NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, Jan. 26, 2021 (GLOBE NEWSWIRE) — Nabis Holdings Inc. (CSE: NAB) (OTC: NABIF) (FRA: A2PL) (“Nabis” or the “Company“) right now introduced that it has accomplished its beforehand introduced proposal (the “Proposal“) beneath the Chapter and Insolvency Act (Canada), pursuant to which the Firm applied a recapitalization of its beforehand excellent CDN$35 million principal quantity of 8.0% unsecured convertible debentures (the “Debentures“) and all different prior money owed of the Firm (the “Recapitalization“).
Upon implementation of the Proposal, (i) all current fairness claims within the Firm have been irrevocably and at last extinguished; and (ii) in full and ultimate satisfaction of all claims of Nabis’ collectors, which have been irrevocably and at last extinguished, the Firm issued an combination of three,700,000 new widespread shares within the capital of the Firm (“New Widespread Shares“) and an combination principal quantity of CDN$23 million new 5.3% senior unsecured notes due 2023 (“New Unsecured Notes“) on the phrases set out within the Proposal.
The Debentures beforehand posted for buying and selling on the Canadian Securities Alternate (the “CSE“) beneath the ticker image “NAB.DB” and the Firm’s warrants beforehand posted for buying and selling on the CSE beneath the ticker image “NAB.WT” have been each cancelled pursuant to the Proposal and have been delisted from the CSE as of shut of markets right now. The Firm’s beforehand excellent widespread shares that have been cancelled pursuant to the Proposal have been delisted and concurrently the New Widespread Shares have been listed beneath a brand new CUSIP on the CSE, every efficient as of shut of markets right now. The New Unsecured Notes will start buying and selling on the CSE on January 27, 2021 beneath the ticker image “NAB. NT”.
In reference to the implementation of the Proposal, all the prior administrators of Nabis have been deemed to have resigned, and have been changed with every of Bruce Langstaff, Jennifer Regulation, Scott Kelly and Jared Carroll. Nicole Rusaw has agreed to stay as a advisor to the Firm.
Vital Reminder Relating to Certification Deadline
As an essential reminder, the Firm and the Consenting Debentureholders (as outlined within the Proposal) have set March 1, 2021 because the deadline (the “Certification Deadline“) for all holders of Debentures (“Debentureholders“) and all different collectors to obtain consideration beneath the Proposal (aside from Comfort Collectors (as outlined within the Proposal)) (collectively with the Debentureholders, the “Debtholders“) to certify as to their eligibility to obtain their professional rata share of New Widespread Shares and New Unsecured Notes. Debtholders who usually are not eligible to obtain the New Widespread Shares and New Unsecured Notes or who fail to certify as to their eligibility to obtain the New Widespread Shares and New Unsecured Notes by the Certification Deadline will obtain the web money proceeds, if any (“Web Money Proceeds“), realized from the sale of their professional rata share of New Widespread Shares and New Unsecured Notes on the CSE or such different alternate on which the New Widespread Shares and New Unsecured Notes are listed and posted for buying and selling, performed by a promoting agent (the “Promoting Agent“) to be appointed by the Firm. Vital directions for Debtholders to obtain securities pursuant to the Proposal are contained within the Firm’s information launch dated January 21, 2021.
About Nabis Holdings Inc.
Nabis Holdings is a Canadian funding issuer that invests in property throughout a number of industries, together with actual property and the U.S. and worldwide hashish sector. For extra info, please go to https://www.nabisholdings.com/.
This information launch shall not represent a suggestion to promote or the solicitation of a suggestion to purchase any securities in any jurisdiction by which such provide, solicitation or sale could be illegal. The New Unsecured Notes and New Widespread Shares haven’t been and won’t be registered beneath the U.S. Securities Act or any state securities legal guidelines, and might not be supplied or bought in the USA or to or for the account or good thing about U.S. individuals, besides in sure transactions exempt from the registration necessities of the U.S. Securities Act and relevant state securities legal guidelines. “United States” and “U.S. individual” are as outlined in Regulation S beneath the U.S. Securities Act.
Sure statements included herein are forward-looking statements, together with statements regarding the anticipated date the New Unsecured Notes will start buying and selling on the CSE, the timing and impression of the Certification Deadline, the flexibility of the Promoting Agent to promote the New Unsecured Notes and New Widespread Shares and the provision of Web Money Proceeds, if any. There will be no assurance that such statements will show to be correct and precise outcomes and future occasions may differ materially from these anticipated in such statements. These forward-looking statements are topic to sure dangers and uncertainties. Vital components that might trigger precise outcomes to vary, materially from the Firm’s expectations are disclosed within the Firm’s paperwork filed occasionally with the CSE, the British Columbia Securities Fee, the Ontario Securities Fee and the Alberta Securities Fee. The Firm has no obligation to replace such forward-looking statements besides as required by relevant regulation.
The Canadian Securities Alternate has neither reviewed nor authorized the contents of this information launch and accepts no duty for the adequacy or accuracy of this launch.
For inquiries, please contact:
Nicole Rusaw, Marketing consultant