Pot producer Sun Pharm changes name to Zenabis

The move to create Zenabis Global Inc. is part of a reverse takeover

Medical marijuana producer Sun Pharm Investments Ltd. is moving to create Zenabis Global Inc., a publicly-traded company with growing operations in British Columbia, New Brunswick, and eventually in Nova Scotia.

RELATED: Marijuana roll out will be challenging, new territory for everyone: Horgan

The privately-held cannabis company is merging with a subsidiary of propagated agricultural plants supplier Bevo Agro Inc. via reverse takeover, in which a smaller firm takes over a public company.

Bevo is currently listed on the TSX Venture exchange and after the transaction and amalgamation, the company will change its name to Zenabis, taking after one of Sun Pharm’s cannabis brands.

Sun Pharm says it currently has two licensed production facilities in British Columbia and New Brunswick, with a third due to come online shortly in Nova Scotia, together, encompassing more than 61,000 square metres of growing space.

RELATED: B.C. business makes a mint on cannabis extraction equipment

After the transaction is complete, the companies say Bevo’s greenhouse facilities in Langley are intended to be expanded and retrofitted.

On completion of planned expansions, the companies say the combined entity will have more than 320,000 square metres of indoor and greenhouse space across the three provinces.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

Strong winds expected to hit north, west Vancouver Island: Environment Canada

Environment Canada said southeast winds will reach speeds of 70 to 90 kilometres per hour

It’s the last day to vote in B.C.’s referendum on electoral reform

Ballots must now be dropped off in person to meet the deadline of 4:30 p.m.

Property assessments to rise again on Vancouver Island

Some areas could see their assessments spike as much as 20 per cent

Wet snow, rain expected on Vancouver Island this weekend

Environment Canada issued a special weather statement on Dec. 7

Tofino’s Crystal Cove and Ocean Outfitters win Vancouver Island EcoStar Awards for green steps

“Tourism is a privilege and our organization takes our ecological footprint seriously.”

VIDEO: This B.C. school leads country in vaccine donations to UNICEF

Federally funded Kids Boost Immunity uses quizzes to earn vaccinations

Boeser scores 3, Pettersson has 5 points as Canucks hammer Blues

Vancouver picks up impressive 6-1 win in St. Louis

B.C. police stop drunk driver who offered up burger instead of ID

Roadblock checks over the weekend found at least two other impaired drivers

In Canada, the term ‘nationalism’ doesn’t seem to have a bad rap. Here’s why

Data suggest that Canadians don’t see the concept of nationalism the way people do in the United States

Small quake recorded west of Vancouver Island

No injuries or tsunami warning after 5.4 rumble felt some 400 kilometres from Victoria

B.C. suspends Chinese portion of Asian forestry trade mission due to Huawei arrest

Huawei’s chief financial officer Meng Wanzhou was detained at the request of U.S. in Vancouver

Canadians spent $1.7 billion dollars online in December 2017

Online retail sales accounted for 3.4 per cent of total retail sales

2-year investigations nets $900,000 in refunds for payday loan customers

Consumer Protection BC says selling practices were ‘aggressive and deceptive’

China: Canada’s detention of Huawei exec ‘vile in nature’

Huawei is the biggest global supplier of network gear for phone and internet company

Most Read