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Zenabis Joint Venture Receives EU GMP Certification
7:45 AM ET 2/1/21 | Dow Jones
VANCOUVER, BC, Feb. 1, 2021 /CNW/ - Zenabis Global Inc. (TSX: ZENA) ("Zenabis" or the "Company") announces today that its Maltese joint venture, ZenPharm Limited ("ZenPharm"), has received European Union Good Manufacturing Practices ("EU GMP") certification issued by the Malta Medicines Authority.
EU GMP certification is issued by the designated regulatory authority to pharmaceutical facilities that have passed a rigorous regulator-led audit and inspection process. EU GMP certification is a requirement for export of medicinal cannabis products into most European markets and ensures that patients seeking medicinal cannabis treatments benefit from the highest quality and safety standards in manufacturing processes.
ZenPharm will commence shipments of dried cannabis produced by Zenabis' EU GMP compliant approved facility in Atholville, New Brunswick into the EU medicinal cannabis market upon receipt of its final license requirement issued by the Malta Medicines Authority for the Production of Cannabis for Medicinal and Research Purposes ("Cannabis License") as afforded under Chapter 578 of the laws of Malta, which is expected to occur in the first quarter of 2021. ZenPharm's has already signed its first supply agreement with a customer located in Germany with minimum volume commitments of 500 kg per year.
Shai Altman, Chief Executive Officer of Zenabis, said: "the receipt of EU GMP certification by ZenPharm is a very significant accomplishment for the Company. This, together with the pending Cannabis License, are the last elements that will allow ZenPharm and Zenabis to access the vast EU medicinal cannabis market and we are looking forward to growing our footprint in this market."
About
Zenabis is a significant Canadian licensed cultivator of medical and recreational cannabis. Zenabis employs staff coast-to-coast, across facilities in Atholville, New Brunswick; Langley, British Columbia; and Stellarton, Nova Scotia. Zenabis currently has three licensed Cannabis cultivation facilities in Canada, together with its cannabis import, export and processing joint venture, ZenPharm, operating from Bir ebbu a, Malta.
The Zenabis brand name is used in the cannabis medical market, and the Namaste, Blazery, and Re-Up brand names are used in the cannabis adult-use recreational market.
Well, I hope this raises the stock price !
168% Growth Q3 2020 see link below...amazing.
https://www.newcannabisventures.com/wp-content/uploads/2021/01/Revenue-Tracker-Canadian-Dollar-01-28-21.jpg
Zenabis Global Inc. (OTCMKTS:ZBISF) has provided its corporate update after an impressive year in which it continued to increase its sales.
https://drpgazette.com/2021/01/28/zenabis-global-inc-otcmktszbisf-provides-corporate-update-and-revises-q4-2020-revenue-guidance/
Zenabis Atholville receives CUMCS certification
The company’s Zenabis Atholville received a Good Agricultural and Collecting Practices Certification which offers evidence that the company has met the CUMCS quality and consistency standards. Zenabis becomes the first Canadian company to receive Contro Union Medical Cannabis Standard certification which is necessary for export jurisdiction. The Zenabis Atholville continues in a steady production state in terms of cultivation with 2020 harvest volumes expected to attain design capacity. Equally, extraction operations are running at capacity following the surge in demand for cannabis derivatives including Namaste’s RAX Era and Re-Up 510 vaporizer cartridges. Already the Re-Up cartridges have launched in British Columbia, Ontario, and New Brunswick.
In December, the company completed another export shipment of packaged medical cannabis to Australia. Also, Zenabis currently has there an ongoing bulk supply arrangement for shipping up to 250 kg per month. There are two ongoing arrangements with Israeli counterparties with a combined volume of around 1,000 kg per month.
Zenabis growing sales in all categories
The company’s CEO, Shai Altman said that the company has continued to grow sales in all categories and all channels. Altman said that this is a great testament to the value proposition, quality, and uniqueness of Zenabis’s product lines and brands. He said that this is the foundation that they will continue to grow and expand operations. Altman also said that the entering of a strategic agreement with Echelon will help the company to successfully obtain new debt financing to repay Senior Debentures.
Recreational cannabis sales have continues to grow due to the price competitiveness and quality of Zenabis’s product portfolio. Also, the introduction of new products including three new strains expected to ship to provincial markets in ore-rolls and flower formats will boost sales. The company revised its Q4 2020 consolidated net revenue guidance to between $22 million and $27 million with adjusted EBITDA expected to be between $3 million and $5 million.
