Innovative Properties Inc. d/b/a Nabis Holdings

08:53 AM EST - Innovative Properties Inc. d/b/a Nabis Holdings : Announced that it has completed its investments, in strategically located property in Bangor City, Michigan, that has received municipal approvals for ten cultivation licenses and one processing license. This property allows Nabis to grow indoor, outdoor and greenhouse cannabis with an unlimited stacking ability of cultivation licenses. Cultivation at the property is expected to commence in the first quarter of 2020. Nabis Holdings will be developing a 60,000 sq. ft. indoor cultivation and processing centre and a 45,000 sq. ft. hybrid greenhouse. "In early 2020, our Bangor property will become a critical cultivation center for our Michigan operations, with projected harvest of more than 40,000 pounds per of dry flower per year and have the capability of producing over 35,000 pounds of high grade distillate at its full capacity," said Shay Shnet, CEO & Director of Nabis. "We remain committed to our aggressive cross-country expansion as we seek out additional opportunities in limited license states that will bolster our cultivation capabilities and expand the Company's footprint." Innovative Properties Inc. d/b/a Nabis Holdings shares NAB:CNX are trading pre market at $0.62.