Zenabis Closes $30 Million Non-Dilutive Financing via Agreement with Tilray

Zenabis Global’s (TSX:ZENA) subsidiary, Zenabis Ltd., has closed its non-dilutive financing via a pre-paid supply agreement with High Park Holdings, a wholly-owned subsidiary of Tilray (NASDAQ:TLRY).

As quoted in the press release:

Pursuant to the Supply Agreement, High Park advanced $30 million to Zenabis (the “prepaid amount”) on July 10, 2019. The terms of the Supply Agreement were previously disclosed in a news release dated July 2, 2019.

“Zenabis is committed to providing high-quality cannabis to High Park,” said Andrew Grieve, Chief Executive Officer of Zenabis. “Zenabis intends to continue to pursue non-dilutive forms of financing to fund a variety of opportunities in this dynamic industry.”

Click here to read the full press release.