Zenabis Announces Initial Shipments of 510-Threaded Vaporizer Line to OCS
Vancouver, British Columbia – November 6, 2020 – Zenabis Global Inc. (TSX:ZENA) (“Zenabis” or the “Company”) today announced initial shipments of its Re-Up 510-Threaded Vaporizer cartridge line to the Ontario Cannabis Store (“OCS”).
Zenabis expects these first shipments of Re-Up 510 Vaporizer cartridges made to the OCS will arrive in retail stores by next week. Size formats include 0.5g and 1.0g cartridges, which are available in Lemon & Lavender and Hops & Spice flavour profiles. Zenabis expects that the launch of non-strain specific products, such as the Re-Up 510-Threaded Vaporizer cartridge line, that have a greater focus on flavour profiles, as they relate to specific terpenes, will help distinguish its product line amongst the heavily saturated strain specific and Indica/Sativa options that are in market at this time. Zenabis has seen great success to date with these products in New Brunswick and British Columbia, with the 1.0g format having the greatest impact, due to minimal product options in this size format currently on the market. Re-Up 510 Vaporizer cartridges will be priced very competitively in both size formats in Ontario and we expect significant demand for this high quality distillate product, at an accessible price point.
Shai Altman, Chief Executive Officer of Zenabis, stated, “We are very excited to have completed an increase of our distillation and filling capacity that has now enabled us to expand sales and distribution with initial shipments of this high quality product line into Canada’s largest recreational cannabis market. We have seen great success with our Re-Up 510-Threaded Vapes in markets where we launched earlier this year and expect OCS to contribute significantly to our continuing revenue expansion.”
Zenabis is a significant Canadian licensed 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; Aldergrove, Pitt Meadows and Langley, British Columbia; and Stellarton, Nova Scotia. Zenabis currently has 111,200 kg of licensed cannabis cultivation space across four licensed facilities. Zenabis has 3.5 million square feet of total facility space dedicated to a mix of cannabis production and cultivation and its propagation and floral business.
Zenabis expects Zenabis Stellarton and Zenabis Langley facilities to join Zenabis Atholville in steady state production in 2020. The Zenabis brand name is used in the cannabis medical market, the Namaste, Blazery, and Re-Up brand names are used in the cannabis adult-use recreational market.
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: Zenabis expects these first shipments of Re-Up 510 Vaporizer cartridges made to the OCS will arrive in retail stores by next week; Zenabis expects that the launch of non-strain specific products, such as the Re-Up 510-Threaded Vaporizer cartridge line, that have a greater focus on flavour profiles, as they relate to specific terpenes, will help distinguish its product line amongst the heavily saturated strain specific and Indica/Sativa options that are in market at this time; Re-Up 510 Vaporizer cartridges will be priced very competitively in both size formats in Ontario and we expect significant demand for this high quality distillate product, at an accessible price point. 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 dated April 9, 2019 as supplemented by the prospectus supplement dated September 18, 2020 and the annual information form dated March 30, 2020, copies of which are 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. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release. 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.