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TORONTO, Aug. 12, 2020 /CNW/ -Zenabis Global Inc. (TSX:ZENA) ("Zenabis" or the "Company") has announced entering into a one year supply agreement for high-quality cannabis flower with Canveda Inc. ("Canveda"), a wholly-owned subsidiary of MPX International Corporation ("MPX International", or "MPXI") ), a multinational diversified cannabis company.
The supply agreement between the parties provides Canveda with a minimum of 300 kg of cannabis flower per calendar quarter, and a maximum of 1,000 kg of cannabis flower per quarter. The first shipment from Zenabis Atholville of 100 kg will be made upon receipt of an export permit from Health Canada. All the required import permits from Israel have been issued to Canveda. These volumes were not included in Zenabis' estimate of international shipment volumes in the corporate update issued 10 August 2020, and as such are incremental volumes.
"MPX International Corporation is pleased to be able to count on Zenabis Ltd for a continued supply of premium Canadian cannabis as we develop different market opportunities" says Michael Arnkvarn, COO of MPXI Canadian Operations; "Zenabis has demonstrated their ability to be very pro-active and responsive to our requests."
Daniel Burns, Chair of the Board of Directors, commented, "We are excited to continue expanding our supply relationships beyond Canada. This incremental supply agreement, and in particular the binding delivery minimums, further demonstrate both the quality of our cannabis cultivation output, and our capacity for international bulk delivery."
About MPX International Corporation
MPX International Corporation is a multinational diversified cannabis company focused on developing and operating assets across the international cannabis industry with an emphasis on cultivating, manufacturing and marketing products which include cannabinoids as their primary active ingredient. With current operations spanning four continents in Canada, Switzerland, South Africa, Malta and Australia as well as evolving partnership and distribution opportunities in other jurisdictions, MPXI continues to position itself as an emergent global participant in the cannabis industry.
Posted In: TSX:ZENA
