Licensed producer Zenabis Ltd. - which is
merging with Bevo Agro to become
Zenabis Global - signs LOI with Hillsboro Corp Inc., a Canadian
cultured tea beverage company known for its True Buch
Kombucha.
VANCOUVER, Oct. 16, 2018 /CNW/ - On October 4, 2018, Bevo Agro Inc. (TSXV: BVO)
("Bevo") announced that it had 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"). Through Sun Pharm's
subsidiary licensed producer Zenabis Ltd. ("Zenabis"), Zenabis
Global Inc. will have nearly 3.5 million square feet of available
production space.1
Sun Pharm is pleased to announce
that Zenabis has signed an LOI with Hillsboro Corp Inc. ("True
Buch") to develop cannabis infused kombucha. Particularly, under
the LOI Zenabis intends to work with True Buch to develop and
distribute cannabis infused cultured tea beverage products. A
definitive agreement is expected to be entered into shortly.
True Buch is a kombucha company with expertise in the creation
of cultured tea beverages. True Buch cultured tea beverages are
raw, unpasteurized, gluten free and non-GMO, with over 11 distinct
flavours. Zenabis and TrueBuch intend to utilize each other's
expertise to infuse cannabis into True Buch beverages, creating a
cultured tea beverage CBD product.
"Zenabis is emerging as one of the largest cannabis producers in
the world according to available growing capacity. We are
partnering with best-in-class manufacturers in a variety of
sectors, and True Buch Kombucha is no exception," said Rick Brar, CEO of Zenabis. "By bringing together
True Buch's expertise in cultured tea beverages with Zenabis'
expertise in consumer product development and the science of
cannabis, we can offer a high-quality product that taps into
growing consumer demand in the beverage category."
"We firmly believe cannabis infused functional beverages, such
as kombucha, are the next progressive step forward in this high
growth industry," said Conrad
Ferrel, CEO of True Buch. "Partnering with Zenabis gives
True Buch Kombucha access to the expertise we need to supply the
market with high-quality cannabis infused beverages. It's an
exciting time and we couldn't be more pleased with the opportunity
to partner with Zenabis and their amazing team."
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 15, 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 has
significant experience 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 a management team with decades of experience 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.
About True Buch
Founded almost a decade ago with the
goal of creating beverages to improve gut health, True Buch
Kombucha brews raw, unpasteurized, gluten free and non-GMO
Kombucha. Based in Alberta, the
company distributes small-batch Kombucha and is passionate about
sustainability, collaborating with local businesses, supporting
employees, and adhering to zero waste principles.
For more information,
Follow Zenabis on Facebook
@zenabismmj or on Twitter and Instagram @Zenabis
Follow Namaste on Twitter, Facebook and Instagram @Namaste.com
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1 After completion of planned expansions
SOURCE Bevo Agro Inc.