Seattle, Washington--(Newsfile Corp. - June 7, 2019) - CFN Media Group ("CFN Media"), the leading agency and financial media network dedicated to the North American cannabis industry, announces publication of an article covering Nabis Holdings Inc. (CSE: NAB) and an exclusive interview with its President Mark Krytiuk.
Nabis Holdings Inc. (CSE: NAB) was founded by two of the four founders of MPX Bioceutical Corp., which was one of the first companies to successfully become a multi-state operator, or MSO, in the United States. In October 2018, MPX was acquired by iAnthus Capital Holdings Inc. for C$835 million in equity, making it one of the largest acquisitions made in the United States cannabis industry.
CFN Media recently caught up with Nabis Holdings President Mark Krytiuk at this year's Benzinga Cannabis Capital Conference to discuss Nabis Holdings and the founders' goal to repeat and exceed their success with MPX.
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Why Multi-State Operators?
The United States cannabis industry is projected to reach $25 billion by 2025, according to New Frontier Data, driven by the legalization of recreational and medical cannabis across a growing number of jurisdictions. While many cannabis operations began as local businesses in a single state, multi-state operators, or MSOs, have become increasingly commonplace, leveraging their capital and expertise across multiple states.
Last year, a record number of U.S. companies listed on the Canadian Securities Exchange (CSE) to raise capital to deploy into building a presence in the United States. MSOs accounted for the top five capital raises on the exchange, totaling $1.52 billion, according to MJBizDaily, and these trends are poised to continue into 2019. Many of these companies are focused on states such as California with expanding programs or newly legal states like Florida.
The problem for investors is that competition is fierce and many MSOs are led by inexperienced management teams. While these companies may be proficient at raising capital, many teams lack industry-specific experience that's critical to create lasting brands. Many teams also lack the regulatory know-how to navigate complex interstate issues given the lack of a cohesive legalization framework on a national level.
Repeating the Success at MPX
Nabis Holdings' founders aim to repeat & exceed the success of MPX by following a similar playbook - which shouldn't be surprising given that 'nabis' means 'repeat performance'. By acquiring high-quality cannabis assets across the United States, the company aims to become a leading multi-state operator with a focus on acquiring EBITDA-positive operations with proven operating experience and strong brand traction.
The company's management team will assist portfolio companies in enhancing their operational pedigree. CEO Shay Shnet was VP of Operations at MPX and was instrumental in identifying unique opportunities, while President Mark Krytiuk was VP of Grow Operations and brings more direct experience in cultivation. The company will also leverage potential synergies between its portfolio companies to enhance overall value.
So far, the company has completed a number of acquisitions in Washington State and executed binding letters of intent to acquire vertically-integrated assets in Michigan and Arizona. In addition, the company is looking at several other 'off market' opportunities in states like California, Oregon, Oklahoma, Ohio, and Nevada. The goal is to reach C$14.8 million in 2019 revenue and C$167 million in 2020 revenue with 55% gross margins.
Nabis Holdings Inc. (CSE: NAB) has what many cannabis companies lack - an experienced management team that has done it before. By leveraging this experience, the company aims to repeat its success in building a leading U.S. presence in mission-critical states like Michigan, California, and Arizona. Investors may want to keep an eye on the stock given the company's near-term catalysts as it moves from LOIs to tangible acquisitions.
Click here to read the full article: https://www.cannabisfn.com/nabis-founders-look-to-repeat-success-build-a-leading-cannabis-mso/
For more information, visit the company's website at www.nabisholdings.com.
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