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VANCOUVER, British Columbia, Nov. 27, 2018 (GLOBE NEWSWIRE) — Innovative Properties Inc. (CSE:INR) (“Innovative Properties” or the “Company”) is pleased to announce the appointments of Shay Shnet as CEO and Director, and Mark Krytiuk as President. 

Mr. Shay Shnet has over 20 years of experience in business and was most recently one of the founding partners and Vice President of Operations of MPX. While at MPX, Mr. Shnet spent the last 5 years of his career focused on the North American cannabis space helping build MPX’s portfolio of international cannabis assets. Shay is highly skilled in finding unique opportunities and has been directly involved with the development, branding, importing, consumer packaging and distribution of a wide variety of product lines. In his role as Chief Executive Officer, Mr. Shnet will focus on building a diversified portfolio of assets leveraged to the U.S. cannabis industry and strive to make Innovative Properties a leader and first mover in certain high value markets.

“This is a very exciting time for Innovative Properties – the U.S. Cannabis space is ripe for growth and we plan to identify multiple opportunities across the space to invest in,” stated Mr. Shnet. “I look forward to excelling in this leadership role at Innovative Properties, with the objective of making the Company a premier global play in the Cannabis space.”

Mr. Mark Krytiuk is a successful cannabis operator and was a founding partner of MPX. Mark has over 5 years of experience as the Vice President of Grow Operations of MPX overseeing the production of medical marijuana and pharma-grade products across North America. Mark has been directly involved in overseeing the design and or build out of nine facilities in three different countries, with ranging budgets of up to $30 million. Mark also has over 10 years of experience consulting and working with customers to develop their individual requirements for their indoor, outdoor cultivation and processing space. Specifically, all required design, workflow and equipment along with working with federal regulators and licensing bodies to ensure compliance.

“It is very fitting that we are in the process of changing the Company’s name to Nabis Holdings Inc. and ticker to NAB,” stated Mr. Krytiuk. “Nabis is defined as ‘Encore’ and we plan to work very efficiently to repeat our previous success and find investment opportunities to create significant shareholder value in the coming months.”

The Board of Directors wishes to thank Kevin Ma for serving as interim Chief Executive Officer and Ms Emmery Wang for serving as a director of the Company.  Mr. Ma will continue serving Innovative Properties as an Advisor and remain a member of the Board of Directors. Ms Wang will continue serving Innovative Properties as Chief Financial Officer.  The Company also announces that it has granted an aggregate of 250,000 incentive stock options to a consultant to purchase up to 250,000 common shares in the capital of the Company. The incentive stock options have an exercise price of $0.38 per share and expire five years from the date of grant. As a result of this option grant, Innovative Properties has 5,550,000 stock options outstanding, representing 5.9% of the issued and outstanding share capital of the Company.

ON BEHALF OF THE BOARD OF DIRECTORS

“Shay Shnet”

Shay Shnet
CEO and Director

For inquiries, please contact (604) 687-7130 or email [email protected].

The CSE does not accept responsibility for the adequacy or accuracy of this release.

All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ, materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time with the Canadian Securities Exchange, the British Columbia Securities Commission, the Ontario Securities Commission and the Alberta Securities Commission.