Zenabis

Zenabis Global Inc. was a Canadian medical and recreational marijuana producer.

Zenabis Global Inc.
TSX: ZENA
IndustryCannabis
PredecessorInternational Herbs Medical Marijuana Ltd
Founded2014
FoundersMonty Sikka, Mark Catroppa
FateAcquired by HEXO Corp.
Area served
Global
ProductsZenabis (medical marijuana)
Namaste (recreational marijuana)
Blazery (recreational marijuana)
Re-Up (recreational marijuana)
Websitezenabis.com

History

Zenabis was originally known by the name of International Herbs Medical Marijuana Ltd. and was co-founded by Monty Sikka & Mark Catroppa.[1] It purchased its first facility in 2014 in New Brunswick, and received a cultivation license from Health Canada in 2017.[2] Zenabis received its sales license for dried marijuana from Health Canada in 2018,[1] and received its license to sell cannabis oil in March 2019.[3][4] In January 2019 Zenabis’s parent company Sun Pharm completed a reverse take-over of Bevo Agro Inc., leading to the two firms operating under the banner of Zenabis Global Inc.[5] The company was traded on the TSX under the ticker symbol ZENA.

Like all medical marijuana companies in Canada Zenabis has struggled on the stock market.[6] The company was acquired by HEXO Corp in 2021 in an all-stock deal.[7]

References
  1. Gyarmati, Sandor. "Zenabis aims to be major player in Canada's pot industry". Delta Optimist.
  2. Gabrielle Fahmy (October 19, 2018). "New Brunswick hopes cannabis can help drive rural economic recovery". CBC News.
  3. "Zenabis reçoit le feu vert pour vendre ses produits à base d'huile de cannabis". 19 March 2019.
  4. "New cannabis company Zenabis is born from yet another reverse takeover in cannabis". PotNetwork.
  5. Letson, Cherise (14 January 2019). "Cannabis Company With N.B. Footprint Has Ambitious Growth Plans". Huddle Today.
  6. "Why is Zenabis Global (TSX:ZENA) Stock Down 32% This Week?". www.fool.ca.
  7. "HEXO Corp. and Zenabis Global Inc. Announce Closing of Arrangement" (Press release). GlobeNewswire. June 1, 2021.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.