Company to Host Virtual Investor Day Zenabis preliminary financial results for its third quarter ending September 30, 2020 (“Q3 2020”) anticipated to be over $21 million. The Company anticipates growth in net cannabis revenue of 78% in the third quarter of 2020 versus the second quarter of 2020, which is expected to result in consolidated Adjusted EBITDA of over $6 million for the quarter.
Daniel Burns, Chair of Zenabis, added, “Through a combination of significant volume increases with provincial counterparties, increased cash-pay bulk agreements in Canada, and increases in volume exported internationally, Zenabis has delivered significant volume growth in cannabis shipment volumes in the third quarter of 2020.” These cannabis shipment volumes remain consistent with guidance for net cannabis revenue of over $21 million for the third quarter of 2020.
Zenabis will provide Q4 2020 and Fiscal 2021 revenue and adjusted EBITDA guidance next week when it plans to host an Investor and Analyst Day. This guidance will boost outlooks for 2020 and 2021.The virtual event will include presentations by Shai Altman, CEO, Eric Rasmussen, CFO, Olen Vanderleeden, SVP, and Leo Benne, Chief Growing Officer. They will provide updates on each of the Company’s operating divisions. The event will conclude with a Q&A session. The event will be webcast live and all interested parties are invited to join by registering in advance, details to follow.