Zenabis Shares Production License Update

Zenabis Global (TSX:ZENA) announced it obtained an industrial hemp production license from Health Canada.

As quoted in the press release:

“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. 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. 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.

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.

Click here to read the full press release.