Zenabis cannabis shipments surge by 20% in the last two months

A Zenabis staffer works in the firm’s extraction lab. (Photo via Instagram)

Vancouver-based Zenabis Global says it cannabis shipments are continuing to grow, climbing 20 percent for the first two months of this quarter compared to the full quarter before.

Zenabis, which has a substantial operations in Langley, B.C., said it shipped about 4,700 kilograms of cannabis, and it expects cannabis revenue in its third quarter will exceed its second quarter revenue by 50 per cent.

In its August update, Zenabis also said that it had advanced a deal with a Malta-based partner, inking a definitive supply agreement for the supply of dried flowers in the the European Union.

While Zenabis has expanded the hours of operation for its operations in New Brunswick, it said that production in Langley remains in a “steady state” for the summer.

Shai Altman, who became Zenabis’ CEO on Sept. 1, said “Zenabis continues to show positive progress.”

Shares for Zenabis, a $61.95-million company by market cap, traded up 11% at 11:31 Tuesday, Sept. 15, rising $0.01 to $0.10, well off of it’s 52-week high of $1.09