Zenabis Announces Receipt of Final License Amendment for Zenabis Atholville

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VANCOUVER , Sept. 23, 2019 /CNW/ – Zenabis International Inc. (ZENA.TO) (“Zenabis” or the “Organization“) is pleased to announce the licensing of Phase 2C – Portion two at Zenabis Atholville for an more three,000 kg of licensed annual cultivation capacity.

Highlights:

  • The amendment received September 20, 2019 adds three,000 kg of licensed annual cultivation capacity at Zenabis Atholville
  • This amendment increases Zenabis’ total licensed annual cultivation capacity from 54,000 kg to 57,000 kg of dried cannabis, and Zenabis Atholville licensed annual cultivation capacity from 43,300 kg to 46,300 kg of dried cannabis and
  • This amendment increases licensed operating space from the current 295,200 square feet at Zenabis Atholville to 380,000 square feet.

Andrew Grieve , Chief Executive Officer of Zenabis, stated, “The receipt of the Phase 2C – Portion two license amendment is the final important license amendment for Zenabis Atholville. In nine months, we have enhanced the licensed annual cultivation capacity of Zenabis Atholville from much less than six,000 kg to 46,300 kg of dried cannabis. This outcome would not have been attainable devoid of the tireless operate of our licensing and building teams, who delivered this project substantially on time and beneath price range. Our Zenabis Atholville licensing and building teams are at present focused on finishing the Zenabis Langley Internet site A – Phase two conversion.”

About Zenabis

Zenabis is a important Canadian licensed cannabis cultivator of healthcare and recreational cannabis, and a propagator and cultivator of floral and vegetable goods. Zenabis employs employees 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 sophisticated information of plant propagation, the current addition of state-of-the-art greenhouses in Langley , Pitt Meadows and Aldergrove delivers Zenabis with three.five million square feet of facility space that can, if totally converted, be devoted to cannabis production.

If all facility space at Zenabis Atholville, Zenabis Stellarton and Zenabis Langley is totally converted and devoted to production, Zenabis will personal, and have access to 635,000 square feet of higher high-quality indoor cannabis production space, as nicely as two.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 style capacity of 143,200 kg of dried cannabis beneath its current capital strategy. These facilities, if totally constructed out and converted for cannabis production, would have an annual style capacity to yield about 490,800 kg of dried cannabis annually, for each national and international marketplace distribution. An more 700,000 square feet of greenhouse space will be utilised to continue the current propagation small business and create industrial hemp, and can be converted to cannabis production at such a time that is effective to the strategic position of the Organization. The Zenabis brand name is utilised in the cannabis healthcare marketplace, although the Namaste and Blazery brand names are utilised in the cannabis adult-use recreational marketplace, and the Accurate Büch brand name is utilised for Zenabis’ kombucha goods.

Forward Hunting Information and facts

This news release includes statements that may perhaps constitute “forward-searching details” inside the which means of applicable Canadian securities legislation. Forward-searching details may perhaps consist of, amongst other folks, statements relating to the future plans, charges, objectives or overall performance of Zenabis, or the assumptions underlying any of the foregoing. In this news release, words such as “may perhaps”, “would”, “could”, “will”, “most likely”, “think”, “anticipate”, “anticipate”, “intend”, “strategy”, “estimate” and related words and the damaging kind thereof are utilised to determine forward-searching statements. In this news release, forward-searching statements relate, amongst other points, to the projected kilogram yield of licensed facility space and facility space in the approach of, or scheduled for, building and/or licensing. Forward-searching statements ought to not be study as guarantees of future overall performance or final results, and will not necessarily be precise indications of whether or not, or the instances at or by which, such future overall performance will be accomplished. No assurance can be offered that any events anticipated by the forward-searching details will transpire or happen. Forward-searching details is primarily based on details offered at the time and/or management’s great-faith belief with respect to future events and are topic to recognized or unknown dangers, uncertainties, assumptions and other unpredictable variables, a lot of of which are beyond Zenabis’ manage. These dangers, uncertainties and assumptions consist of, but are not restricted to, these described in the shelf prospectus dated April 9, 2019 , a copy of which is offered on SEDAR at www.sedar.com and could bring about actual events or final results to differ materially from these projected in any forward-searching statements. Additionally, any forward-searching details with respect to offered space for cannabis production is topic to the qualification that management of Zenabis may perhaps determine not to use all offered space for cannabis production, and the assumptions that any building or conversion would not be price prohibitive, expected permits will be obtained and the labour, components and gear needed to total such building or conversion will be offered. Accordingly, readers ought to not spot undue reliance on the forward-searching statements and details contained in this news release. Zenabis does not intend, nor undertake any obligation, to update or revise any forward-searching details contained in this news release to reflect subsequent details, events or situations or otherwise, except if expected by applicable laws.

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