ZENABIS MALTESE JOINT VENTURE PARTNER ZENPHARM RECEIVES LICENSE FOR PRODUCTION & DISTRIBUTION OF CANNABIS
Vancouver, British Columbia, May 14, 2021 – Zenabis Global Inc. (TSX: ZENA) (“Zenabis” or the “Company”) announces today that its Maltese joint venture, ZenPharm Limited (“ZenPharm”), has received its Licence for the Production of Cannabis for Medicinal and Research Purposes (“Medicinal Cannabis License”) issued by the Malta Medicines Authority, as afforded under Chapter 578 of the laws of Malta.
The receipt of the Medicinal Cannabis License follows on the earlier European Union Good Manufacturing Practices (“EU GMP”) certification issued by Malta Medicines Authority in January 2021.
The Medicinal Cannabis License is the final license requirement under Malta’s regulatory framework allowing for commercial bulk imports into Malta from Zenabis’ facility in Atholville and subsequent exports of finished medicinal cannabis products to countries of the European Union and United Kingdom. After closing of the Arrangement plan, HEXO (TSX: HEXO; NYSE: HEXO) and Zenabis’ combined product portfolio are expected to gain access to the European market.
The Medicinal Cannabis License allows ZenPharm to commence commercial shipments to the European Union, where Germany is ZenPharm’s most prominent target market. ZenPharm has an executed supply agreement with a German-based customer to supply a minimum volume of 500 kg per year. To that end, ZenPharm will be accepting shipments of up to 300kg from Zenabis Atholville through the end of this calendar year.
ZenPharm will also be launching finished cannabis products under its own brand for distribution within the Maltese medicinal cannabis market, with similar entry into the Polish Market expected in the Q1 2022.
“This license is a milestone that marks the beginning of a new chapter for Zenabis and ZenPharm in securing access to the European market. It builds on the dedicated hard work of our Zenabis employees and of our partners at ZenPharm in achieving EU-GMP certification – a journey that we as a company embarked upon solely in anticipation of this moment. I would like to congratulate ZenPharm management and employees for achieving this incredible milestone” stated Shai Altman, Chief Executive Officer of Zenabis.
Angele Azzopardi, Chief Executive Officer of ZenPharm, said “Whilst ZenPharm GMP Certificate solidified ZenPharm’s position within Zenabis’ strategy for global outreach, the achievement of the Medicinal Cannabis License is instrumental for the joint venture’s vision by way of effective implementation. We are incredibly proud of the Team’s relentless efforts and dedication. The attainment of this License continues to showcase Malta’s regulatory gold standard in assuring the highest quality in medicinal cannabis products”.
Zenabis is a leading Canadian licensed cultivator of cannabis for medical and recreational use. Zenabis employs staff coast-to-coast, with three licenced Canadian facilities in Atholville, New Brunswick; Langley, British Columbia; and Stellarton, Nova Scotia. Zenabis serves international markets directly and in partnership with its joint venture, ZenPharm operating from Birżebbuġa, Malta. Zenabis distributes cannabis products and derivatives under the Zenabis, Namaste and Re-Up brand names.
ZenPharm Limited, headquartered in Malta, is a fully licensed EU-cGMP pharmaceutical company that specialises in medicinal cannabis. ZenPharm is focused on building pharmaceutical expertise that predominately concerns the processing of cannabis into finished dosage form products that are both conventional and innovative in their delivery systems. Above all ZenPharm strives to go beyond the conventional, whilst keeping patient care at the heart of everything it does.
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: ZenPharm will be accepting shipments of up to 300kg from Zenabis Atholville through the end of this calendar year; and ZenPharm will also be launching finished cannabis products under its own brand for distribution within the Maltese medicinal cannabis market, with similar entry into the Polish Market expected in the Q1 2022. These risks, uncertainties and assumptions include, but are not limited to, those described in the shelf prospectus dated April 9, 2019 as supplemented by a 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.