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 Drug Mart 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. TheZenabis 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.
SOURCE Zenabis Global Inc.