Zenabis Provides Operations Update for July 2019

Zenabis Provides Operations Update for July 2019 - RICH TV LIVE - AUGUST 28, 2019 - Zenabis Global Inc. (TSX:ZENA) ("Zenabis" or the "Company") is pleased to provide an update on its recent facility construction and licensing activities and its recent cannabis production results.

Highlights:

With construction and licensing at Zenabis Atholville largely complete, Zenabis is now focusing on construction and licensing of Zenabis Langley. Zenabis Langley construction continues to be on track with prior guidance, with Zenabis' total annual cultivation capacity expected to increase to 143,200 kg of dried cannabis on completion of licensing at Zenabis Langley.
With respect to production results:
Cultivation output in July 2019 was 1,238 kg of dried cannabis, which represents a 46.2% outperformance relative to original design capacity (the Performance Ratio1) and a 12.9% outperformance relative to revised design capacity2.
Cultivation output of 1,238 kg of dried cannabis was 2.1% greater than Zenabis' revised forecast output (as updated on August 6, 2019) of 1,212 kg of dried cannabis.
Andrew Grieve, Chief Executive Officer of Zenabis, stated, "Zenabis achieved strong cultivation results again in July. As a result of our cultivation success through June 2019, we revised our design capacity for Zenabis Atholville upwards by 35.0%. I remain extremely pleased with our cultivation team's ability to refine our growing practices maximize yield from existing licensed space. Through to the end of October we expect the variety of cultivation approaches and rapid scale-up of the facility to result in significant room by room variance, after which we expect to achieve steady-state yields for each cultivar at Zenabis Atholville."

1) To better reflect the actual performance of its facilities, the Company reports a Performance Ratio, calculated as follows: after each harvest, Zenabis calculates the dry weight cannabis output for each room (the "Total Output"), taking into account the amount of days in production through a combination of: (1) the amount of flower room days used (including turnaround time) for that room; and (2) the amount of flower-room equivalent days required from other flower rooms in support of that harvest (together the "Effective Flower Room Equivalent Days"). Zenabis then divides the Total Output by the Effective Flower Room Equivalent Days in order to produce the "Effective Yield Per Day" for each room, and then divides the Effective Yield Per Day by the Design Capacity Yield Per Day for each room in order to determine actual performance versus the Design Capacity Yield Per Day (this ratio being the "Performance Ratio"). Zenabis believes that the Performance Ratio will provide investors with the best measure of actual cultivation performance versus Zenabis' published design capacity.

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