|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||1.1500 - 1.2400|
|52 Week Range||1.0100 - 3.0360|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Zenabis Global Inc. did the unlikely Tuesday: The cannabis company raised cash without going to a group of hedge funds in Canada that deploy aggressive trading strategies to recycle capital in the pot industry.
VANCOUVER , July 2, 2019 /CNW/ - Zenabis Global Inc. (ZENA.TO) ("Zenabis" or the "Company") today announced that its wholly-owned subsidiary, Zenabis Ltd., has entered into an agreement with High Park Holdings Ltd. ("High Park") (the "Supply Agreement"), a wholly-owned subsidiary of Tilray, Inc. (TLRY) ("Tilray"), pursuant to which High Park will advance CAD $30 million to Zenabis (the "prepaid amount") in return for a supply of dried cannabis from Zenabis. Under the terms of the Supply Agreement, Zenabis will deliver a monthly quantity of dried cannabis to High Park commencing in October 2019 .
Subject to receipt of all required regulatory approvals, the Amendment will extend the maturity date of the Facility from October 17, 2019 to the date that is one year from the date of the closing of the Amendment (the "Closing Date").
Zenabis Outperforms Design Capacity by 35% in May and Announces 70% Increase in Licensed Annual Cultivation Capacity
The cannabis market is expanding so fast that keeping up with all of the different companies jumping into the business and going public is near impossible. At the same time, some of the developments under the radar of the general market provide opportunities for investors willing to take on risk.One suddenly interesting play in the Canadian cannabis sector is Zenabis Global (ZBISF) that was formed via a RTO merger in January. The company is a potential hidden giant in the making.Major PlansZenabis Global definitely talks a big game. The licensed cultivator of medical and recreational cannabis was formed in January via the combination of Bevo Agro, Inc. and Sun Pharm Investments Ltd.The combination provided a propagation business with greenhouses in North America with a large privately held cannabis producer that operates four facilities intended for cannabis cultivation. Zenabis has a stated plan to reach cannabis production capacity of 131,300 kg in Q3 with a total design capacity of 479,300 kg.The company has very lofty goals for a cannabis player that has yet to top 1,000 kg in monthly cultivation. New CEO Andrew Grieve shared the following corporate objectives along with the conditional approval of “ZENA” joining the Toronto Stock Exchange: * Becoming one of the largest licensed producers of medical and adult-use cannabis in Canada and securing competitive positions in a number of international markets. * Achieving industrial scale cultivation of top-quality cannabis at a low cost. * Rolling out a large offering of ultra premium, premium and value cannabis products to the market through our significant distribution networks.The interesting part is that the stock only has a market cap of $250 million despite all of the large-scale plans in the Canadian cannabis sector. The Sun Pharm portion of the business generated Q4 revenues of C$3.8 million primarily from the medical and recreational cannabis market in Canada while the main Bevo greenhouse is being converted to grow cannabis.Another interesting part is that Zenabis under the new leadership of Andrew Grieve has taken on the stance of providing transparent details on monthly cultivation numbers and plans. The existing licensed Zenabis facilities have the following cultivation targets:Source: Zenabis press releaseMajor UplistingThe biggest news for the stock could be the impending uplisting to the TSE. The company announced conditional approval on April 22. Such a move could lead to a listing on a major exchange in the U.S. similar to the big Canadian LPs that obtained outsized market valuations.The company might be better off pursuing business in the U.S. cannabis market, but a move to the TSE will provide substantially more liquidity for the stock and hence a much higher valuation in the short term. The major exchanges don’t allow for listings of companies with a business that is illegal on a federal level such as cannabis in the U.S.The stock is already down substantially from the highs following the news of the RTO merger. The next key catalyst along with the TSE uplisting that would provide major credibility to the new cannabis firm is Q1 earnings on May 30. The report will provide the first financials of the new company along with analyst access to the CEO and new CFO.TakeawayThe key investor takeaway is that Zenabis Global has an incredible plan to turn the greenhouse and growing expertise of Bevo Agro along with the cannabis licenses of Sun Pharm to build a cannabis industry leader.The market hasn’t taken notice of the stock yet. The current valuation near $250 million is not reflective of the potential growth of the company with one of the largest cannabis cultivation plans.To read more on the nitty gritty of what’s going on in the rising cannabis industry, click here. Disclosure: The author has no positions in Zenabis Global stock. More recent articles from Smarter Analyst: * Facebook Watch Is One to Watch * Rally on! Micron (MU) Stock Has Another 16% to Go, Says Deutsche Bank * Apple (AAPL) Slowly Assembling Approach to Autonomy with Drive.ai * Apple (AAPL): With High Hopes for Trade War Resolution, Is It Time to Buy the Stock?
