Nabis gets approval to repurchase, delist C$23 million 5.3% notes

By William Gullotti

Buffalo, N.Y., Nov. 29 – Nabis Holdings Inc. said it received 100% approval for its proposed plan to repurchase and delist all C$23 million outstanding 5.3% senior notes due Jan. 25, 2023, according to a press release on Monday.

At the noteholders’ extraordinary meeting, all of the votes cast, representing 78.55% of the notes, voted in favor of the plan.

As previously reported, the notes would be acquired on an “interest-flat” basis following the sale of all of Nabis’ 892,638 subordinate voting shares of Verano Holdings Corp. to Caravel CAD Fund Ltd. for C$14,103,680 under a plan of arrangement filed by Nabis in proceedings commenced under the British Columbia Business Corporations Act. The sale will fund the repurchase at an amount equal to C$64 for each C$100 principal amount of notes.

The company will attend a hearing before the Supreme Court of British Columbia at 12:45 p.m. ET on Dec. 1 to seek final court approval. Noteholders, or any other interested party, have the right to appear in person, or by counsel, and make submissions at the hearing if they file a response by 7 p.m. ET on Nov. 29.

Nabis is a Vancouver, B.C.-based Canadian investment issuer that invests in assets across multiple industries, including real property and the U.S. and international cannabis sector.

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