Licensed producer Zenabis Ltd.
enters into a supply partnership with PEI Cannabis to supply
adult-use cannabis throughout the province.
VANCOUVER, Jan. 17, 2019 /CNW/ - Zenabis Global Inc.
("Zenabis") is pleased to announce that they have partnered with
PEI Cannabis to supply adult-use cannabis throughout the province.
Zenabis will sell under their premium Namaste brand. Namaste's
products include dried flower, milled cannabis, and pre-rolls. The
Prince Edward Island Cannabis Management Corporation oversees the
operation of four cannabis retail locations and an e-commerce
platform.
Zenabis expects to start supplying PEI with adult-use cannabis
in February 2019 to help meet
recreational adult-use distribution needs which both parties expect
to increase as product demand grows and shifts into new categories
when and as permitted by applicable laws, such as edibles
(including beverages), and concentrates (including in
cartridges).
On January 11, 2019, Zenabis also
received approval for two additional flower rooms and 13 other
rooms for cannabis activities.
Zenabis Key Milestones
- On September 17, 2018, Zenabis
submitted its application package to license the Langley greenhouse, which is currently under
active review.
- On October 4, 2018 Bevo and Sun
Pharm announced the Bevo-Sun Pharm Transaction and the intent of
Bevo to change its name to Zenabis Global Inc. upon
completion.
- In October 2018, Zenabis became a
founding partner of the Centre for Medicinal Cannabis ("CMC"), a UK
based non-profit organisation advocating, educating and lobbying
for the implementation of a fair, responsible, and evidence-based
medicinal cannabis regime within the National Health System in the
United Kingdom.
- On December 22, 2018, Zenabis
submitted its cultivation license application for its Stellarton facility, which is currently under
active review.
- Since October 2018, five
additional flower rooms and 19 total rooms have been approved by
Health Canada for cannabis activities and are in operation.
- On January 9, 2019, Bevo Agro
Inc. and Sun Pharm completed the
reverse takeover contemplated on October, 4, 2018, to become
Zenabis Global Inc.
- As of January 17, 2019, Zenabis
has secured purchase orders from government and third-party
retailers/distributors in New
Brunswick, Nova Scotia,
British Columbia, Saskatchewan, and the Yukon Territory.
About Zenabis
Zenabis is a significant Licensed Producer of medical and
recreational cannabis, and employs staff coast-to-coast, across
facilities in Atholville, New
Brunswick; Delta and
Langley, B.C.; 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 provides Zenabis with 3.5 million
square feet of land and premises that can, upon full conversion, be
dedicated to production space.
Once all facilities have been fully built out, 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 space at its Langley
facility (an additional 700,000 square feet of greenhouse space
will be used to continue the existing propagation business, to be
converted at such a time that is beneficial to the strategic
position of the company), strategically positioned on Canada's coasts. These facilities have the
design capacity to yield 479,700 kg of dried cannabis annually, for
both national and international market distribution. The Zenabis
brand name is used among the medical space, while Namaste is used
to service the recreational market.
The management team at Zenabis has significant experience in
agriculture, technology, pharmaceutical sales, consumer packaged
goods, international distribution and brand marketing. Leadership
is backed by the expertise of a Chief Growing Officer, a Chief
Science Officer and Chief Medical Officer. As evidenced by letters
of intent with strategic partners, and purchase orders with
governments and distribution partners, Zenabis has been proven as a
trusted and innovative cannabis front-runner.
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. No assurance can be given that any events anticipated
by the forward-looking information will transpire or occur,
including supply commencing by February
2019, as currently expected. 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 Zenabis Management Information Circular
dated November 23, 2018, 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.