Zenabis Increases Licensed Annual Cultivation Capacity

Zenabis Global (TSX:ZENA) announced Monday (July 29) the licensing of Phase 2C – Part 1 at their facility in Atholville, New Brunswick, resulting in an additional 9,800 kg of licensed annual cultivation capacity

As quoted in the press release:

Highlights:

• The amendment received July 26, 2019 adds 9,800 kg of licensed annual cultivation capacity at Zenabis Atholville;

• This amendment increases total Zenabis licensed annual cultivation capacity by more than 40%, from 23,100 kg to 32,900 kg of dried cannabis, and Zenabis Atholville licensed annual cultivation capacity from 22,300 kg to 32,100 kg of dried cannabis;

• This amendment increases licensed operating space from the existing 251,600 square feet at Zenabis Atholville to 295,200 square feet;

• Zenabis expects to submit a license amendment for the final unlicensed portion of Zenabis Atholville, Phase 2C – Part 2 (15,900 square feet of operating space) shortly, which, once approved, will increase the licensed annual cultivation capacity of Zenabis Atholville to 34,300 kg of dried cannabis (the total design capacity of the facility); and

• Zenabis has achieved substantial completion at Zenabis Atholville.¹

Andrew Grieve, Chief Executive Officer of Zenabis, stated, “We would like to express our gratitude to the communities of northern New Brunswick that supported us from 2015 through to substantial completion, including the Listuguj First Nation, an initial equity investor in our business. We would also like to express our gratitude to the Province of New Brunswick for investing in our business, and to the people of New Brunswick for making us the number one selling recreational cannabis company in this province.”

Click here to read the full press release.