Yukon Becomes Fourth Province/Territory to
Sign Agreement with Zenabis
VANCOUVER, Oct. 12, 2018 /CNW/ - On October 4, 2018, Bevo Agro Inc. (TSXV: BVO)
announced that it has signed an Arrangement Agreement dated
October 4, 2018 with Sun Pharm
Investments Ltd. ("Sun Pharm") for a reverse take-over of Bevo, and
announced its intent to change its name to Zenabis Global Inc
(Zenabis). This combined entity will have almost 3.5 million square
feet in available production space.1
Zenabis is pleased to announce that it has come to an agreement
to supply its premium branded adult-use Cannabis products to Yukon
Liquor Corporation starting on October 17,
2018. The products - which will be sold under Zenabis'
premium adult-use brand Namaste - include dried flower, milled and
pre-rolled cannabis.
Yukon Liquor Corporation has issued starting purchase orders to
Zenabis for supply in October and November, and Zenabis is
packaging the first products for shipment to the Yukon as of today.
"We look forward to fulfilling our commitment to the Yukon
Liquor Corporation and to our other customers as we prepare for
retail sales to begin in Canada on
October 17," said Rick Brar, CEO of Zenabis. "With multiple
purchase orders received and pending, our focus continues to be on
growing high-quality product, at a low cost of production, and
getting our product to market."
Zenabis Key Milestones
- On October 4, 2018 Bevo and Sun
Pharm announced the RTO and the intent of Bevo to change their name
to Zenabis Global Inc. upon completion of the amalgamation
- On October 5, 2018, Zenabis
released a presentation introducing the combined business
- As of October 12, 2018, Zenabis
has secured purchase orders from government and third party
retailers/distributors in New
Brunswick, Nova Scotia,
British Columbia, Yukon, and Europe
About Bevo Agro
Bevo Agro is North America's leading supplier of propagated
agricultural plants, operating approximately 53 acres of
state-of-the-art greenhouse facilities on 98 acres of land in
Langley, BC and 20 acres of land
in Pitt Meadows, BC. The company
has entered into a binding agreement to acquire 10.4 acres of
greenhouse space on 50 acres of land in Aldergrove, British Columbia (the "Greenhouse
Acquisition"). The Company's main products have been the
propagation of vegetable plants such as tomatoes, peppers,
cucumbers, and other plants such as bedding plants, flowers and
grasses. The Company markets its products to established
greenhouse growers, nurseries and retail outlets throughout
North America.
About Sun Pharm
Sun Pharm is a leader in
agriculture, technology, pharmaceutical sales, consumer packaged
goods, international distribution and brand marketing, with
cannabis and cannabis-related purchase orders from the provinces of
New Brunswick, British Columbia, Nova Scotia, and Yukon Territory. Sun
Pharm is currently a privately-held cannabis company which has one
of the largest, federally licensed indoor medical cultivation
footprints in Canada, operating
two licensed production facilities in British Columbia and New Brunswick, with a third expected to be
coming online shortly in Nova
Scotia. These facilities encompass 660,000 square feet of
indoor pharmaceutical grade cannabis production space,
strategically positioned on Canada's coasts, facilitating national
distribution and access to international markets. Sun Pharm is currently working towards globally
recognized EU GMP certifications. Sun Pharm has one of the
most experienced management teams in the industry, with expertise
in retail consumer packaged goods, global pharmaceutical sales and
manufacturing, quality assurance, and commercialized cultivation.
The growing team has more than two decades of experience in organic
cultivation and distribution of herbs and nutraceutical products
throughout the Americas, North
Africa, and the Middle East. Sun Pharm's sales team has
more than two decades in product development, commercialization,
and retail and pharmaceutical sales including international
distribution.
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1
After completion of planned expansion.
SOURCE Bevo Agro Inc.