Vancouver, British Columbia – January 10, 2019 – PRESS RELEASE – Zenabis Global Inc. has announced that the trading of its common shares will commence at market open Jan. 10 under exchange symbol “ZENA” on the TSX Venture Exchange (TSXV).
This event follows the completion of the reverse takeover of Bevo Agro Inc. by Sun Pharm Investments Ltd. on Jan. 8, 2019. As previously announced on Oct. 4, 2018, Bevo and Sun Pharm entered into an arrangement agreement with respect to the spin-out of Bevo’s interest in CubicFarm Systems Corp. and subsequent a reverse take-over of Bevo by Sun Pharm, with the resulting combined issuer being Zenabis.
While the Spin-Out and RTO were effective at 12:01 a.m. and 12:05 a.m., respectively, on Jan. 8, 2019, Zenabis’ understanding is that key timing for investors purchasing Bevo shares on the TSX-V over the last two days was as follows:
Jan. 8, 2019 trading day:
The Bevo shares will continue to trade on the TSX-V under the Bevo name and symbol: investors purchasing on the TSX-V will acquire Bevo shares with an entitlement to participate in the Spin-Out and receive their pro rata percentage of CubicFarm Shares.
Jan. 9, 2019 trading day:
The Bevo shares will continue to trade on the TSX-V under the Bevo name but investors purchasing on the TSX-V on this trading day will no longer have an entitlement to participate in the Spin-Out and receive their pro rata percentage of CubicFarm Shares.
Jan. 10, 2019 trading day:
Bevo shares will no longer trade; Zenabis Shares will trade on the TSX-V under the Zenabis name and “ZENA” trading symbol.
As these trading and settlement mechanics were not within Zenabis’ control, investors that traded or intend to trade in shares of Bevo or Zenabis prior to Jan. 14, 2019 are strongly encouraged to contact their investment advisors with any questions in this regard.
Zenabis Key Milestones
- On Sept. 17, 2018, Zenabis submitted its application package to license the Langley greenhouse, which is currently under active review.
- On Oct. 4, 2018 Bevo and Sun Pharm announced the Bevo-Sun Pharm Transaction and the intent of Bevo to change its name to Zenabis Global Inc. upon completion.
- In October 2018, Zenabis became a founding partner of the Centre for Medicinal Cannabis (CMC), a UK-based non-profit organization advocating, educating and lobbying for the implementation of a fair, responsible, and evidence-based medicinal cannabis regime within the National Health System in the United Kingdom.
- On Dec. 22, 2018, Zenabis submitted its cultivation license application for its Stellarton facility, which is currently under active review.
- Since October 2018, three additional flower rooms have been approved by Health Canada and are in operation, with two more in active review.
- On Jan. 9, 2019, Bevo Agro Inc. and Sun Pharm completed the reverse takeover contemplated on Oct. 4, 2018, to become Zenabis Global Inc.
- As of Jan. 10, 2019, Zenabis has secured purchase orders from government and third-party retailers/distributors in New Brunswick, Nova Scotia, British Columbia, Saskatchewan and the Yukon Territory.