09:24 AM EDT, 08/16/2024 (MT Newswires) -- Cannara Biotech ( LOVFF ) , a cannabis producer, on Friday said it achieved a 3.2% national market share in July, the company's highest ever, which makes it the ninth largest licensed producer in Canada by that measure.

"We are thrilled to report that July 2024 marks a significant milestone for Cannara, with our highest monthly national retail sales in the company's history, including an approximate 11.8% market share in Quebec," said CFO Nicholas Sosiak.

Cannara operates two large facilities in Quebec that span over 1.65 million square feet.

The shares rose 11% on Wednesday to close at $0.70.