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Nabis Holdings Inc. Provides MCTO Update

VANCOUVER, British Columbia, June 29, 2020 (GLOBE NEWSWIRE) -- Nabis Holdings Inc. (CSE: NAB) (OTC: NABIF) (FRA: A2PL) (“Nabis” or the “Company”) provides an update with respect to the management cease trade order (the "MCTO") issued by the British Columbia Securities Commission on June 17, 2020. The MCTO was issued in connection with the filing of its annual financial statements, management's discussion and analysis and related officer certifications for the financial year ended December 31, 2019 (collectively the “Annual Financial Filings”).

The Company is working on the steps required to complete the Annual Financial Filings and expects to be able to file the Annual Financial Filings by July 15, 2020.

The Company is also working on the steps required to complete the interim financial statements for the three-month period ended March 31, 2020 (the “Interim Financial Filings”) and expects to be able to file the Interim Financial Filings by the extended filing deadline of July 16, 2020.

The Company is providing this status update in accordance with National Policy 12-203 Management Cease Trade Orders ("NP 12-203"). The Company intends to follow the provisions of the Alternative Information Guidelines set out in NP 12-203, including the issuance of bi-weekly default status reports in the form of news releases.

The Company confirms as of the date of this news release that there has been no material change in the information contained in the default announcement issued on June 15, 2020 and there is no other material information concerning the affairs of the Company that has not been generally disclosed.

The Canadian Securities Exchange has neither reviewed nor approved the contents of this news release and accepts no responsibility for the adequacy or accuracy of this release.

For inquiries, please contact:

Shay Shnet, CEO and Director
PH: 416-223-2248
info@nabisholdings.com

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