ZBISF - Zenabis Global to sell its Delta facility for $6.65M

Zenabis Global (ZBISF) says it has entered into a conditional agreement for the sale of its facility in Delta, British Columbia. The agreement is limited to the sale of land and buildings only which is to provide a gross proceed of $6.65M, subject to completion of specific conditions."Now that the Company has reached a commercial deal encompassing only the land and building of the site, we will start the process of redeploying the state-of-the-art analytical testing equipment located in the Delta facility to Zenabis Atholville.  Once completed, this will enable the Company to fulfill a significant amount of its testing requirements in-house, allowing the Company to realize substantial cost savings and reduce testing lead times, versus its currently out-sourced testing arrangements," says Zenabis CEO Shai Altman. The transaction is expected to close by the end of this year.Previously: Zenabis Global reports Q3 results (Nov. 13)

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Zenabis Global to sell its Delta facility for $6.65M