Nabis Holdings Inc. to Postpone Annual and Q1 Statutory Filings Due to COVID-19 Related Delays
VANCOUVER, British Columbia, April 24, 2020 (GLOBE NEWSWIRE) — Nabis Holdings Inc. (CSE:NAB) (OTC: NABIF) (FRA: A2PL) (“NabisTM” or the “Company”), a Canadian investment company with specialty investments in assets across multiple divisions of the cannabis sector, today announced that due to circumstances created by the COVID-19 pandemic, the BCSC and other members of the Canadian Securities Administrators granted “Issuers” in the Canadian securities industry up to an additional 45 days to complete year-end and Q1 F2020 statutory filings. As a result of COVID-19 related inefficiencies, the Company will not be able to file its December 31, 2019 audited annual financial statements, Management Discussion and Analysis and Annual Information Form by its usual 120-day deadline of April 29, 2020 and will be relying on the extension. The Company will not file its March 31, 2020 financial statements and related Management Discussion and Analysis by its usual 60-day deadline of May 30, 2020 and will also be relying on the extension.
Accordingly, as required by the conditions of the extension, the Company’s management and other insiders will be subject to a trading black-out that reflects the principles in Section 9 of National Policy 11-207 until the statutory documents are filed, which will be on or before June 12, 2020. The Company intends to file the Q1 Fiscal 2020 documents no later than July 14, 2020. Other than as previously disclosed by the Company in news releases, including the information herein, there are no other material business developments since the date of the Company’s most recent filing of the unaudited interim financial statements and associated management’s discussion and analysis for the three and twelve month periods ended October 31, 2019.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 and all aspects of the U.S. and international cannabis sector. The Company is focused on investing across the entire vertically integrated aspects of the space with a focus on revenue generation, EBITDA and growth. For more information, please visit https://www.nabisholdings.com/.Forward-Looking Statements
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: Shay Shnet, CEO and Director