Zenabis MalteseUpdate: Zenabis Maltese JV Partner Zenpharm Gets License for Production & Distribution of Cannabis; Earlier Hexo Detailed US Production Facility in Colorado
07:55 AM EDT, 05/14/2021 (MT Newswires) -- Zenabis Global Inc. (TSX: ZENA) -- which this week obtained shareholder approval for an arrangement with HEXO Corp. -- announced Friday that its Maltese joint venture, ZenPharm Limited, has received its Licence for the Production of Cannabis for Medicinal and Research Purposes issued by the Malta Medicines Authority, as afforded under Chapter 578 of the laws of Malta. The receipt of the Medicinal Cannabis License follows on the earlier European Union Good Manufacturing Practices certification issued by Malta Medicines Authority in January 2021.
According to a statement, the Medicinal Cannabis License is the final license requirement under Malta's regulatory framework allowing for commercial bulk imports into Malta from Zenabis' facility in Atholville and subsequent exports of finished medicinal cannabis products to countries of the European Union and United Kingdom. After closing of the Arrangement plan, HEX O (HEXO.TO and HEXO) and Zenabis' combined product portfolio are expected to gain access to the European market.
Earlier Friday, HEXO announced Purchase and Sale Agreements in relation to its first US production facility, through a wholly owned US subsidiary. The near 50,000 sq. ft. facility, located in Northern Colorado, will provide US CPGs and consumers access to the Powered by HEXO technology.