of vertically integrated multi-state cannabis operations across the U.S., is pleased to announce that it has secured Arizona Department of Agriculture Hemp Licenses under its wholly-owned subsidiary, Nabis Hemp Holdings, LLC. The Company successfully secured all five types of hemp licenses available, including licenses to: Nurse; Grow; Harvest; Transport; and Process.
“We are thrilled to have secured all available hemp license classifications for Arizona in Q1 2020,” said Mark Krytiuk, COO of Nabis. “This gives Nabis the ability to manufacture our own CBD oil extracts for our BIS and BIS+ line of products, allowing for better cost control and increased margins and profitability. Hemp production will take place at the Company’s Camp Verde compound, a 44,000 square foot cultivation, production and fulfillment facility located on 2.5 acres of land in Camp Verde, near Phoenix, Arizona. For additional information on the Company’s BIS line, please visit https://www.beinsynergy.com/.Krytiuk further commented, “adding hemp licenses to our vertically integrated cannabis portfolio in Arizona enables the Company to expand our existing product offerings to better serve the needs of our established Arizona customer base of over 36,000 patients and adds another channel for the Company to create long-term value to our loyal shareholders.”About Arizona Hemp
On December 20, 2018 the 2018 Federal Farm Bill was signed into law and legalized industrial hemp (“hemp”) by excluding it from the definition of marijuana. It also expanded the definition to include seeds, all derivatives, extracts, cannabinoids (including Cannabidiol (CBD)), isomers, acids, salts, and salts of isomers. The Department of Agriculture began issuing hemp licenses on May 31, 2019.For inquiries, please contact:
Shay Shnet, CEO