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VANCOUVER, May 2, 2019 /CNW/ - Zenabis Global
Inc. (TSXV:ZENA) ("Zenabis" or
the "Company") announces that it has granted an
aggregate of 3,755,511 incentive stock options (each, an "Option")
to certain independent directors, officers, employees and
consultants of the Company in accordance with the Company's stock
option plan on its annual grant cycle. The grant date of these
options is May 1, 2019.
Each Option is exercisable into one common share in the capital
of the Company (each, a "Share") at a price of $1.91 per Share, being the closing price of the
Shares on the TSX Venture Exchange on April
30, 2019, for a period of three to five years from the date
of grant.
No such options were granted to the Chairman of the Board or any
director who is also member of management.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
About Zenabis
Zenabis is a Canadian publicly listed licensed cultivator of
medical and recreational cannabis. The Company was formed in
January 2019 through the combination
of Bevo Agro Inc., one of the largest propagation businesses in
North America; and Sun Pharm
Investments Ltd., a large privately held licensed cannabis producer
with established medical and recreational cannabis brands and
distribution. The Company owns six state-of-the-art indoor and
greenhouse facilities across Canada, four of which are intended for
cannabis cultivation. If all four such facilities are fully
built out and converted to cannabis production, they would have a
design capacity to yield approximately 479,300 kg of dried cannabis
annually. The remaining two facilities are currently generating
revenue in the propagation and floral business and have applied for
industrial hemp cultivation licenses.
The Company benefits from a management team that has growing
expertise developed over 30 years in one of the largest plant
propagation businesses in North
America, as well as extensive sales, marketing and
distribution experience. These strengths have been key to
Zenabis' success in securing supply agreements and arrangements
with eight Canadian provinces and one territory, where the
Company's recreational products are sold both online and in store
through government-owned cannabis stores. In addition, the Company
has signed agreements with Pharmasave and Shoppers Drug Mart to
supply products to their medical customers.
SOURCE Zenabis Global Inc.