Zenabis Global has slashed the price of its Delta indoor cannabis growing facility as the company moves from a cultivation focus to distribution.
In March, the Vancouver-based and publicly traded company reported its 25,000 square foot indoor facility and office — converted to pot use in 2018 — would be sold. It listed in June for $12.75 million and the price reduced the next month to $11.75 million.
According to the most recent listing from Colliers International, the asking price is now $7.95 million — a 40 percent drop. The company also owns a much larger facility in Langley, as well as cultivation assets in Aldergrove and Pitt Meadows and in New Brunswick and Nova Scotia.
The company stated after releasing its second quarter report that it was trying to transition from primarily cultivation to being distribution focused. “This strategy reduces or eliminates the need for large capital investment, while generating fees and margins with equivalent net returns that are generally available from seed-to-sale operations,” the company stated.
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