Bevo Agro Inc. announced that it had signed an Arrangement Agreement dated October 4, 2018 with Sun Pharm Investments Ltd. for a reverse take-over of Bevo, and announced its intent to change its name to Zenabis Global Inc. Through Sun Pharm’s subsidiary licensed producer Zenabis Ltd., Zenabis Global Inc. will have nearly 3.5 million square feet of available production space.1
Sun Pharm is pleased to announce that Zenabis has signed an LOI with Hillsboro Corp Inc. to develop cannabis infused kombucha. Particularly, under the LOI Zenabis intends to work with True Buch to develop and distribute cannabis infused cultured tea beverage products. A definitive agreement is expected to be entered into shortly.
True Buch is a kombucha company with expertise in the creation of cultured tea beverages. True Buch cultured tea beverages are raw, unpasteurized, gluten free and non-GMO, with over 11 distinct flavours. Zenabis and TrueBuch intend to utilize each other’s expertise to infuse cannabis into True Buch beverages, creating a cultured tea beverage CBD product.
“Zenabis is emerging as one of the largest cannabis producers in the world according to available growing capacity. We are partnering with best-in-class manufacturers in a variety of sectors, and True Buch Kombucha is no exception,” said Rick Brar, CEO of Zenabis. “By bringing together True Buch’s expertise in cultured tea beverages with Zenabis’ expertise in consumer product development and the science of cannabis, we can offer a high-quality product that taps into growing consumer demand in the beverage category.”
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“We firmly believe cannabis infused functional beverages, such as kombucha, are the next progressive step forward in this high growth industry,” said Conrad Ferrel, CEO of True Buch. “Partnering with Zenabis gives True Buch Kombucha access to the expertise we need to supply the market with high-quality cannabis infused beverages. It’s an exciting time and we couldn’t be more pleased with the opportunity to partner with Zenabis and their amazing team.”
Date: October 22, 2018
Source: Financial Content