Zenabis Announces Receipt of Industrial Hemp Production License and Other Licensing Updates

VANCOUVER, June 3, 2019 /CNW/ – Zenabis Global Inc. (TSX:ZENA) (“Zenabis” or the “Company“) today announced that Health Canada has granted an industrial hemp production license.

Industrial Hemp Production License

“This is the second cultivation license we have received from Health Canada this year, and is another important step toward realizing our vision of becoming a significant cannabis and cannabinoid producer in Canada,” said Andrew Grieve, Chief Executive Officer of Zenabis. “This license enables the commencement of hemp cultivation and hemp-derived CBD production, and also the testing of our vertical farming system at Zenabis Langley for the cultivation of hemp. This vertical farming system is intended to be used for the production of cannabis upon receipt of the Zenabis Langley cannabis cultivation license. The hemp-derived CBD market is expected to grow exponentially over the next three years.¹ Through this addition, among other strategic hemp-focused initiatives, we are positioning Zenabis to participate in the hemp-derived CBD industry in both Canada and the United States.”

Zenabis will be able to cultivate hemp using the remaining land and in greenhouses off-cycle from other crops for its Zenabis Langley, Zenabis Pitt Meadows, and Zenabis Aldergrove facilities.² Hemp cultivation at the Zenabis Langley site will not interfere with the planned cannabis cultivation activities at Zenabis Langley, nor will it reduce the cannabis cultivation design capacity of Zenabis Langley.

Cultivation of industrial hemp has been permitted in Canada since 1998 and is currently regulated by Health Canada under the Cannabis Act. Health Canada licenses the cultivation of hemp jointly under the Industrial Hemp Regulations and the Cannabis Act.

Under the Industrial Hemp Regulations, there are no restrictions to the location where industrial hemp may be cultivated. As a license holder for industrial hemp cultivation, Zenabis is authorized to cultivate at any site that it owns, and potentially at other facilities with the express permission from the owner of said facility.

The Government of Canada has been regulating adult-use recreational cannabis since its legalization on October 17, 2018. The Canadian Food Inspection Agency (CFIA) administers a number of acts and regulations that relate broadly to the import, production and use of plants. These requirements also apply to cannabis, industrial hemp, cannabis products and by-products, such as regulations for livestock feed and the disposal of unused plant parts.

In December 2018, the U.S. Farm Bill legalized hemp-derived CBD.³ In 2018, the U.S. hemp-derived CBD market was $390 million, and is expected to reach $1.3 billion by 2022.⁴

Licensing Update – Zenabis Atholville

On June 4, 2019, Zenabis is submitting the license amendment to Health Canada to commence cannabis production in its Phase 2C expansion project, which will expand the facility’s annual design capacity by 12,000 kg. Upon license amendment approval from Health Canada, Zenabis Atholville will be fully licensed, reaching its full annualized design capacity of 34,300 kg.

Zen Craft Grow

Zenabis has signed two exclusive, definitive cannabis supply agreements under its Zen Craft Grow program, bringing the total number of exclusive, definitive supply agreements to three. Through the Zen Craft Grow program, Zenabis supports cannabis micro-cultivators across Canada in the final stages of the Health Canada licensing process. Through these partnerships, Zenabis will bring unique genetics and small-batch, artisanally grown cannabis to discerning adult-use consumers across Canada.

About Zenabis

Zenabis is a significant Canadian licensed cannabis 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. In addition to gaining technologically advanced knowledge of plant propagation, the recent addition of state-of-the-art greenhouses in Langley, Pitt Meadows and Aldergrove 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 at Zenabis Atholville, Zenabis Stellarton, Zenabis Delta and Zenabis Langley is fully converted 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 cannabis production space at its Langley facility, with this production strategically positioned on Canada’s coasts. Zenabis expects these facilities to have an annual design capacity of 131,300 kg of dried cannabis by the third quarter of 2019. These facilities, if fully built out and converted for cannabis production, would have an annual design capacity to yield approximately 479,300 kg of dried cannabis annually, for both national and international market distribution. An additional 700,000 square feet of greenhouse space will be used to continue the existing propagation business and produce industrial hemp, and can be converted to cannabis production at such a time that is beneficial to the strategic position of the Company. The Zenabis brand name is used in the cannabis medical market, while the Namaste and Blazery 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: current plans for the cultivation of hemp and related hemp-derived CBD activities under existing and pending licenses; industry projections of the hemp-derived CBD market; the projected kilogram yield of recently licensed facility space and facility space under, or scheduled for, construction, the expected timing and completion of current and planned conversion, expansion and optimization of our facilities, the licensing of our facilities and projected timing thereof; the adequacy of our financial resources to achieve the conversion and expansion of our facilities, the submission of the Phase 2C license; the timelines projected for our internal post-processing capacities; and the expected timing and content of future operational updates. 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.

Disclaimer

The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: https://cannabisfn.com/legal-disclaimer/

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

Search CannabisFN

Press Coverage

Psychedelics Index

Top Videos

Michael Berger of Technical 420

Technical420 is the premier provider of research and analysis on cannabis stocks.  We provide investors with sponsored and non-sponsored information on the volatile and emerging cannabis industry.  “Our research is our passion!”  Your profit is our reward!

Neill Dixon of O’Cannabiz Conference & Expo

The producers of O’ Cannabiz have decades of experience producing national-profile events and creating global connections between business communities in the arts, broadcasting, media and technology. They have organized trade summit initiatives with governments around the world. And they have worked closely with sponsors in all levels of Canadian government.

Harvest One Cannabis Inc.

Harvest One is a global cannabis company that develops and provides innovative lifestyle and wellness products to consumers and patients in regulated markets around the world.

HempFusion Wellness Inc.

HempFusion is a leading health and wellness CBD company utilizing the power of whole-food hemp nutrition.

Network Partners

Follow Us on Social Media

About CFN Media Group

CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.

Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.

Copyright © Accelerize Inc. · All Rights Reserved · Privacy Policy · Legal Disclaimer