Managed to get another 40k today. I'm just thinking about adding another 50k tomorrow (I had some cash free up from an old penny stock today) but may wait a few days to see which way its goes first. Things have been moving in a positive direction lately and I'm hoping for merger news soon. Take care Nu.
Hey Coho20,
I really really hope you are correct!.
Zena is trending a little bit on “Reddit” FYI
Got 50k yesterday. Shooting for another 40k tomorrow. This is a very undervalued stock right now. I will continue to throw everything I can at this price point because I think this is going to move up soon and never look back.
Well you have to do your own DD and know that this is still a high risk high reward stock but they have definitely turned the corner in my opinion. I will buy another 50k this week and then sit and wait and enjoy the ride.
Hey Coho20,
So you are predicting/thinking stock consistently rising and going to .80 cents soon?
I Currently have a lot of shares and debating what to do
Going to try for another 50k shares tomorrow this stock now has very little down side and an extremely large upside potential. Debt has been reduced by 50% and secured with a proper bank, euro certification all ready to go, most products are top sellers and preferred by consumer. We could easily see $0.80 by end of 2021. What's not to like?
1st Canadian Company to get CUMCS Certification...Right on.
https://cdn-ceo-ca.s3.amazonaws.com/1g0pecm-8F2D0A3B-6666-4F8B-A07C-5F572AFFD9A5.png
Zenabis Announces $60m Committed Revolving Credit Facility to Refinance Senior Debt held by Sundial Growers
7:45 AM ET 1/22/21 | Dow Jones
VANCOUVER, BC, Jan. 22, 2021 /CNW/ - Zenabis Global Inc. (TSX:ZENA) ("Zenabis" or the "Company") is pleased to announce that it has entered into a credit agreement (the "Credit Agreement") with a Canadian private debt fund (the "Agent"), as agent on behalf of certain lenders, in respect of a committed revolving credit facility in a principal amount of up to $60 million, subject to borrowing base requirements based on eligible receivables, inventory and real estate (the "Facility").
Advances made under the Facility will bear interest at a rate per annum equal to the greater of 10% and the Toronto-Dominion Bank 's prime rate, from time to time, plus 7.55%, calculated daily and payable monthly. The Facility will have a maturity date of January 21, 2022 and may be extended for up to two additional periods of 180 days each with the mutual agreement of the Company and the Agent. The Facility will be secured against certain real and personal property of Zenabis and its subsidiaries.
The proceeds of the Facility will be used to repay the Company's outstanding secured debenture, which is currently held by an affiliate of Sundial Growers and currently bears interest at a rate of 14% per annum, and for general corporate purposes, including to finance working capital requirements. This refinancing of the secured debenture will substantially reduce the Company's interest costs.
Pursuant to the Credit Agreement, the Company has agreed to pay customary financing review and commitment fees. An additional customary commitment fee is payable upon any extension of the term of the facility. Any undrawn amounts of the Facility will bear a non-utilization fee at a rate of 2.40% per annum. The obligation of the lenders to make advances under the Facility, including the initial advance, is subject to the satisfaction of a number of conditions precedent. In addition to conditions to funding, the Credit Agreement contains customary affirmative, negative and financial covenants and customary events of default.
The Company has the right to terminate the Agreement upon 30 days' notice, including upon a refinancing or change of control, subject to the payment of a termination fee.
In addition to the cash fees, subject to the approval of the Toronto Stock Exchange (the "TSX") and the provisions of the Credit Agreement, the Company is required to issue to the Agent, on behalf of the lenders, at the time of the first advance under the Credit Agreement, as a partial commitment fee, 5,972,873 Zenabis common shares (the "Commitment Shares"). The Commitment Shares will subject to a hold period of four months plus one date following the date of issuance of the Commitment Shares. The issuance of the Commitment Shares is subject to the approval of the TSX.
Echelon Capital Markets is acting as exclusive financial advisor in the arrangement of this credit facility.
Shai Altman, CEO of Zenabis stated: "We are very pleased to announce this new credit agreement with our new financing partners. This committed revolving credit facility will enable the Company to substantially reduce its cost of capital while providing increased liquidity with which to finance Zenabis' continuing revenue growth and increase its operating flexibility. We'd also like to take this opportunity to thank Echelon Capital Markets for their assistance in arranging this credit facility".
