Chief Executive from Zenabis announced that Health Canada approved a second cultivation license to cultivate hemp for cannabidiol (CBD). Andrew Grieve, Chief Executive Officer of Zenabis said “This license enables the commencement of hemp cultivation and hemp-derived CBD production, and also the testing of our vertical farming system at Zenabis Langley for the cultivation of hemp. This vertical farming system is intended to be used for the production of cannabis upon receipt of the Zenabis Langley cannabis cultivation license. The hemp-derived CBD market is expected to grow exponentially over the next three years. Through this addition, among other strategic hemp-focused initiatives, we are positioning Zenabis to participate in the hemp-derived CBD industry in both Canada and the United States.”
Zenabis will be able to grow hemp in the empty lands from other crops without interfering their current batch and cultivation plans. In fact, this update will boost its capacity to 34,300 kg of cannabis.
The cultivation of industrial hemp has been regulated since 1998 in Canada. It is currently managed by Health Canada under the Cannabis Act. The Industrial Hemp Regulations. Also, The Canadian Food Inspection Agency which regulates matters related to the import, production and use of plants and its disposal. These laws apply to cannabis, cannabis products and by products, industrial hemp.
Zenabis is an important Canadian licensed cannabis producer for medical and recreational cannabis. They also grow floral and vegetable products. They have a big number of staff, employing people from coast to coast, they have multiple facilities across Canada. Zenabis posses 3.5 million square feet facility space, accomodated with high quality and advanced growing technology.
Zenabis expects the facilities to have an annual yield of 131,300 kg of dried cannabis by the third quarter of 2019. Another 700,000 square fit will be used to grow hemp, this space can be use in a strategic moment to grow more cannabis to improve the company’s status in the market.