VANCOUVER , May 13, 2019 /CNW/ - Zenabis Global Inc. (ZENA.V) ("Zenabis" or the "Company") is pleased to announce the licensing of Phase 2A at its Zenabis Atholville facility (an additional 3,200kg of cannabis cultivation capacity) and disclose the date of its next operational update: May 21, 2019 (for the month of April 2019 ). This amendment increases licensed operating space from the existing 136,800 square feet at Zenabis Atholville to 174,900 square feet. "Since the creation of Zenabis in January of 2019, we have more than doubled our licensed cultivation capacity from approximately 6,000 kg to 13,400 kg, and we have an additional 9,800 kg of cultivation capacity at Zenabis Atholville submitted and awaiting licensing approval.
Seattle, Washington--(Newsfile Corp. - May 8, 2019) - CFN Media Group ("CFN Media"), the leading agency and financial media network dedicated to the North American cannabis industry, announces the publication of an article covering Zenabis Global Inc. (TSXV: ZENA) and its aggressive cannabis production model. With licensed facilities in British Columbia, New Brunswick, and Nova Scotia, near-term and large-scale expansion plans, and supply agreements in place across the country, Zenabis is aiming to take ...
"We are very excited to announce the rollout of our new recreational products as they represent a tangible milestone in our product expansion strategy, which will contribute to overall revenue growth in 2019," stated Andrew Grieve , Chief Executive Officer of Zenabis. The Company's new pre-roll products, initially launched in stores in mid-April, are currently being carried in its key markets of New Brunswick and Nova Scotia . Following the receipt of its oil license as announced in news on March 18, 2019 , the Company has begun offering cannabis oil products under its recreational Namaste brand. Initially, the Company will be offering cannabis oil products in 30 mL bottles and will offer additional products such as soft gel capsules and sprays starting in May 2019 .
VANCOUVER , April 22, 2019 /CNW/ - Zenabis Global Inc. (ZENA.V) ("Zenabis" or the "Company") is pleased to announce that it has received conditional approval to graduate its listing from the TSX Venture Exchange (the "TSXV") to the Toronto Stock Exchange (the "TSX"). "Moving to the main board of one of the largest exchanges in the world is a critical milestone for the Company in terms of demonstrating the strength of our business and expanding our investment appeal to a broader and global audience," stated Andrew Grieve , Chief Executive Officer of Zenabis.
More than 40 international companies applied to address the assembled investors and industry experts at Benzinga's Cannabis Capital Conference April 17-18, from major industry players to rapidly growing startups looking to scale to new markets. Pure Global Cannabis Inc. (OTC: PRCNF) is a vertically integrated cannabis company with a goal of becoming the most trusted LP in the medical channel. The company aims to do this by focusing on four main pillars, but also by learning from the past, said CEO and President Maylay Panchal.
Zenabis Announces Appointment of New Chief Financial Officer and Files Final Base Short Form Prospectus
VANCOUVER , March 18, 2019 /CNW/ - Zenabis Global Inc. ("Zenabis") (ZENA.V) announced today that it is now licensed to process and sell cannabis oil products in Canada . 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 .