BlackShire Capital salutes another key Zenabis milestone
March 4, 2019
Zenabis Receives License for Stellarton, N.S. site – it’s third Cannabis Growing Facility
Monday, March 4, 2019 – Toronto. BlackShire Capital Corp. is pleased to congratulate the management team and employees of Zenabis Global Inc. (“Zenabis”) (TSXV:ZENA) on the announcement that they have received Health Canada’s approval to cultivate and grow cannabis at its 255,000 square foot facility in Stellarton, Nova Scotia. With its third license, Zenabis now boasts a large-scale production footprint projected to reach an annual production capacity of 480,000 kg, one of the top 3 largest expected capacities amongst licensed producers.
“The most impressive thing about this cannabis industry is the resolve of entrepreneurs to stay their course. This approval has been years in the making. BlackShire Capital (Formerly Vida) was the company that initiated this facility and a transaction was concluded with Zenabis in late 2016. Zenabis has successfully positioned itself to become a dominant player in the Canadian and global market places” said BlackShire Capital Chairman and CEO, Kevin Reed.
Zenabis also announced that it is cGMP (Current Good Manufacturing Practices) certified (21 CFR Part 210 & 211), as recognized by SGS Systems and Services Certification. SGS is the world’s leading inspection, verification, testing and certification company. This establishes that Zenabis is operating to US FDA (Food & Drug Administration) standards.
“It’s also very heartening as a Canadian entrepreneur to witness the progress this new company, born from two strong founding families, is making on the Canadian and international scene. We salute CEO Andrew Grieve and the team and wish them every success going forward” added Mr. Reed.
Zenabis is a significant licensed cannabis cultivator of medical and recreational cannabis, and employs staff coast-to-coast, across facilities in Atholville, New Brunswick; Delta and Langley, B.C.; and Stellarton, Nova Scotia. In addition to gaining technologically advanced knowledge of plant propagation, the recent addition of state-of-the-art greenhouses in Langley provides Zenabis with 3.5 million square feet of facility space that can, upon full conversion, be dedicated to cannabis production.
If all facility space is fully built out and dedicated to production, Zenabis will own, and have access to, 660,000 square feet of high quality indoor cannabis production space, as well as 2.1 million square feet of greenhouse space at its Langley facility (an additional 700,000 square feet of greenhouse space will be used to continue the existing propagation business, to be converted at such a time that is beneficial to the strategic position of the company), strategically positioned on Canada’s coasts. These facilities, if fully converted for cannabis production, would have the design capacity to yield 479,300 kg of dried cannabis annually, for both national and international market distribution. The Zenabis brand name is used among the medical market, while Namaste is used to service the recreational market.
The management team at Zenabis has significant experience in finance, agriculture, technology, pharmaceutical sales, consumer packaged goods, international distribution and brand marketing.
Zenabis has established distribution relationships with government and third-party retailers/distributors in 9 Provinces; British Columbia, Alberta, Saskatchewan, Manitoba, Quebec, New Brunswick, Nova Scotia, Prince Edward Island, and the Yukon Territory. In addition, on February 4, 2019, Zenabis announced an agreement with Shoppers Drug Mart, adding a major new retail channel to serve medical patients across Canada.
About BlackShire Capital Corp.
BlackShire Capital is a principal investor and asset manager, focused on investing growth capital in the securities of private cannabis companies on a global basis. Our business objective is to achieve superior risk-adjusted returns by aligning the firm’s investment capital, investment processes and management capabilities with emerging cannabis companies, that can be identified with the potential to become leaders in their categories. Our Executive in Residence Program is what separates us from the rest.
For further information: Jean Lépine firstname.lastname@example.org 416 583 2501