About Zenabis
Zenabis is a significant Canadian licensed cultivator of medical and recreational cannabis. Zenabis employs staff coast-to-coast, across facilities in Atholville, New Brunswick; Langley, British Columbia; and Stellarton, Nova Scotia. Zenabis currently has 111,200 kg of licensed cannabis cultivation space across three licensed facilities in Canada, together with its cannabis import, export and processing joint venture, ZenPharm, operating from Bir ebbu a, Malta.
The TSX has not reviewed and does not accept responsibility for the adequacy of the content of the information contained herein. This press release contains certain "forward-looking statements" and "forward-looking information" as defined under applicable Canadian securities laws. Forward-looking statements or forward-looking information involve risks, uncertainties and other factors that could cause actual results, performances, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward- looking statements or forward-looking information can be identified by words such as "anticipate," "intend," "plan," "goal," "project," "estimate," "expect," "believe", "future," "likely," "may," "should," "could", "will" and similar references to future periods. All statements other than statements of historical fact included in this release are forward-looking statements, including, without limitation, statements regarding the ability of Zenabis to drawdown amounts under the Credit Facility. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements or information. Important risks and factors that could cause actual results or events to differ materially from Zenabis' plans and expectations include the satisfaction of conditions to the lender's commitment to fund advances under the Credit Agreement and the timing thereof, including timely receipt of all required third party approvals, including TSX approval of the Commitment Shares, the lender's ability to fund advances under the Credit Facility, actual results of business negotiations, marketing activities, adverse general economic, market or business conditions, regulatory changes, risks relating to the COVID-19 pandemic, governmental responses thereto, measures taken by the Company in respect thereto and the impact thereof on the global economy, capital markets, the cannabis industry and the Company, and other risks and factors detailed herein and from time to time in the filings made by Zenabis with securities regulators and stock exchanges. Any forward-looking statement or information only speaks as of the date on which it was made and, except as may be required by applicable securities laws, Zenabis disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise. Although Zenabis believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance or events, and accordingly, investors should not rely on such statements.
For more information, visit: https://www.zenabis.com.
SOURCE Zenabis Global Inc.
View original content: http://www.newswire.ca/en/releases/archive/January2021/22/c3531.html
/CONTACT:
Media Relations: Email: media@zenabis.com, Phone: 1-855-936-2247; Investor Relations: E-mail: invest@zenabis.com, Phone: 1-855-936-2247
/Web site: www.zenabis.com
Copyright CNW Group 2021
> Dow Jones Newswires
January 22, 2021 07:45 ET (12:45 GMT)
Better years to come it’s only the beginning for us
It was a fairly good week for Zenabis.
What are everyone’s thoughts?- how much will each share go too and approximately what dates?
$ZBISF Bullish https://schrts.co/YckPxIrK
.25 cents per share would be fantastic!
Could be? Been hearing .25 per share buyout rumors. I hope it happens. I have been buying every day at these levels.
This may be the new merger?
This guy has been correct before on Twitter..
Everyone’s favourite #PotStocks ...$ZENA senior lender alleges default under debenture.
— Betting Bruiser (@BettingBruiser) January 6, 2021
Then $ZENA pumps merger rumours with another dumpster fire LP.
Likely merger between $HEXO & $ZENA is the one spoke about. #PotStocks
They’re caught by the short hairs and trying a desperation move. The other potential buyer will back off given the litigation threat.
Smart move by Sundial, and it will likely succeed.
**NEWS** Zenabis Enters Exclusive Acquisition Discussions with Another Canadian LP as Sundial Attempts to Foreclose on Recently Acquired Debt
https://www.newcannabisventures.com/zenabis-enters-exclusive-acquisition-discussions-with-another-canadian-lp-as-sundial-attempts-to-foreclose-on-recently-acquired-debt/
Looks like Sundial is attempting some sort of hostile takeover that caught Zenabis by surprise. Now it seems another LP might want Zenabis too. Market doesn't seem to mind it. Grab your popcorn this one could get interesting. imho glta
Thanks.
Do you happen to know when next financials are released ?
Hopefully when they release their next fincials.
Things are looking good.
Hopefully when they release their next fincials.
Things are looking good.
Huge moves- I agree!
