/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
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VANCOUVER, April 23, 2019 /CNW/ - Zenabis Global Inc.
(TSXV:ZENA) ("Zenabis" or
the "Company") announces that it has expanded its
recreational cannabis product offerings for the first time from
purely dried flower to include pre-roll products under a new
ultra-premium brand called Blazery as well as pre-roll and oil
products under its existing recreational brand Namaste.
"We are very excited to announce the rollout of our new
recreational products as they represent a tangible milestone in our
product expansion strategy, which will contribute to overall
revenue growth in 2019," stated Andrew
Grieve, Chief Executive Officer of Zenabis. "In particular,
the rollout of our oil products in the form of soft gel capsules
and sprays starting next month represent a significant value driver
for the company moving forward."
The Company's new pre-roll products, initially launched in
stores in mid-April, are currently being carried in its key markets
of New Brunswick and Nova Scotia. By the end of 2019, Zenabis
intends to supply all jurisdictions where it has supply
arrangements in place once additional cultivation production
capacity comes online over the course of 2019.
Following the receipt of its oil license as announced in news on
March 18, 2019, the Company has begun
offering cannabis oil products under its recreational Namaste
brand. Initially, the Company will be offering cannabis oil
products in 30 mL bottles and will offer additional products such
as soft gel capsules and sprays starting in May 2019.
Neither the 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 Canadian publicly listed licensed cultivator of
medical and recreational cannabis. The Company was formed in
January 2019 through the combination
of Bevo Agro Inc., one of the largest propagation businesses in
North America; and Sun Pharm
Investments Ltd., a large privately held licensed cannabis producer
with established medical and recreational cannabis brands and
distribution. The Company owns six state-of-the-art indoor and
greenhouse facilities across Canada, four of which are intended for
cannabis cultivation. If all four such facilities are fully
built out and converted to cannabis production, they would have a
design capacity to yield approximately 479,300 kg of dried cannabis
annually. The remaining two facilities are currently generating
revenue in the propagation and floral business and have applied for
industrial hemp cultivation licenses.
The Company benefits from a management team that has growing
expertise developed over 30 years in one of the largest plant
propagation businesses in North
America, as well as extensive sales, marketing and
distribution experience. These strengths have been key to
Zenabis' success in securing supply agreements and arrangements
with eight Canadian provinces and one territory, where the
Company's recreational products are sold both online and in store
through government-owned cannabis stores. In addition, the Company
has signed agreements with Pharmasave and Shoppers Drug Mart to
supply products to their medical customers.
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: intended future product
categories; the impact of current and future products on revenue
growth; the additional markets that the Company intends to supply
new products to and the projected additional cultivation capacity
that it is intended will generate such supply . 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.