NewDeal

NewDeal

Sun Pharm and Bevo Arrangement: Snapshot

• Utilization of Bevo facilities to produce high-quality, low-cost cannabis
• Will become the third-largest licensed producer in Canada following completion of transaction
• Propagation business will continue to serve existing customers
• All current Bevo employees will keep their jobs, and we expect to add approximately 100 new local jobs
• Bevo is committed to the local community and will be engaging with community members as our greenhouse facilities are converted to cannabis production.

Bevo has entered into a plan of arrangement with Sun Pharm to effect a reverse takeover of the Bevo business, becoming Zenabis. Zenabis is a cannabis producer licensed under Health Canada. After completion of the plan of arrangement, Zenabis will utilize Bevo’s greenhouse facilities to become the lowest-cost producer in the country. Learn more here.

The combined business will continue to operate Bevo’s existing propagation business. Bevo remains committed to providing best-in-class propagation services to its customers throughout North America – constructing and acquiring new greenhouse space as needed to service existing clients. Bevo currently has 53 acres in production at its existing Langley property and is exploring expansion opportunities locally.

Bevo management and employees will remain employed at the facilities to run existing and new operations. Furthermore, Bevo estimates the combined business will generate approximately 100 new jobs in Langley.

Any questions or concerns? Please contact us.