Zenabis Global's JV To Launch Operations In Malta
Zenabis Global Inc.'s (TSX:ZENA) Maltese joint venture, ZenPharm Limited, was given the green light to produce cannabis for medicinal and research purposes in the Mediterranean island country.
The license issued by the Malta Medicines Authority comes on the heels of receipt of the European Union Good Manufacturing Practices certification, which was issued by the same regulatory body in February.
The Canadian cannabis producer is now set to import in bulk from its facility in Atholville.
ZenPharm already inked a supply deal with a customer in Germany to provide a minimum volume of 500 kg per year.
In addition, ZenPharm agreed to accept shipments of up to 300kg from the Atholville-based facility through year-end.
Simultaneously, the Vancouver-based company can also export finished medicinal cannabis products to countries in the European Union and the United Kingdom, with Germany as its most prominent target market.
Zenabis expects to debut in the Polish market as well by the end of the first quarter of 2022.
Shai Altman, CEO of Zenabis, said that this license "builds on the dedicated hard work of our Zenabis employees and of our partners at ZenPharm in achieving EU-GMP certification – a journey that we as a company embarked upon solely in anticipation of this moment. I would like to congratulate ZenPharm management and employees for achieving this incredible milestone."
In addition, following the finalization of the recently announced $235 million acquisition of Zenabis Global by HEXO Corp. (TSX:HEXO) (NYSE:HEXO), the combined portfolio of products is expected to debut in Europe.
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