
INVESTMENTS
FOCUSED M&A
INVESTMENT STRATEGY
HANDS ON APPROACH
Nabis Management’s hands-on approach will assist investee companies enhance their operational pedigree
STRATEGY
Investments through combination of Cash & Shares along with incentive bonuses
ALIGNMENT
Strong preference for sellers to take a significant portion of the consideration in the form of equity—want sellers to be aligned with existing shareholders
THE CRITERIA
-
Positive EBITDA, vertically integrated operators in limited license states with large addressable markets
-
Emphasis on operations that add material EBITDA within 12 months with enhanced access to capital and Nabis’ value add approach on operations and brand consistency
-
Identifying proven operators with good expertise to add value to a consolidation strategy
-
Focused on MSO’s (Multi State Operators) with strong Brand traction
-
Pharma grade Cultivation, Extraction, Dispensaries and other addressable operations

CASE STUDY | ARIZONA
3rd largest
medical cannabis market in the US
Expected 25%
patient growth
10% cap
on number of allowable dispensaries of the states total pharmacies
Legal Status: Medical
Estimated consumption rate: 7%+
Estimated medical spending: $630 Million

Source: Arcview Market Research & BDS Analytics

CASE STUDY | CALIFORNIA
Largest cannabis market in the US
License obtainment is process oriented versus competitive
~1800 license holders in California with 13 companies holding 10% of the licenses
Aggressive enforcement by state of illegal operators
Existing opportunity for sophisticated and mature operators
Legal Status: Medical and recreational
Estimated consumption rate: 10.7%+
Estimated medical spending: $3.4 Billion


FUTURE GROWTH TO OTHER MARKETS
MICHIGAN
-
Medical & recently Recreational legal
-
Is one of the largest medical markets
-
in the US
MASSACHUSETTS
-
Recreational is legal with sales just recently starting
-
Favorable, workable regulations has lead to smooth roll-out
NEVADA
-
Fastest roll-out of recreational use to date
-
Demand far exceeded expectation
The global legal marijuana market is expected to reach USD 146.4 Billion by end of 2025
Grand View Research, Inc. April 2018