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.
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.
For further information: Media Relations: [email protected], 1-844-523-8679; Investor Relations: Shobana Thaya, Zenabis Global Inc., [email protected], 1-844-523-8679; Andrew Grieve, Chief Executive Officer, 1-855-936-2247