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.”
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 Birżebbuġa, 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.
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: receipt of its cannabis license from the Malta Medicines Authority, which is expected to occur in the first quarter of 2021; ZenPharm’s initial customer is located in Germany and minimum volume commitments with this customer are 500 kg per year; and we are looking forward to growing our footprint in this market. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur. Forward-looking information is based on information available at the time and/or management’s good faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond Zenabis’ control. 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.