VANCOUVER, May 21, 2019 /CNW/ - Zenabis Global Inc.
(TSXV:ZENA) ("Zenabis" or the "Company")
today announced the appointment of Natascha
Kiernan, an experienced international finance and M&A
attorney who has held senior positions at several prominent
international law firms, as the newest member of its Board of
Directors, effective May 20,
2019.
Ms. Kiernan's experience includes working as Counsel in the
London office of Skadden, Arps,
Slate, Meagher & Flom LLP and she has represented Fortune 500
companies, financial institutions and international governments in
complex corporate finance and M&A transactions totalling more
than $100 billion in value and
spanning six continents. In 2014, she was ranked as one of the "Top
40 Under 40 Rising Legal Stars in Europe" by the Financial
News.
"We are thrilled to welcome Natascha to our board. She brings a
strong legal and business background and wealth of governance
experience to our board," said Andrew
Grieve, Chief Executive Officer of Zenabis. "Her knowledge,
perspective and diverse skill set will complement our existing
board members and be an incredible asset for our company as we
advance our strategic plan."
Ms. Kiernan holds a J.D. from Columbia
University School of Law and is qualified to practice law in
New York and England & Wales. She serves as an independent director
on the boards of several educational and non-profit
organizations.
About Zenabis
Zenabis is a significant Canadian licensed cannabis cultivator
of medical and recreational cannabis, and a propagator and
cultivator of floral and vegetable products. Zenabis employs staff
coast-to-coast, across facilities in Atholville, New Brunswick; Delta, Aldergrove, Pitt
Meadows, and Langley, British
Columbia; 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, Pitt
Meadows, and Aldergrove
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 at Zenabis Atholville, Zenabis Stellarton,
Zenabis Delta, and Zenabis Langley is fully converted 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 cannabis production space at
its Langley facility, with this
production strategically positioned on Canada's coasts. Zenabis expects these
facilities to have an annual design capacity of 131,300 kg of dried
cannabis annually by the third quarter of 2019. These facilities,
if fully built out and converted for cannabis production, would
have an annual design capacity to yield approximately 478,900 kg of
dried cannabis annually, for both national and international market
distribution. An additional 700,000 square feet of greenhouse space
will be used to continue the existing propagation business and
produce industrial hemp, and can be converted to cannabis
production at such a time that is beneficial to the strategic
position of the company. The Zenabis brand name is used in the
cannabis medical market, while the Namaste and Blazery brand names
are used in the cannabis adult-use recreational market, and the
True Büch brand name is used for Zenabis' kombucha products.
Forward Looking Information
This news release contains statements that may
constitute "forward-looking information" within the meaning of
applicable Canadian securities legislation. Forward-looking
information may include, among others, statements regarding the
future plans, costs, objectives or performance of Zenabis, or the
assumptions underlying any of the foregoing. In this news release,
words such as "may", "would", "could", "will", "likely", "believe",
"expect", "anticipate", "intend", "plan", "estimate" and similar
words and the negative form thereof are used to identify
forward-looking statements. In this news release, forward-looking
statements relate, among other things, to: facility space and
facility space under, or scheduled for, construction, the expected
timing and completion of current and planned conversion, expansion,
licensing and optimization of our facilities and the resulting
expected annual design and production capacities. Forward-looking
statements should not be read as guarantees of future performance
or results, and will not necessarily be accurate indications of
whether, or the times at or by which, such future performance will
be achieved. No assurance can be given that any events anticipated
by the forward-looking information will transpire or occur.
Forward-looking information is based on information available at
the time and/or management's good-faith belief with respect to
future events and are subject to known or unknown risks,
uncertainties, assumptions and other unpredictable factors, many of
which are beyond Zenabis' control. These risks, uncertainties and
assumptions include, but are not limited to, those described in the
Shelf Prospectus, a copy of which is available on SEDAR at
www.sedar.com and could cause actual events or results to differ
materially from those projected in any forward-looking statements.
Furthermore, any forward-looking information with respect to
available space for cannabis production is subject to the
qualification that management of Zenabis may decide not to use all
available space for cannabis production, and the assumptions that
any construction or conversion would not be cost prohibitive,
required permits will be obtained and the labour, materials and
equipment necessary to complete such construction or conversion
will be available. Accordingly, readers should not place undue
reliance on the forward-looking statements and information
contained in this news release. Zenabis does not intend, nor
undertake any obligation, to update or revise any forward-looking
information contained in this news release to reflect subsequent
information, events or circumstances or otherwise, except if
required by applicable laws.
For more information, visit: https://www.zenabis.com.
SOURCE Zenabis Global Inc.