.24- .80 cent range would be great.
Thoughts on when this will be ?
Huge Moves. This is going to be a great year! This company is so undervalued.
Should be in the .24 to .80 range based on future sales and debt reduction.
Zenabis Disposes of Bevo Farms Ltd. and Reduces Debt by $49.5 Million
https://www.marketwatch.com/press-release/zenabis-disposes-of-bevo-farms-ltd-and-reduces-debt-by-495-million-2021-01-04?mod=mw_quote_news_seemore
Thanks for posting these 2 news articles!.
Both are good news.
What do you think the stock should go to $ wise in the next while ?
**NEWS** Zenabis Sells $7 Million of Cannabis
https://finance.yahoo.com/news/johnson-johnson-initiates-pivotal-global-104500851.html?p=ZENA.TO
**NEWS** Zenabis Disposes of Bevo Farms Ltd. and Reduces Debt by $49.5 Million
https://www.newswire.ca/news-releases/zenabis-disposes-of-bevo-farms-ltd-and-reduces-debt-by-49-5-million-898862074.html
Looks like CEO & CFO have been busy behind the scenes getting ZENA's financial house in order. Paying off debt with weed, Genius!!! Like what I'm seeing here. glta
**NEWS** Sundial Announces Strategic Investment
https://www.prnewswire.com/news-releases/sundial-announces-strategic-investment-301199259.html
Seems like a win win to me. Sundial is getting control of world class assets, and ZENA is getting a fresh start with a fellow LP. Plus Sundial is going to need lots of new capacity for its entry into solventless concentrates. My guess is much of that new supply will come from Zenabis Atholville :) imho glta... Happy New Year!!!
https://www.newswire.ca/news-releases/sundial-announces-concentrates-licence-agreement-with-simply-solventless-895777810.html
Educated Opinions from all please.
2 questions:
1)Is this Sundial deal good for Zenabis?
2)Will this make Zenabis shares go up?
Hi,
I have not monitored the stock in past week.
How was it a green day? I see it still at same price..
Nice GREEN day today. Investors are realizing this is one of the best MJ plays in the industry.
The 20 Most Undervalued Cannabis Stocks (Zenabis #4)
https://seekingalpha.com/article/4395606-20-undervalued-cannabis-stocks
NG, Hard to say on the share price, so many variables are involved. Book value is easier to calculate and compare to other stocks like this analyst has done. Believe ZENA and other undervalued cannabis companies closing in on profitability will shine in 2021. imho gl
BlueGreenPower- Thanks - good points .
Agreed .
What are your predictions for each share?
Anyone- predictions ?....
Nuongalex, The update sounded very positive to me. The CEO sounds optimistic about record sales coming in December, and their ability to restructure the debt. Now that they are EBITDA positive that could help them refinance on better terms. To me ZENA being EBITDA positive, and having GMP approval, puts them well ahead of many other LP's at this point. Still adding on the dips... glta
Thoughts would be this it’s very hard to truly have patience. I think we just have to wait until the company starts to get some financial traction on paper????????????????????????????
Hi “BlueGreenPower”,
I really hope this new news brings the stock up ASAP
Thoughts?? Anyone.....
**NEWS** Zenabis Provides Corporate Update
https://www.newswire.ca/news-releases/zenabis-provides-corporate-update-828504717.html
Glad to see the company is rethinking its entrance into beverages, which have been a real disappointment sales wise in Canada. Smart of them to be focusing on The Big Three by market share, Flower, Pre-rolls, and Vapes. imho glta
Happy Holidays Everybody!!!
People lost confidence after the accounting glitches- but the revenues will be just too good to pass up in the coming year.
This company is undervalued.
Thank you for getting back!
I sure hope so, .80- $2.40 would be fantastic!.
I currently have 180,000 shares and I am getting it fed up with it fluctuating between 5-6 cents for 4 months now.
The revenues should continue to grow throughout 2021. I think we should see .80 to $2.40 which would be more in line with other MJ stocks. The USA is slowly decriminalizing, which could be a big boon as well.
What do you think stock will go up too in the next 4 months.??
Since September this stock has been so stagnant at 5 cents- 6 cents
Outlook of this stock in the next 4-5 months??
I currently have 180,000 shares
Another great move by the CEO! This stock is ready for a big run in 2021!
We should be around $.90 to $1.16 by March.
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