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January 29, 2019

Zenabis Global Inc. has completed the acquisition of 51% of Hillsboro Corp Inc., a Canadian cultured tea beverage company known for its True Buch Kombucha. Zenabis and True Buch intend to utilize each other's expertise to infuse cannabis into True Buch beverages, creating a cultured tea beverage CBD product.

True Buch is a kombucha company with expertise in the creation of cultured tea beverages, that are raw, unpasteurized, gluten-free and non-GMO.

This acquisition is ahead of edible legalization in Canada, which is expected to occur in late 2019. Zenabis is excited to be entering the cannabis-infused beverage market, which is forecasted to be a $600 million-dollar industry in the next four years (Business Insider, Oct 1, 2018).

Even prior to cannabis legalization, Kombucha has been a natural and healthy alternative to sugary drinks for Canadians. Kombucha sales in Canada have grown exponentially, reaching $1.4 billion in 2016, and forecasting to reach $1.6 billion by 2021 (Euromonitor International, May 28, 2018).