Launch of Tilray’s Fast-Acting Oral Strips Highlights Commitment to Medical Cannabis Innovation and Patient Care

Rhea-AI Summary

Tilray has announced the launch of Aphria-branded medical cannabis oral strips in Canada, featuring THC and CBD-rich options. Utilizing QuickStrip™ technology, these strips deliver micronized cannabinoids that dissolve quickly, offering a fast-acting and precise dosing method. Available in different ratios, each pack contains 30 individually wrapped strips. The company emphasizes its commitment to patient wellness and innovation in medical cannabis products as it positions itself in a growing market.

Positive

• Launch of medical cannabis oral strips enhances product portfolio.
• QuickStrip™ technology offers rapid absorption and precise dosing, catering to patient needs.
• Strong commitment to patient wellness and innovative products supports market positioning.

Negative

• None.

Aphria Branded Medical Cannabis Oral Strips Powered by QuickStrip™ Innovation Now Available to Patients Throughout Canada

NEW YORK and LEAMINGTON, Ontario, Dec. 02, 2021 (GLOBE NEWSWIRE) -- Tilray, Inc. (“Tilray”) (NASDAQ | TSX: TLRY), a global pioneer in cannabis research, cultivation, production, and distribution, today announced that its medical subsidiary, Aphria, has launched medical cannabis oral strips in THC and CBD-rich varieties. Powered by QuickStrip’s™ proprietary technology, each Aphria medical strip contains a thin, edible film that contains rapidly dissolving, micronized cannabinoids that absorb directly into the bloodstream, providing patients with a fast-acting, convenient, and precise dosing experience for relief from a range of conditions.

Irwin D. Simon, Tilray’s Chairman and Chief Executive Officer, said, “Tilray’s medical brands, Aphria, Symbios, and Tilray, are relentlessly committed to investing in patient wellness through a portfolio of new innovative product offerings, GMP-certified cultivation, and the earned trust of the medical community. The launch of the Aphria-branded medical strips is a compelling proof point in this regard, and, given the growing expansion of medical cannabis across the globe, we believe we are exceptionally well-positioned in this high-growth, high-margin market moving forward. We look forward to extending our leadership in medical cannabis and to delivering value for patients and shareholders alike.”

Blair MacNeil, President at Tilray Canada, added, “At Aphria Medical, our goal is to be the trusted partner for patients by providing them with high-quality, precise, and efficacious medical cannabis treatment. Delivering on this mission means meeting patients ‘where they are,’ including those who are unable or reluctant to swallow medication or do not prefer the taste of cannabis oil. To address this need, Aphria has pioneered a superior, non-combustible, discreet, and easy-to-use method of consumption that utilizes micronized cannabinoids for rapid absorption and relief from a range of conditions.”

The strips, which are now available throughout Canada, are available in three different cannabis ratios: THC 10, CBD 20:1, and THC:CBD 10:10 (coming soon). Each pack of Aphria oral strips comes with 30 individually wrapped strips for precise, single-dose delivery.

About Aphria Medical

Aphria Medical started in 2014 in Leamington, Ontario, as one of the first companies to provide access to legal medical cannabis. Since then, the Aphria brand has grown to be one of the top medical cannabis providers globally, with operations in Canada and international markets. Aphria remains committed to supplying its growing patient base with safe, affordable, consistent, and effective medical cannabis products.

For more information, visit: www.aphria.ca

About Tilray

Tilray, Inc. (Nasdaq: TLRY; TSX: TLRY) is a leading global cannabis-lifestyle and consumer packaged goods company with operations in Canada, the United States, Europe, Australia, and Latin America that is changing people's lives for the better – one person at a time – by inspiring and empowering the worldwide community to live their very best life by providing them with products that meet the needs of their mind, body, and soul and invoke a sense of wellbeing. Tilray’s mission is to be the trusted partner for its patients and consumers by providing them with a cultivated experience and health and wellbeing through high-quality, differentiated brands and innovative products. A pioneer in cannabis research, cultivation, and distribution, Tilray’s unprecedented production platform supports over 20 brands in over 20 countries, including comprehensive cannabis offerings, hemp-based foods, and alcoholic beverages.

For more information about Tilray medical cannabis products, visit: www.Tilray.ca
For more information about Tilray, visit www.Tilray.com

Forward-Looking Statements

Certain statements in this communication that are not historical facts constitute forward-looking information or forward-looking statements (together, “forward-looking statements”) under Canadian securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be subject to the “safe harbor” created by those sections and other applicable laws. Forward-looking statements can be identified by words such as “forecast,” “future,” “should,” “could,” “enable,” “potential,” “contemplate,” “believe,” “anticipate,” “estimate,” “plan,” “expect,” “intend,” “may,” “project,” “will,” “would” and the negative of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Certain material factors, estimates, goals, projections or assumptions were used in drawing the conclusions contained in the forward-looking statements throughout this communication. Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things: the Company’s ability to become the world's leading cannabis-focused consumer branded company with our target of $4 billion of revenue by 2024; the Company’s position and plans to be the #1 Canadian LP in total sales on a consolidated basis; management’s projected growth in market share and revenue in the EU cannabis market and its Sweetwater and Manitoba Harvest businesses; and expectations regarding the Company’s achievement of synergy targets. Many factors could cause actual results, performance or achievement to be materially different from any forward-looking statements, and other risks and uncertainties not presently known to the Company or that the Company deems immaterial could also cause actual results or events to differ materially from those expressed in the forward-looking statements contained herein. For a more detailed discussion of these risks and other factors, see the most recently filed annual information form of Tilray and the Annual Report on Form 10-K (and other periodic reports filed with the SEC) of Tilray made with the SEC and available on EDGAR. The forward-looking statements included in this communication are made as of the date of this communication and the Company does not undertake any obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws.

For media inquiries, please contact: 
Jaydon Case
news@tilray.com

For investor inquiries please contact:
Raphael Gross
203-682-8253
Raphael.Gross@icrinc.com

FAQ

What are Tilray's new Aphria medical cannabis oral strips?

Tilray has launched Aphria-branded medical cannabis oral strips available in THC and CBD-rich varieties, designed for fast absorption and precise dosing.

When were the Aphria medical cannabis oral strips launched?

The Aphria medical cannabis oral strips were launched on December 2, 2021.

What is the purpose of the new Aphria oral strips?

The Aphria oral strips provide a fast-acting, convenient, and precise dosing experience for relief from various medical conditions.

What cannabinoid ratios are available in the Aphria oral strips?

The Aphria oral strips are available in THC 10, CBD 20:1, and an upcoming THC:CBD 10:10 ratio.

Who is the CEO of Tilray?

The CEO of Tilray is Irwin D. Simon.