Tuesday, January 25th | 23 Shevat 5782

June 4, 2019 9:54 am

Nabis Holdings to Acquire 49 Percent of Israeli Cannabis Company Cannova Medical

avatar by Adi Pick / CTech

An employee tends to a medical cannabis plants at Pharmocann, an Israeli medical cannabis company in northern Israel, Jan. 24, 2019. Photo: Reuters / Amir Cohen / File.

CTech – Canadian Securities Exchange-listed Nabis Holdings, a Canadian company focused on cannabis investments, will be acquiring a 49 percent stake in Israel-based Cannova Medical, the former announced Monday. Nabis will pay Cannova $1 million and also issue Cannova 5,911,111 common shares of Nabis, according to the company’s statement. Following the acquisition, Nabis will have exclusive distribution rights for Cannova’s product in North America.

Incorporated earlier this year, Cannova develops a strip for oral administration of active cannabis substances, to allow producers to more effectively control dosage quantities and safety in the delivery of cannabinoid products.

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