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Nabis Holdings to acquire Desert Hot Springs, Calif., dispensary

Nabis Holdings Inc. is purchasing the 6,000-square-foot Desert's Finest dispensary in Desert Hot Springs, Calif., for $5.6 million, comprising $1.9 million in cash and a $3.8 million convertible note.

The Canadian cannabis investor will add its BIS brand products to the dispensary's offerings in early 2020. The dispensary may expand its cannabis license in California to add production and cultivation activities on the property.

Kronos Capital Partners was financial adviser to Desert's Finest on the proposed deal.