Zenabis
Zenabis was a Canadian producer of medical and recreational cannabis.
Last updated August 26, 2026
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Overview
Zenabis was a Canadian cannabis company focused on the cultivation and sale of medical and recreational marijuana. The business began under the name International Herbs Medical Marijuana Ltd. and was co-founded by Monty Sikka and Mark Catroppa. Its early development centered on establishing licensed cultivation capacity in Canada, including the purchase of its first facility in New Brunswick in 2014. The company entered the regulated Canadian cannabis industry as the federal licensing framework developed. Health Canada granted Zenabis a cultivation licence in 2017, followed by authorization to sell dried cannabis in 2018. In March 2019, it received a licence to sell cannabis oil, expanding its permitted product scope beyond dried flower. These approvals positioned the company to serve both the medical cannabis market and the emerging adult-use recreational market in Canada. Zenabis changed its corporate structure and scale in 2019. In January of that year, its parent company, Sun Pharm, completed a reverse takeover of Bevo Agro Inc. The transaction brought the businesses under the Zenabis Global Inc. banner and resulted in the company becoming publicly traded on the Toronto Stock Exchange under the ticker ZENA. The combination was intended to unite cannabis operations with agricultural production and provide a public-market platform for expansion. Like many Canadian cannabis businesses, Zenabis faced difficult capital-market conditions after legalization of recreational cannabis. The company’s shares struggled amid broader weakness affecting publicly traded marijuana producers. The available reference material does not provide detailed operating or financial results, but it records that Zenabis encountered stock-market difficulties as the sector matured. Zenabis ultimately ceased to operate as an independent public company when HEXO Corp. acquired it in 2021 through an all-stock transaction. As a result, Zenabis is best understood as a former Canadian cannabis corporate brand and producer rather than an active standalone company. The source material identifies its principal activities as cannabis cultivation and the sale of dried cannabis and cannabis oil, but does not establish a detailed current brand portfolio, retail footprint, or post-acquisition product architecture.
History
Zenabis originated as International Herbs Medical Marijuana Ltd., a Canadian medical cannabis venture co-founded by Monty Sikka and Mark Catroppa. Its initial development took place during the expansion of Canada's regulated medical-marijuana sector. In 2014, the company purchased its first facility in New Brunswick, establishing a physical base for cultivation and future licensing activities. The company progressed through the federal authorization system administered by Health Canada. It received a cultivation licence in 2017, allowing it to produce cannabis under Canada's regulated framework. In 2018, it obtained a sales licence for dried marijuana. This was an important commercial step because it moved the business beyond cultivation capacity and enabled the sale of dried cannabis to authorized markets. In March 2019, Zenabis received permission to sell cannabis oil, adding an oil-based product category to its licensed activities. Zenabis also underwent a significant corporate reorganization in 2019. In January, its parent company, Sun Pharm, completed a reverse takeover of Bevo Agro Inc. Following the transaction, the two businesses operated under the Zenabis Global Inc. banner. The transaction provided Zenabis with a public-company structure, and the company traded on the Toronto Stock Exchange under the symbol ZENA. The business operated during a challenging period for Canadian cannabis companies. Following the legalization of recreational cannabis, many publicly traded producers experienced pressure in the stock market, and the available reference material specifically notes that Zenabis struggled on the market. The supplied sources do not provide enough information to describe its revenue, production volumes, individual consumer brands, retail distribution, or detailed financial performance without speculation. Zenabis's independent corporate history ended in 2021, when HEXO Corp. acquired the company in an all-stock deal. The acquisition removed Zenabis from the market as a standalone public company. Accordingly, Zenabis is now a historical Canadian cannabis producer whose documented business covered cultivation and federally authorized sales of dried cannabis and cannabis oil for medical and recreational markets.
- 2021
Acquired by HEXO
[1]HEXO Corp. acquired Zenabis through an all-stock transaction.
- 2019
Reverse takeover and public listing
[1]Sun Pharm completed its reverse takeover of Bevo Agro, after which the combined businesses operated under the Zenabis Global Inc. name and traded on the Toronto Stock Exchange as ZENA.
- 2019
Cannabis-oil sales authorized
[1]Health Canada authorized Zenabis to sell cannabis oil in March.
- 2018
Dried-cannabis sales licence granted
[1]Zenabis received authorization from Health Canada to sell dried marijuana.
- 2017
Cultivation licence granted
[1]Health Canada granted Zenabis a licence to cultivate cannabis.
- 2014
First New Brunswick facility acquired
[1]Zenabis purchased its first facility in New Brunswick as the foundation for its cultivation operations.
Products and positioning
A Canadian licensed cannabis producer serving medical and recreational markets, with operations built around regulated cultivation and federally authorized cannabis sales.
Cannabis · 2018
Dried cannabis
Dried cannabis was Zenabis's principal documented saleable cannabis format. The company received Health Canada authorization to sell dried marijuana in 2018 after obtaining its cultivation licence, making dried flower the clearest link between its production facilities and regulated medical and recreational markets.
Cannabis extracts · 2019
Cannabis oil
Cannabis oil was an additional regulated product category authorized for Zenabis in March 2019. The available source confirms the sales licence but does not identify specific formulations, consumer sub-brands, cannabinoid ratios, or packaging formats.
Brand decisions
2021
Accepted acquisition by HEXO Corp.M&ABackground
Zenabis operated in a difficult public-market environment for Canadian cannabis producers.
Action taken
HEXO Corp. acquired Zenabis through an all-stock transaction.
Aftermath
Zenabis ceased to operate as an independent publicly traded company and became part of HEXO Corp.
2019
Adopted the Zenabis Global corporate structure after a reverse takeoverM&ABackground
Sun Pharm completed a reverse takeover of Bevo Agro Inc. while Zenabis was expanding its regulated cannabis operations and seeking a public-market structure.
Action taken
The businesses began operating under the Zenabis Global Inc. banner, and Zenabis became publicly traded on the Toronto Stock Exchange under the symbol ZENA.
Aftermath
The transaction established Zenabis as a public cannabis company, although the available material does not provide detailed post-transaction operating or financial results.
Recent events
Reported
BOHECO confirms alliance with Zenabis[2]
Bombay Hemp Company (BOHECO) confirmed an alliance with Zenabis, describing the Canadian collaboration as supporting its global-market ambitions and development of holistic wellness offerings in India.
Reported
Zenabis announces second-quarter 2020 financial results[3]
Zenabis Global Inc. announced its financial results for the second quarter ended June 30, 2020, reporting consolidated net revenue of C$27.4 million and an adjusted EBITDA of C$3.1 million.
Sources3 sources
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