By Canadian Vending
By Canadian Vending
Bevo Agro Inc. announced that it had signed an Arrangement Agreement dated October 4, 2018 with Sun Pharm Investments Ltd. for a reverse take-over of Bevo, and announced its intent to change its name to Zenabis Global Inc (“Zenabis”).
Sun Pharm announced that Zenabis has signed a letter of intent with True Buch to develop cannabis infused kombucha. Particularly, under the LOI, Zenabis intends to work with True Buch to develop and distribute cannabis infused cultured tea beverage products. A definitive agreement is expected to be entered into shortly.
True Buch is a Calgary-based, Canadian kombucha company known for their creation of cultured tea beverages. Their line of cultured tea beverages are raw, unpasteurized, gluten free and non-GMO, with over 11 flavours. Zenabis and TrueBuch intend to utilize each other’s expertise to infuse cannabis into True Buch beverages, creating a cultured tea beverage CBD product.
“Zenabis is emerging as one of the largest cannabis producers in the world according to available growing capacity. We are partnering with best-in-class manufacturers in a variety of sectors, and True Buch Kombucha is no exception,” said Rick Brar, CEO of Zenabis in a press release. “By bringing together True Buch’s expertise in cultured tea beverages with Zenabis’ expertise in consumer product development and the science of cannabis, we can offer a high-quality product that taps into growing consumer demand in the beverage category.”
“We firmly believe cannabis infused functional beverages, such as kombucha, are the next progressive step forward in this high growth industry,” said Conrad Ferrel, CEO of True Buch in their press release. “Partnering with Zenabis gives True Buch Kombucha access to the expertise we need to supply the market with high-quality cannabis infused beverages. It’s an exciting time and we couldn’t be more pleased with the opportunity to partner with Zenabis and their amazing team.”
Sun Pharm is currently a privately-held cannabis company which has one of the largest, federally licensed indoor medical cultivation footprints in Canada, operating two licensed production facilities in British Columbia and New Brunswick, with a third expected to be coming online shortly in Nova Scotia.