Zenabis Global (TSXV: ZENA,OTC Pink:ZBISF) announced it received licensing to start selling cannabis oil products in Canada.
As quoted in the press release:
The license enables Zenabis to now sell cannabis oil produced at its Atholville, New Brunswick facility, one of the largest indoor cannabis growing facilities in Canada, where Zenabis was already processing oil. Zenabis expects to market and sell cannabis oil products to its medical clients and to adult use consumers through supply and distribution agreements that Zenabis has in place with nine Canadian jurisdictions including British Columbia, Alberta, Saskatchewan, Quebec, Nova Scotia, New Brunswick, Manitoba, Prince Edward Island, and the Yukon.
Zenabis expects to have its initial cannabis oil products available for sale in both the medical and adult use markets by early Q2, 2019, and will be launching additional formats and formulations throughout the year.
“This approval provides us with the ability to serve new and existing customers with an expanded range of adult use and medical products through new and easy to use consumption methods. This product category is incredibly important for Zenabis, as it supports our overall growth and product leadership strategy,” said Andrew Grieve, Chief Executive Officer of Zenabis.
Mergers and acquisitions (M&A) in cannabis space have helped boost the industry to new levels.
Strategic sale of non-core assets by Lobe adds non-dilutive capital and shareholder value