Innovative Properties Inc. d/b/a Nabis Holdings(CSE:NAB) (OTC:INNPF) (FRA:7IP), a diversified cannabis company led by two of the co-founders ofMPX Bioceutical Corp.(CSE:MPX) (OTC:MPXEF), recently announced that the companyhas entered into a binding letter of intentto invest in a 70% interest of Hivemind Refinery, a.k.a. HIVEMIND CBD.
“We are very excited to be investing in HIVEMIND as a key portfolio company focusing on the significant CBD market,”said Shay Shnet, CEO & Director of Nabis
Here’s What Investors Need to Know
The recent passing of the Farm Bill in the U.S. presents an extraordinary opportunity for Nabis to enter the CBD industry and capitalize on the estimated $22 billion dollarmarket.
HIVEMIND CBD is “an established wellness product line of CBD-based wellness products in the United States.”
The investment into HIVEMIND CBD expands Nabis’ investment portfolio to CBD edibles, water, drops, lotions, and other CBD wellness products across the spectrum and will fall under the company’s lifestyle brand.
Nabis Holdings anticipates the HIVEMIND CBD will be a premium consumer line of cannabidiol-based products to be distributed across the United States and Canada.
HIVEMIND’s focus will be on products utilizing locally grown premium CBD along with unique formulations and delivery systems.
All HIVEMIND CBD products will undergo stringent laboratory quality assurance and quality control before formulation as well as group batch testing on products before distribution.
The LOI is subject to definitive documentation and the transaction is expected to close in February 2019.
As more and more companies flood into the CBD market, competition is sure to heat up.In the meantime,be sure tosubscribe to updates hereso you never miss an important development.
Get Real-Time Updates from The Daily Marijuana Observer