VANCOUVER, March 19, 2019 /CNW/ - Zenabis Global Inc.
("Zenabis") (TSXV: ZENA) has signed its first exclusive, definitive
supply agreement under its Zen Craft Grow program. This first Zen
Craft Grow agreement is an exclusive supply agreement between
Zenabis, as a standard processor, and a micro-cultivator in the
final stages of receiving its license that will bring unique
genetics and small-batch, artisanally grown cannabis to discerning
adult-use consumers across Canada.
The Zen Craft Grow program reflects Zenabis' ongoing commitment
to offer consumers a range of unique and high-quality products.
Through the Zen Craft Grow program, Zenabis provides its
regulatory, compliance and quality control expertise to facilitate
the licensing of small-scale craft growers, leverages its existing
supply agreements with provincial liquor authorities, wholesalers
and licensed retailers in nine Canadian jurisdictions, and provides
consumers across the country with access to high-quality, compliant
and quality assured cannabis products from passionate and
committed micro-cultivators.
Zenabis will market these craft products under the Founders'
Reserve brand (www.foundersreserve.ca). This brand name reflects
Zenabis' desire to pay homage to the growers and advocates who
played such a significant part in the establishment of the legal
cannabis industry.
"As a licensed producer with a national distribution network for
the adult use market, we are thrilled to bring the distinct and
specialized products of licensed micro-cultivators to customers
across Canada," said Andrew Grieve, Chief Executive Officer of
Zenabis. "Founders' Reserve, and our Zen Craft Grow program,
represent something new in the Canadian marketplace. This brand
will provide safe, consistent and quality-assured products from
commercially licensed growers, and the strains sold under this
brand will reflect the dedication and passion that come from years
of cultivation experience. Founders' Reserve will provide highly
coveted cannabis strains, developed with care by cultivators who
have a deep commitment to their plants and their products. We are
pleased to offer these thoughtfully produced artisanal products
across Canada via our existing
supply and distribution partners. Zen Craft Grow adds a new
dimension to our product offerings, expands our brands through the
addition of Founders' Reserve, and demonstrates our commitment to a
wide range of stakeholders, including micro-cultivators and
consumers. We are excited about this program, and we intend to
execute definitive, exclusive supply agreements with more than 20
licensed micro-cultivators and applicants with whom we have
developed relationships."
Sean Alston, Director of Zen
Craft Grow for Zenabis, added, "With roughly 20 years experience in
related markets, it is a pleasure to be involved with this program
that sees the "founders" of our industry partner with Zenabis to
create long-lasting relationships, enabling them to continue their
craft in a legal and compliant manner. The feedback I have had from
the growers involved in the program is that Zenabis' support and
dedication throughout the licensing process has been unbelievable
and allows them to concentrate on what they do best, which is grow
high-quality product."
Zenabis' Zen Craft Grow program will continue to pursue
relationships with additional micro-cultivators across the country,
with the ambition of bringing more diverse genetics and products to
the wider Canadian adult-use market.
Founders' Reserve adds another brand to Zenabis' product
offerings, joining the premium Namaste line, and the company's core
Zenabis medical products. Zenabis intends to further expand its
brand offerings as facility expansion and licensing continues.
Zenabis has updated its information presentation to take into
account this and other information. The updated presentation can be
found here:
https://www.zenabis.com/docs/zenabis-presentation.pdf
Note: Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
|
About Zenabis
Zenabis is a significant licensed cannabis cultivator of medical
and adult use 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 adult use market.
The management team at Zenabis has significant experience in
finance, agriculture, technology, pharmaceutical sales, consumer
packaged goods, international distribution and brand marketing.
Zenabis has established distribution relationships with
provincial liquor authorities, wholesalers and licensed retailers
in nine provinces and territories (British Columbia, Alberta, Saskatchewan, Manitoba, Quebec, New
Brunswick, Nova Scotia,
Prince Edward Island and the
Yukon).
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 future supply to be
provided by micro-cultivators, the intention to distribute such
supply under the Founders' Reserve brand, the pursuit of
relationships with additional micro-cultivators, 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. 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 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.