Zenabis

Zenabis Global Inc. is a Canadian medical and recreational marijuana producer.

Zenabis Global Inc.
TypePublic
ZENA (TSX)
IndustryCannabis
PredecessorInternational Herbs Medical Marijuana Ltd
Founded2014
FoundersMonty Sikka, Mark Catroppa
Area served
Global
ProductsZenabis (medical marijuana)
Namaste (recreational marijuana)
Blazery (recreational marijuana)
Re-Up (recreational marijuana)
Websitezenabis.com

History

Zenabis was originally known by the name of International Herbs Medical Marijuana Ltd. and was co-founded by Monty Sikka & Mark Catroppa.[1] It purchased its first facility in 2014 in New Brunswick, and received a cultivation license from Health Canada in 2017.[2] Zenabis received its sales license for dried marijuana from Health Canada in 2018,[1] and received its license to sell cannabis oil in March 2019.[3][4] In January 2019 Zenabis’s parent company Sun Pharm completed a reverse take-over of Bevo Agro Inc., leading to the two firms operating under the banner of Zenabis Global Inc.[5] The company is traded on the TSX under the ticker symbol ZENA.

Shai Altman is currently the President and CEO of Zenabis Inc.

Production and distribution

The company distributes medical marijuana in Canada and has agreements to provide recreational marijuana in British Columbia, Alberta, Saskatchewan, Quebec, Nova Scotia, New Brunswick, Manitoba, Prince Edward Island, and the Yukon.[6] Zenabis has a 380,000 square foot[7][5] cultivation and processing facility in Atholville, New Brunswick, which was one of the largest indoor cannabis cultivation facilities in Canada as of 2019.[6] It also has licensed facilities in Delta, British Columbia[5] and Stellarton, Nova Scotia.[5] Zenabis also has a 2.1 million square foot greenhouse facility in Langley, British Columbia, which it plans to convert to cannabis production upon licensing approval.[1] As of early 2019, the company had 3.5 million square feet in production capacity, with an annual potential production of 479,700 kg of dried cannabis.[1]

In addition to its own cultivation operations, Zenabis also partners with micro-cultivators to produce craft cannabis products, which will be sold under the Founders Reserve brand.[8] In 2019 Zenabis became a medical marijuana supplier for Shoppers Drug Mart.[7] The first product that will be supplied is dried cannabis, which will be followed by cannabis oil, to be sold online.[9] Zenabis has also been involved in launching a marijuana professional program at Kwantlen Polytechnic University.[10]

Products

The name used by Zenabis Global Inc. for its medical marijuana is "Zenabis".[11] In 2018 Zenabis started the Namaste line of recreational marijuana, launched at the time of the legalization of recreational marijuana in Canada.[12] In 2019 the company announced the Blazery line of pre-rolled, high-THC recreational marijuana.[7] That year, Zenabis acquired a 51% stake in Alberta kombucha manufacturer Hilllsboro Corp,[11] in order to begin producing cannabis-infused beverage products when regulations permit.[13]

In September 2019 Zenabis launched the Re-Up brand of recreational cannabis. The company has stated that Re-Up will cater to consumers who currently purchase cannabis from illegal sources, by selling cannabis products at low prices that are comparable to the illicit market.[14]

Stock

Like all medical marijuana companies in Canada Zenabis has struggled on the stock market.[15]

References
  1. Gyarmati, Sandor. "Zenabis aims to be major player in Canada's pot industry". Delta Optimist.
  2. Gabrielle Fahmy (October 19, 2018). "New Brunswick hopes cannabis can help drive rural economic recovery". CBC News.
  3. "Zenabis reçoit le feu vert pour vendre ses produits à base d'huile de cannabis". 19 March 2019.
  4. "New cannabis company Zenabis is born from yet another reverse takeover in cannabis". PotNetwork.
  5. Letson, Cherise (14 January 2019). "Cannabis Company With N.B. Footprint Has Ambitious Growth Plans". Huddle Today.
  6. Staff, Huddle (18 March 2019). "Zenabis Gets Green Light To Sell Cannabis Oil Produced At N.B. Facility". Huddle Today.
  7. Letson, Cherise (7 March 2019). "New Nova Scotia Facility Plays Role In Growth Of Zenabis' N.B. Plant". Huddle Today.
  8. Tori Weldon (March 29, 2019). "Small-batch bud growers hope to eke out share of cannabis market". CBC News.
  9. Angela Bosse (February 4, 2019). "Shoppers Drug Mart preparing to sell medical Zenabis products". CBC News.
  10. May 1, Peter Kenter Updated; 2018 (1 May 2018). "Zenabis is quietly building a Canadian cannabis empire from sea to sea - Vancouver Sun".CS1 maint: numeric names: authors list (link)
  11. "Zenabis buys 51% stake in Canadian kombucha-maker Hillsboro". 30 January 2019.
  12. Letson, Cherise (16 October 2018). "N.B. Producer Zenabis Reveals Line Of Recreational Pot Products".
  13. Gladysz, Kayla (29 January 2019). "Cannabis-infused kombucha will be produced in Canada". Daily Hive.
  14. Spears, Emma (5 December 2019). "Zenabis hopes new, $5 Re-Up brand will take bite out of illicit markets in Atlantic Canada, Saskatchewan". The Growth Op.
  15. "Why is Zenabis Global (TSX:ZENA) Stock Down 32% This Week?". www.fool.ca.
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