VANCOUVER, Feb. 4, 2019 /CNW/ - Zenabis Global Inc.
("Zenabis") (TSXV: ZENA) is pleased to announce that it has entered
into a supply agreement with Shoppers Drug Mart ("Shoppers").
Shoppers may purchase dried marijuana and cannabis oil (once
Zenabis receives its licence to sell oil) from the Zenabis medical
branded product line, subject to any and all regulations. Shoppers
also has the right to purchase all future products available as
laws and regulations allow. Zenabis branded medical cannabis
products will then be sold online at cannabis.shoppersdrugmart.ca,
as regulations do not allow the sale of medical cannabis in retail
pharmacies.
"We are very excited to provide Shoppers Drug Mart with Zenabis
products," said Andrew Grieve, CEO
of Zenabis. "This partnership is very important to us and our
strategic goals as a company moving forward, as it strengthens our
commitment to serving medical patients across Canada."
About Zenabis
- On January 9, 2019, Bevo Agro
Inc. and Sun Pharm completed the
reverse takeover contemplated on October, 4, 2018, to become
Zenabis Global Inc.
- On January 21, 2019, Zenabis
entered into a credit agreement with a major Canadian chartered
bank for a $51,000,000 credit
facility.
- As of February 4, 2019, 72% of
the Zenabis common shares have been contributed to the Pooling
Agreement announced December 21,
2018, including 9 of the top 12 shareholders.
- As of February 4, 2019, Zenabis
has distribution relationships with government and third-party
retailers/distributors in New
Brunswick, Nova Scotia,
British Columbia, Saskatchewan, Manitoba, Prince
Edward Island, and the Yukon
Territory.
Zenabis is a significant licensed cannabis cultivator 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 facility space that can, upon full conversion, be
dedicated to cannabis production.
If all facility space is fully built out 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 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, if fully converted for cannabis production, would
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 market,
while Namaste is used to service the recreational
market.
The management team at Zenabis has significant experience in
finance, 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.
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 purchase of Zenabis products
pursuant to the supply agreement; and the conversion, expansion and
optimization of Zenabis' facilities. 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
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.