VANCOUVER, July 9, 2019 /CNW/ - Zenabis Global Inc.
(TSX:ZENA) ("Zenabis" or the "Company")
today announced that it has submitted its site evidence package
(the "Site Evidence Package") to Health Canada for the first phase
of Site A at Zenabis Langley.
Construction of Zenabis Langley's first 50,000 square foot
flower room is substantially complete, as is 49,000 square feet of
support space, which includes drying and trimming rooms, processing
rooms, a packaging room, offices, change rooms, and storage space.
Construction of the remaining five flower rooms and additional
support space (including vegetation room, cloning and mothering
space), totaling 380,000 square feet, is on track for substantial
completion in August 2019.
The Site Evidence Package submission is expected to be the final
step required on the part of Zenabis to obtain a license to
cultivate cannabis at Zenabis Langley. Zenabis expects that the
facility will have a licensed annual cultivation capacity of 9,900
kg of dried cannabis once the cultivation license is granted (the
first flower room is expected to have ~50% canopy coverage due to
inclusion of table infrastructure that is not included in the other
five flower rooms), at which time Zenabis plans to submit a license
amendment for the facility's remaining five flower rooms
representing 86,200 kg of cultivation capacity.
"Zenabis Langley's design capacity represents more than 70% of
the total annual capacity of 131,200 kg of dried cannabis that we
plan to reach in the third quarter," said Andrew Grieve, Chief Executive Officer of
Zenabis. "As the expected final step in Health Canada's cultivation
licensing process, submission of the site evidence package is an
important milestone. Upon completion of licensing in Zenabis
Langley, together with our licensing achievements in Stellarton and Atholville this year, Zenabis expects to be a
significant producer of cannabis in Canada. With existing distribution into eight
provinces, one territory, a number of medical channels, and
meaningful wholesale agreements and opportunities, Zenabis
anticipates increased deliveries to such counterparties as harvests
commence on its remaining capacity."
About Zenabis
Zenabis is a significant Canadian licensed cannabis cultivator
of medical and recreational cannabis, and a propagator and
cultivator of floral and vegetable products. Zenabis employs staff
coast-to-coast, across facilities in Atholville, New Brunswick; Delta, Aldergrove, Pitt
Meadows and Langley, British
Columbia; and Stellarton, Nova
Scotia. In addition to gaining technologically advanced
knowledge of plant propagation, the recent addition of
state-of-the-art greenhouses in Langley, Pitt
Meadows and Aldergrove
provides Zenabis with 3.5 million square feet of facility space
that can, if fully converted, be dedicated to cannabis
production.
If all facility space at Zenabis Atholville, Zenabis Stellarton,
Zenabis Delta and Zenabis Langley is fully converted and dedicated
to production, Zenabis will own, and have access to 660,000 square
feet of high quality indoor cannabis production space, as well as
2.1 million square feet of greenhouse cannabis production space at
its Langley facility, with this
production strategically positioned on Canada's coasts. Zenabis expects these
facilities to have an annual design capacity of 131,200 kg of dried
cannabis by the third quarter of 2019. These facilities, if fully
built out and converted for cannabis production, would have an
annual design capacity to yield approximately 478,800 kg of
dried cannabis annually, for both national and international market
distribution. An additional 700,000 square feet of greenhouse space
will be used to continue the existing propagation business and
produce industrial hemp, and can be converted to cannabis
production at such a time that is beneficial to the strategic
position of the Company. The Zenabis brand name is used in the
cannabis medical market, while the Namaste and Blazery brand names
are used in the cannabis adult-use recreational market, and the
True Büch brand name is used for Zenabis' kombucha products.
Forward Looking Information
This news release contains statements that may constitute
"forward-looking information" within the meaning of applicable
Canadian securities legislation. Forward-looking information may
include, among others, statements regarding the future plans,
costs, objectives or performance of Zenabis, or the assumptions
underlying any of the foregoing. In this news release, words such
as "may", "would", "could", "will", "likely", "believe", "expect",
"anticipate", "intend", "plan", "estimate" and similar words and
the negative form thereof are used to identify forward-looking
statements. In this news release, forward-looking statements
relate, among other things, to: the anticipated granting of a
cultivation license for Zenabis Langley by Health Canada, our plans
to submit further license application materials for additional
cultivation capacity, the projected kilogram yield of licensed
facility space and facility space in the process of, or scheduled
for, construction and/or licensing, the expected timing and
completion of current and planned conversion, expansion and
optimization of our facilities, the licensing of our facilities and
projected timing thereof and the expectation of increased
deliveries to commercial counterparties upon commencement of
harvests on expected additional capacity. Forward-looking
statements should not be read as guarantees of future performance
or results, and will not necessarily be accurate indications of
whether, or the times at or by which, such future performance will
be achieved. No assurance can be given that any events anticipated
by the forward-looking information will transpire or occur.
Forward-looking information is based on information available at
the time and/or management's good-faith belief with respect to
future events and are subject to known or unknown risks,
uncertainties, assumptions and other unpredictable factors, many of
which are beyond Zenabis' control. These risks, uncertainties and
assumptions include, but are not limited to, those described in the
shelf prospectus dated April 9, 2019,
a copy of which is available on SEDAR at www.sedar.com and could
cause actual events or results to differ materially from those
projected in any forward-looking statements. Furthermore, any
forward-looking information with respect to available space for
cannabis production is subject to the qualification that management
of Zenabis may decide not to use all available space for cannabis
production, and the assumptions that any construction or conversion
would not be cost prohibitive, required permits will be obtained
and the labour, materials and equipment necessary to complete such
construction or conversion will be available. Accordingly, readers
should not place undue reliance on the forward-looking statements
and information contained in this news release. Zenabis does not
intend, nor undertake any obligation, to update or revise any
forward-looking information contained in this news release to
reflect subsequent information, events or circumstances or
otherwise, except if required by applicable laws.
For more information, visit: https://www.zenabis.com.
SOURCE Zenabis Global Inc.