Zenabis Sees Cannabis Sales Volumes Increase 20% Over Prior Quarter

Zenabis Global (TSX: ZENA) this morning provided a small update on the status of product shipments this morning, indicating that the first shipment to Australia has been completed from its Atholville facility. The shipment was completed on August 28, 2020.

The company is currently expected to have quarterly sales to the country of approximately 100 kilograms, with Zenabis indicating that it has already received permits for the fourth quarter’s shipment as well. Notably, the products are packaged goods, rather than bulk shipments, indicating that the price per gram received in theory should be higher.

Further, on an overall basis Zenabis indicated that it is continuing to see volume growth with roughly 4,700 kilograms of cannabis shipped in the first two months of the quarter. This is a 20% increase over the prior quarter, indicating that the company should be headed towards new volume records, with the company leaving guidance unchanged at $17 to $21 million for the quarter.

Zenabis Global last traded at $0.095 on the TSX.

Information for this briefing was found via Sedar and Zenabis Global Inc. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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