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Zenabis Global Inc
Symbol ZENA
Shares Issued 799,983,791
Close 2021-02-09 C$ 0.19
Recent Sedar Documents

Zenabis creates $15M at-the-market equity program

2021-02-09 22:17 ET - News Release

An anonymous director reports

ZENABIS ANNOUNCES THE ESTABLISHMENT OF AN AT-THE-MARKET EQUITY OFFERING PROGRAM

Zenabis Global Inc. has established an at-the-market equity program (the ATM program) that allows the company to issue up to $15-million of common shares in the capital of the company from treasury to the public from time to time at the company's discretion. Any common shares sold through the ATM program will be sold through the Toronto Stock Exchange or any other marketplace on which the common shares are listed, quoted or otherwise traded, at the prevailing market price at the time of sale.

Distributions of the common shares through the ATM program will be made pursuant to the terms of an equity distribution agreement dated Feb. 9, 2021, between the company and Echelon Wealth Partners Inc.

The volume and timing of distributions under the ATM program, if any, will be determined in the company's sole discretion. The ATM program will be effective until the earlier of the issuance and sale of all of the common shares issuable pursuant to the ATM program and May 10, 2021, unless terminated prior to such date by the company or the agent. As common shares sold in the ATM program will be issued and sold at the prevailing market price at the time of the sale, prices may vary among purchasers during the period of the distribution. The company expects to use the net proceeds from the ATM program for general corporate purposes and working capital needs.

The offering under the ATM program will be made pursuant to a prospectus supplement dated Feb. 9, 2021, to the company's amended and restated final base-shelf prospectus dated Dec. 9, 2020, filed with the securities commissions in each of the provinces of Canada except Quebec and the company's final base-shelf prospectus dated Dec. 9, 2020, filed with the Autorite des marches financiers in Quebec. The prospectus supplement and the base-shelf prospectus are available on the SEDAR website maintained by the Canadian Securities Administrators.

Alternatively, the agent will send copies of the prospectus supplement and the base-shelf prospectus, as applicable, upon request to Echelon Wealth Partners, 1 Adelaide St. East, Suite 2100, Toronto, Ont., M5C 2V9, by telephone at 647-484-8285 or by e-mail at ecm@echelonpartners.com.

About Zenabis Global Inc.

Zenabis is a significant Canadian licensed cultivator of medical and recreational cannabis. Zenabis employs staff coast to coast across facilities in Atholville, N.B.; Langley, B.C.; and Stellarton, N.S. Zenabis currently has 111,200 kilograms of licensed cannabis cultivation space across three licensed facilities in Canada, together with its cannabis import, export and processing joint venture, ZenPharm, operating from Birzebbuga, Malta.

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