VANCOUVER, Dec. 16, 2019 /CNW/ - Zenabis Global
Inc. (TSX:ZENA) ("Zenabis" or
the "Company") is pleased to announce the receipt of
the license amendment for Zenabis Langley Part 2A, representing an
additional 39,400 kg of licensed annual cultivation capacity.
Highlights:
- The amendment received on December 13,
2019 adds 39,400 kg of licensed annual cultivation capacity
at Zenabis Langley;
- This amendment increases Zenabis' total licensed annual
cultivation capacity by 69% from 57,000 kg to 96,400 kg of dried
cannabis, and Zenabis Langley licensed annual cultivation capacity
from 9,900 kg to 49,300 kg, an increase of approximately 400%;
- This amendment increases licensed operating space from the
existing 99,000 square feet at Zenabis Langley to 200,300 square
feet; and
- Zenabis has reached substantial completion on Zenabis Langley
Part 2B (14,800 kg of annual
cultivation capacity) and intends to submit a license amendment for
this phase before the end of 2019.
"We are extremely pleased to receive this license amendment for
Zenabis Langley," said Kevin Coft,
Chief Executive Officer of Zenabis. "Year to date we have increased
our licensed annual cultivation capacity by more than 1,500%, from
approximately 6,000 kg in January
2019 to 96,400 kg today. With our first harvest complete at
Zenabis Langley, we are excited to have more space licensed at this
facility that can be utilized to cultivate additional high-quality
cannabis for our customers."
About Zenabis
Zenabis is a significant Canadian licensed 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. Zenabis currently has 57,000 kg of licensed cannabis
cultivation space across four licensed facilities. Zenabis has 3.5
million square feet of total facility space dedicated to a mix of
cannabis production and cultivation and its propagation and floral
business.
Zenabis expects its Zenabis Atholville, Zenabis Stellarton and
Zenabis Langley facilities to have a licensed annual production
capacity of 143,200 kg of dried cannabis by the second quarter of
2020. The Zenabis brand name is used in the cannabis medical
market, the Namaste, Blazery, and Re-Up 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 projected kilogram yield of
licensed facility space and facility space in the process of, or
scheduled for, construction and/or licensing; the expected
submissions of license amendment applications; and the licensing of
our facilities and projected timing thereof. 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: www.zenabis.com
SOURCE Zenabis Global Inc.