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

Team Alberta adds nine medals on day two of competition at Canada Winter Games

Team Alberta had a solid day at the 2019 Canada Winter Games in Red Deer

PHOTOS: Canada Games action from the Gary W. Harris Canada Games Centre

Wheelchair basketball, short-track speedskating draw large crowds

Let the Games begin!

Team Alberta takes home gold and silver in speed skating on day one

‘Mitts don’t just warm hands. They warm hearts’: Mitts for Many Program launches

Donate new or lightly used mittens to bin in the Great Hall of the Gary W. Harris Centre

WATCH: Historic night in Red Deer as 2019 Canada Winter Games kicks off

Star-studded Opening Ceremony welcomes athletes from across Canada

Trudeau’s principal secretary, Gerald Butts, resigns amid SNC-Lavalin furor

Butts categorically denies the accusation that he or anyone else in the PMO improperly pressured former attorney general Jody Wilson-Raybould

NDP Leader Jagmeet Singh calls for public inquiry over SNC-Lavalin questions

Vancouver member of Parliament Jody Wilson-Raybould resigned from cabinet last week

Body found after apparent house explosion in Calgary, police investigating

Sgt. Dwayne Lepchuk declined to say whose remains were found

Canadian airlines waiting for guidance from Ottawa over X gender option

Major U.S. airlines said they will change their process so passengers can identify themselves along non-binary lines

Deported B.C. man who came to Canada as a baby granted chance at return

Len Van Heest was deported to the Netherlands in 2017

Sex abuse survivors to meet with Vatican summit organizers

Pope Francis has urged participants to meet with abuse victims before they came to Rome

Ex-FBI official: ‘Crime may have been committed’ by Trump

Andrew McCabe said FBI had good reason to open a counterintelligence investigation into whether Trump was in league with Russia

Most Read