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

Castor looking into animal control bylaws and improving training for staff

The training is being undertaken by the Town employees to minimize public, staff, and animal risk

Historic Ghost Walks in Stettler slated for May 25th and June 22nd

Find out more about the community’s ‘ghostly’ history

Cultural experience

Metis storyteller Denise Miller visited Gus Wetter School

Town water system operating at significant loss

The Town typically runs at an around 20 per cent loss on the water system

Unveil Studio’s new project, Dream, explores meaning and purpose

The episodic series, shot by Matt and Dan Kooman, consists of inspiring stories from around the world

UPDATE: B.C. pilot killed in Honduras plane crash

The crash happened in the Roatan Islands area, according to officials

Growing wildfire prompts warning for High Level to prepare for evacuation

Town of High Level announced Monday that residents should get personal items in order

Carbon tax, desk-thumping on agenda in upcoming Alberta legislature session

Jason Kenney has appointed a panel to come up with ways to reduce spending in the budget this fall

Facebook takes down anti-vaxxer page that used image of late Canadian girl

Facebook said that the social media company has disabled the anti-vaccination page

Authorities warn out-of-control wildfire could cut northern Alberta town’s electricity

Alberta Transportation has closed Highway 35 south of High Level due to the fire

‘Rope-a-dope’: Environmentalists say Alberta war room threat won’t distract them

Those against Alberta Premier Jason Kenney aren’t worried about promise to fight critics of energy industry

Almost $13 million to be paid to Grande Prairie hospital subcontractors, others

No reasons for the Court of Queen’s Bench order were released

Canada’s parole officers say correctional system has reached breaking point

About half of Canada’s federal parole officers work inside penitentiaries and correctional institutions

Speed, alcohol considered factors in deadly Calgary crash: police

Two female passengers in the Corolla, aged 31 and 65, died at the scene

Most Read