Zenabis Provides Guidance for Q2, 2020 Results, Anticipating Revenues of $28.1M to $30.8M
VANCOUVER, BC, July 14, 2020 /CNW/ - Zenabis Global (“Zenabis” or the “Company”) (TSX: ZENA), is pleased to provide guidance on second quarter results for the three-month period ending June 30, 2020. Based on preliminary results, the Company anticipates revenues for the three-month period ending June 30, 2020 to be between $28.1 million and $30.8 million. Management believes that continued revenue growth and disciplined cost management initiatives will allow the Company to grow positive cash flows from operations in fiscal 2020.
Full second quarter results will be published on August 10, 2020, followed by a conference call the next morning, details for which can be found at the end of this release.
The preliminary estimated financial results and other data for the quarter ended June 30, 2020 set forth above are subject to the completion of the Company's financial closing procedures. These preliminary estimated financial results have been prepared by and are the responsibility of the Company's management. The Company's independent registered public accounting firm reviewed the preliminary results but did not audit or express an opinion on them. The Company currently expects that its final results of operations and other data will be consistent with the estimates set forth above, but such estimates are preliminary and the Company's actual results of operations and other data could differ materially from these estimates due to the completion of its financial closing procedures, final adjustments and other developments that may arise between now and the time such consolidated financial statements for the period ended June 30, 2020 are issued.
Second Quarter 2020 Results Conference Call
Zenabis will release the results for its second quarter on August 10, 2020. A conference call to discuss the results for its second quarter will be scheduled for August 11, 2020, pre-market. The conference call will be hosted that day at 9:00 a.m. Eastern Time by Kevin Coft, interim Chief Executive Officer, and Eric Rasmussen, Chief Financial Officer, followed by a question and answer period.
DATE: August 11, 2020
TIME: 9:00 a.m. Eastern Time
Dial in # to be posted at Zenabis Global Inc. website later this week.
About Zenabis Global Inc.
Zenabis is a significant Canadian licensed cultivator of medical and recreational cannabis, and a propagator and cultivator of floral and vegetable products. Zenabis employs staff coast-to-coast, across facilities in Atholville, New Brunswick; Aldergrove, Pitt Meadows and Langley, British Columbia; and Stellarton, Nova Scotia. Zenabis currently has 111,200 kg of licensed cannabis cultivation space across four licensed facilities. Zenabis has 3.5 million square feet of total facility space dedicated to a mix of cannabis production and cultivation and its propagation and floral business.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company's future business plans and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include statements relating to Zenabis financial results for the quarter ended June 30, 2020. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are urged to consider these factors carefully in evaluating the forward-looking statements contained in this news release and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements. These forward-looking statements are made as of the date hereof and the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
SOURCE Zenabis Global Inc.
For further information: Media Relations, Email: media@zenabis.com, Phone: 1-855-936-2247; Investor Relations, E-mail: invest@zenabis.com, Phone: 1-855-936-2247
Related Links
www.zenabis.com
