Zenabis Global Inc (CVE:ZENA) (OTCMKTS:ZBISF) (FRA:2VV) CEO Andrew Grieve shares details of the company’s letter of engagement with Eight Capital. Under the terms of the deal, Eight Capital agrees to purchase 15,000 unsecured convertible debentures, guaranteeing Zenabis $15 million in capital. Eight Capital has also agreed to offer for sale an additional 60,000 convertible debentures, to bring the total financing to $75 million. Grieve indicates the proceeds from the convertible debentures will be used to continue the conversion of four production facilities across the country. Zenabis entered the Alberta recreational market in February when it signed a supply agreement with the AGLC. Zenabis products will be available in the Quebec market in Q2, as the company signed a supply agreement in February with the SQDC. Zenabis now has supply agreements with 9 provinces and territories and recently inked a supply agreement with retail behemoth Shoppers Drug Mart.
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