Zenabis Provides Update on Details of Special Meeting of Shareholders for Arrangement with HEXO Corp. and Release and Filing of 2020 Financial Results

VANCOUVER, BC, March 23, 2021 /CNW/ - Zenabis Global Inc. (TSX: ZENA) ("Zenabis" or the "Company") announced today that the Company has made the decision to change its special meeting of shareholders to be held for the purpose of submitting the arrangement transaction with HEXO Corp. (the "Arrangement") for shareholder approval (the "Meeting"), which was originally scheduled to be held in person on Thursday, April 15, 2021 in Langley, British Columbia, to a virtual-only meeting to be held on Thursday, May 13, 2021.

The decision to change the format and postpone the date of the Meeting was made by the Company amid ongoing concerns regarding the COVID-19 outbreak and in order to provide for the incorporation by reference into the forthcoming management information circular to be issued by the Company in respect of the Meeting (the "Circular") of the Company's audited consolidated financial statements for the financial year ended December 31, 2020 and the corresponding MD&A and the Company's annual information form for the year ended December 31, 2020 (collectively, the "2020 Year-End Documents"), which the Company anticipates releasing and filing on March 29, 2021.

The Company's board of directors has set Wednesday, April 7, 2021 as the new record date for the Meeting. The revised record and Meeting dates have been agreed to by HEXO Corp. and will be submitted by the Company for approval by the Supreme Court of British Columbia together with the other motion materials in advance of a hearing to obtain an interim court order for various procedural matters in connection with the Arrangement and the Meeting (including the Meeting and record dates), which materials are expected to be filed with the Court shortly following the release and filing of the 2020 Year-End Documents.

The Meeting will be conducted via live audio webcast using the LUMI meeting platform commencing at 10:00 a.m. (Pacific time) on May 13, 2021. Shareholders will have an opportunity to participate in the Meeting regardless of their geographic location, however shareholders will not be able to attend the Meeting in person.

Registered shareholders and duly appointed proxyholders will be able to listen to the virtual Meeting, ask questions and vote online, all in real time, provided that they are connected to the internet and properly follow the instructions. Instructions on how to virtually attend the Meeting will be provided in the Circular, a copy of which will be filed in advance of the Meeting under the Company's profile on SEDAR at www.sedar.com.

About Zenabis

Zenabis is a significant Canadian licensed cultivator of medical and recreational cannabis. Zenabis employs staff coast-to-coast, across facilities in Atholville, New Brunswick; Langley, British Columbia; and Stellarton, Nova Scotia. Zenabis currently has 111,200 kg of licensed cannabis cultivation space across three licensed facilities in Canada, together with its cannabis import, export and processing joint venture, ZenPharm, operating from Birżebbuġa, Malta.

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]

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