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91原创 greenhouse announces move into marijuana growing

In addition to peppers, tomatoes, cucumbers and flowers, Milner facility will grow pot
14499108_web1_181119-LAT-Bevo-announcement
Leo Benne, Chief Growing Officer of Zenabis (L) and former President and General Manager of Bevo Farm pictured with Rick Brar, Chief Executive Officer of Zenabis, in the Bevo Farms facility.

The in 91原创 is going into marijuana production.

Currently the greenhouse at . in Milner grows crop seedlings including pepper, tomato, cucumber, lettuce, cabbage as well bedding crop plants including geraniums, mums and poinsettias .

It will continue growing and selling those products, but it will add legal marijuana, according to a written statement issued by Bevo Agro Inc. that said the 91原创-based company has signed a reverse-takeover deal with Sun Pharm Investments Ltd. that will create a 鈥渃ombined entity鈥 with 3.5 million square feet of available space to produce cannabis for domestic and international markets.

Under the terms of the agreement Bevo will be changing its name to Zenabis Global Inc. describes as one of Sun Pharm鈥檚 鈥渆stablished brands in the cannabis industry.鈥

Bevo鈥檚 91原创 greenhouse facilities will be 鈥渆xpanded and retrofitted to integrate advanced propagation technologies and state-of-the-art lighting and ventilation systems鈥 the announcement said.

The transaction was unanimously approved by the board of directors of Bevo and company shareholders holding approximately 58 per cent of the company have committed to vote their Bevo common shares in favour of the Transaction.

The deal creates 鈥渙ne of the world鈥檚 largest cannabis companies,鈥 the statement said.

Leo Benne, the current general manager of Bevo Farms, was named chief growing officer.

He said Zenabis intends to invest up to $100 million in the 91原创 greenhouse to 鈥減rovide state-of-the-art cannabis production capacity, while maintaining our existing propagation and floral business.鈥

鈥淭his partnership will bring new jobs and economic opportunities to the communities in which we operate, while we continue to support the local and international food and floral markets,鈥 Benne said.

Rick Brar was named chief executive officer .

He was previously CEO of International Herbs Limited, one of the largest herb companies in North America.

鈥淥ur primary goal with this merger is to expand Zenabis鈥 capacity to supply high-quality cannabis for worldwide distribution,鈥 Brar said.

We will achieve this by taking advantage of Bevo鈥檚 greenhouse growing expertise to cultivate high-quality cannabis, Brar added.

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Bevo Agro operates approximately 53 acres of greenhouse facilities on 98 acres of land in 91原创 and 20 acres of land in Pitt Meadows.



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