Innovative Properties Inc. d/b/a Nabis Holdings announced that the company has entered into a binding Letter of Intent to invest in strategically located properties that have municipal approvals for provisioning centres in Michigan, USA, specifically the City of Detroit, Bangor City, Battle Creek, Constantine and Muskegon. The existing Municipal approvals with respect to the properties will expedite the State licensing process for dispensary locations under the new recreational cannabis regime in Michigan. These provisioning centres are strategically located near dense population centres and the company believes these provisioning centres have the potential to generate upwards of USD 11 million revenue in 2019 and USD 43 million revenue in 2020 once State approval has been received and presuming steady market prices for cannabis within the State. Nabis is currently evaluating 10 to 15 additional municipally approved locations in Michigan which will substantially increase the Company's overall presence in the US cannabis space. According to Arcview Market Research, the US cannabis market is expected to grow exponentially and be at over USD 23 billion by 2022. Michigan is one of the more recent States to have cannabis legalized for recreational purposes, which will come into effect in 2020 representing a significant opportunity for Nabis. The Company believes Michigan has substantial growth ahead and will continue to look for strategic investments in the State in both already established cannabis cultivators and dispensaries, along with properties that would benefit greatly from a State License. Michigan represents one of the large medical cannabis markets by registered medical patients in U.S., having originally passed the Michigan Marijuana Act in 2008. With Nabis' continued commitment to invest in research, innovation and unique products to market, the Company is excited to contribute in one of the biggest medical market in the U.S. Nabis is also continuing to evaluate investment opportunities across the U.S. in Limited License States across the cannabis ecosystem in high quality cash flowing assets and have a large pipeline of opportunities which it expects to deliver on in 2019. The LOI is subject to definitive documentation and the transaction expected to close in March 2019.