Nabis Holdings to sell Phoenix dispensary to Verano

Nabis Holdings Inc. agreed to sell its right, title and interest in the Emerald Dispensary in Phoenix to Verano Holdings Corp. unit Verano Arizona LLC.

The sale price will be paid in a combination of roughly US$11.3 million in cash, about US$11.3 million in class A subordinate voting shares of Verano Holdings, and contingent consideration of up to approximately US$6.1 million.

The Canada-based firm, which invests in real property and the cannabis sector, signed the deal through its Nabis AZ LLC subsidiary. Nabis AZ will transfer the management and oversight of Perpetual Healthcare Inc., which runs the dispensary.

The transaction is slated to close late in the first quarter, subject to Nabis' senior unsecured note holders and regulatory approvals, among other customary conditions.