Zenabis Global (TSX: ZENA) recently issued an update regarding its facility construction and licensing activities as well as the company’s cannabis production results. Among other highlights, the company reported a cultivation output of 1,996 kg of dried cannabis in August 2019, surpassing its revised forecast output of 1,579 kg by more than 26%. The company remains focused on advancing the construction underway at Zenabis Langley, which is anticipated to reach a total annual cultivation capacity of 143,200 kg upon completion of licensing. “August output was more than 60% greater than any prior month. Through to the end of October we expect the variety of cultivation approaches and rapid scale-up of the facility to result in significant room by room variance, after which we expect to achieve steady-state yields for each cultivar at Zenabis Atholville. We expect general steady-state operations in Atholville by December of 2019,” Zenabis CEO Andrew Grieve stated in the news release.
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Zenabis is a significant Canadian licensed cannabis 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; Delta, Aldergrove, Pitt Meadows and Langley, British Columbia; and Stellarton, Nova Scotia. In addition to gaining technologically advanced knowledge of plant propagation, the recent addition of state-of-the-art greenhouses in Langley, Pitt Meadows and Aldergrove provides Zenabis with 3.5 million square feet of facility space that can, if fully converted, be dedicated to cannabis production. If all facility space at Zenabis Atholville, Zenabis Stellarton and Zenabis Langley is fully converted and dedicated to production, Zenabis will own, and have access to 635,000 square feet of high quality indoor cannabis production space, as well as 2.1 million square feet of greenhouse cannabis production space at its Langley facility, with this production strategically positioned on Canada’s coasts. Zenabis expects these facilities to have an annual design capacity of 143,200 kg of dried cannabis under its existing capital plan. These facilities, if fully built out and converted for cannabis production, would have an annual design capacity to yield approximately 490,800 kg of dried cannabis annually, for both national and international market distribution. An additional 700,000 square feet of greenhouse space will be used to continue the existing propagation business and produce industrial hemp, and can be converted to cannabis production at such a time that is beneficial to the strategic position of the Company. The Zenabis brand name is used in the cannabis medical market, while the Namaste and Blazery brand names are used in the cannabis adult-use recreational market, and the True Büch brand name is used for Zenabis’ kombucha products. For more information, visit the company’s website at www.Zenabis.com.
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