Yukon Becomes Fourth Province/Territory to Sign Agreement with Zenabis
VANCOUVER, Oct. 12, 2018 /CNW/ - On October 4, 2018, Bevo Agro Inc. (TSXV: BVO) announced that it has signed an Arrangement Agreement dated October 4, 2018 with Sun Pharm Investments Ltd. ("Sun Pharm") for a reverse take-over of Bevo, and announced its intent to change its name to Zenabis Global Inc (Zenabis). This combined entity will have almost 3.5 million square feet in available production space.1
Zenabis is pleased to announce that it has come to an agreement to supply its premium branded adult-use Cannabis products to Yukon Liquor Corporation starting on October 17, 2018. The products - which will be sold under Zenabis' premium adult-use brand Namaste - include dried flower, milled and pre-rolled cannabis.
Yukon Liquor Corporation has issued starting purchase orders to Zenabis for supply in October and November, and Zenabis is packaging the first products for shipment to the Yukon as of today.
"We look forward to fulfilling our commitment to the Yukon Liquor Corporation and to our other customers as we prepare for retail sales to begin in Canada on October 17," said Rick Brar, CEO of Zenabis. "With multiple purchase orders received and pending, our focus continues to be on growing high-quality product, at a low cost of production, and getting our product to market."
Zenabis Key Milestones
- On October 4, 2018 Bevo and Sun Pharm announced the RTO and the intent of Bevo to change their name to Zenabis Global Inc. upon completion of the amalgamation
- On October 5, 2018, Zenabis released a presentation introducing the combined business
- As of October 12, 2018, Zenabis has secured purchase orders from government and third party retailers/distributors in New Brunswick, Nova Scotia, British Columbia, Yukon, and Europe
About Bevo Agro
Bevo Agro is North America's leading supplier of propagated agricultural plants, operating approximately 53 acres of state-of-the-art greenhouse facilities on 98 acres of land in Langley, BC and 20 acres of land in Pitt Meadows, BC. The company has entered into a binding agreement to acquire 10.4 acres of greenhouse space on 50 acres of land in Aldergrove, British Columbia (the "Greenhouse Acquisition"). The Company's main products have been the propagation of vegetable plants such as tomatoes, peppers, cucumbers, and other plants such as bedding plants, flowers and grasses. The Company markets its products to established greenhouse growers, nurseries and retail outlets throughout North America.
About Sun Pharm
Sun Pharm is a leader in agriculture, technology, pharmaceutical sales, consumer packaged goods, international distribution and brand marketing, with cannabis and cannabis-related purchase orders from the provinces of New Brunswick, British Columbia, Nova Scotia, and Yukon Territory. Sun Pharm is currently a privately-held cannabis company which has one of the largest, federally licensed indoor medical cultivation footprints in Canada, operating two licensed production facilities in British Columbia and New Brunswick, with a third expected to be coming online shortly in Nova Scotia. These facilities encompass 660,000 square feet of indoor pharmaceutical grade cannabis production space, strategically positioned on Canada's coasts, facilitating national distribution and access to international markets. Sun Pharm is currently working towards globally recognized EU GMP certifications. Sun Pharm has one of the most experienced management teams in the industry, with expertise in retail consumer packaged goods, global pharmaceutical sales and manufacturing, quality assurance, and commercialized cultivation. The growing team has more than two decades of experience in organic cultivation and distribution of herbs and nutraceutical products throughout the Americas, North Africa, and the Middle East. Sun Pharm's sales team has more than two decades in product development, commercialization, and retail and pharmaceutical sales including international distribution.
1 After completion of planned expansion.
SOURCE Bevo Agro Inc.
For further information: visit: https://www.zenabis.com.