Zenabis Provides Update on Annual Meeting of Shareholders

VANCOUVER, May 26, 2020 /CNW/ - Zenabis Global Inc. ("Zenabis" or the "Company") announces that, after careful consideration and in accordance with applicable corporate and securities laws and stock exchange rules, it has decided to hold its annual meeting of shareholders at a date in the second half of 2020. The Company is considering an appropriate time and format for its annual meeting of shareholders and will provide further information on its annual meeting of shareholders as soon as it is available.

The Company is also relying on the exemption provided in BC Instrument 51-516 – Temporary Exemptions from Certain Requirements to File or Send Securityholder Materials (and similar exemptions provided by the other Canadian securities regulators) to postpone the filing of its executive compensation disclosure required under Section 9.3.1(2.2) of National Instrument 51-102 – Continuous Disclosure Obligations until such time as it is filed and delivered to shareholders as part of the Company's information circular relating to its 2020 annual meeting of shareholders.

About Zenabis Global Inc.

Zenabis is a significant Canadian licensed cultivator of medical and recreational cannabis, and a propagator and cultivator of floral and vegetable products. Zenabis employs staff coast-to-coast, across facilities in Atholville, New Brunswick; Delta, Aldergrove, Pitt Meadows and Langley, British Columbia; and Stellarton, Nova Scotia. Zenabis currently has 111,200 kg of licensed cannabis cultivation space across four licensed facilities. Zenabis has 3.5 million square feet of total facility space dedicated to a mix of cannabis production and cultivation and its propagation and floral business.

Zenabis expects its Zenabis Atholville, Zenabis Stellarton and Zenabis Langley facilities to be in steady state production in 2020. The Zenabis brand name is used in the medical cannabis market, the Namaste, Blazery, and Re-Up brand names are used in the adult-use recreational cannabis market, and the Tru Büch brand name is used for Zenabis' kombucha products.

Cautionary Statement Regarding Forward-Looking Information

Certain statements contained in this press release may constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated", "proposed" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current believe or assumptions as to the outcome and timing of such future events. Such forward-looking information is subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. In particular, this press release contains forward-looking information relating to the anticipated filing of the Company's executive compensation disclosure. Various assumptions or factors are typically applied in drawing conclusions or making the forecast or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company. The forward-looking information contained in this press release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

For more information, visit: https://www.zenabis.com.

SOURCE Zenabis Global Inc.

Media Relations, Email: [email protected], Phone: [phone]; Investor Relations, E-mail: [email protected], Phone: [phone]

Related Links

www.zenabis.com