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Copland Road Capital - formerly Nabis Holdings - is realizing a portfolio of revenue-generating cannabis assets

Last updated: 10:50 29 Jun 2022 EDT, First published: 06:30 14 Dec 2021 EST

Snapshot

  • Nabis Holdings says it and Caravel CAD Fund have inked an agreement of settlement for all legal proceedings previously commenced
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About the company

Copland Road Capital Corporation - formerly Nabis Holdings - is a Canadian investment company focused on investing in high quality cash flowing and strategic assets across multiple aspects of the cannabis sector primarily in US limited license states with a roadmap to expand globally. The company will be focused on investing across the entire vertically-integrated aspects of the space with a focus on strategic revenue generation, EBITDA and growth.

How it is doing

02 Nov 2021

Nabis Holdings Inc has announced that Caravel CAD Fund Ltd and the company have entered into binding minutes of settlement contemplating a full and final mutual release and that all legal proceedings previously commenced by the parties will be dismissed.

Nabis made the announcement as it announced that it has received an agreement proposal from over 75% of the holders of its 5.3% Senior Unsecured Notes due 2023 issued for the Senior Unsecured Notes Indenture made among the company, Odyssey Trust Company and certain guarantors dated January 26, 2021, and amended on April 1, 2021.

The proposal would agree on a series of transactions that would have the effect of acquiring all of the outstanding Senior Unsecured Notes for representing $64 per $100 principal amount of the debentures outstanding, on an “interest flat” basis following the sale of all of Nabis’ Subordinate Voting Shares of Verano Holdings Corp (CSE:VRNO, OTCQX:VRNOF). to Caravel CAD Fund for a consideration of $14,103,680.40 and under a plan of arrangement filed by the company in proceedings commenced under the British Columbia Business Corporations Act. 

As previously announced, Nabis shareholders approved the transaction, among other things, on September 28, 2021, at its annual and special meeting. The company has received funds in escrow for the sale of shares in anticipation of the closing of the transaction. 

28 Jul 2021

Nabis Holdings Inc. (CSE:NAB) has announced certain changes to its capital structure which will see it sell its holding of Verano Holdings Corp. (CSE:VRNO, OTCQX:VRNOF) voting shares for $17.49 million

Under a proposal issued under the Senior Unsecured Notes Indenture made among the company, Odyssey Trust Company and certain guarantors dated January 26, 2021 - and amended on April 1, 2021 - and received from over 75% of the holders of Nabis's 5.3% Senior Unsecured Notes due 2023, Nabis will enter into a series of transactions that would have the effect of selling all of the subordinate voting shares of Verano Holdings owned. by it to Caravel CAD Fund Ltd. for consideration of $17,495,705.

14 May 2021

Nabis Holdings Inc. (CSE:NAB) (OTCQB:NABIF) (FRA:A2P0) has announced the closing of a non-brokered private placement financing for gross proceeds of $252,000 through the issuance of 1,400,000 common shares at a price of $0.18 each.

The company said gross proceeds raised from the offering will be used for working capital and general corporate purposes. The securities issued upon closing of the offering are subject to a hold period until September 14, 2021, under applicable securities laws.

Buds & Duds: Cannabis stocks reverse; Nabis Holdings jumps after securing...

The North American Marijuana Index, lost 1.5% to 136 points. The OTCQX Cannabis Index dipped 1.4% to 504 points. Buds today were Nabis Holdings Inc (CSE:NAB) (OTCMKTS:NABIF), EuroLife Brands Inc (CSE:EURO) (OTCMKTS:CANVF). Duds were HEXO Corp (TSE:HEXO) (NYSE:HEXO), Aphria Inc (TSE:APHA)...

on 16/10/19