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Tilray Brands, Inc. (NASDAQ: TLRY) is a pioneering company in the field of medical and recreational cannabis production and research. Headquartered in Canada, Tilray has positioned itself as a global leader with a commitment to providing safe, consistent, and reliable therapy to patients and consumers worldwide. The company operates in multiple regions, including Canada, the United States, Europe, Australia, and Latin America, serving a diverse clientele ranging from patients and physicians to pharmacies, hospitals, and governments.
In 2021, Tilray underwent a significant transformation when legacy Aphria acquired legacy Tilray through a reverse merger, consolidating their strengths under the name Tilray Brands, Inc. This strategic merger expanded Tilray's market reach and product portfolio, bolstering its position in both the medical cannabis export market and the recreational cannabis sector.
Tilray's core offerings include a comprehensive range of cannabis products, from medical cannabis treatments to CBD products and alcoholic beverages. One of its latest ventures is the Ridge Runner West Coast IPA, a craft beer that has gained popularity for its complex flavors and craftsmanship. Additionally, Tilray's subsidiary, Widmer Brothers Brewing, recently launched a new Hefe Variety 12 Pack, showcasing innovative wheat beer styles.
The company is also making strides in the cannabis beverage market with the introduction of XMG Zero and XMG+ beverages. These products offer a variety of THC and CBG ratios, bringing unique flavors and high-quality ingredients to consumers across Canada.
Tilray's commitment to innovation extends beyond beverages. Solei, one of its wellness brands, has introduced the Warming Deep Tissue Stick, a cannabis-infused topical solution designed for active lifestyle enthusiasts. Meanwhile, Good Supply has released the Twisted All-in-One rechargeable vape, offering a potent and flavorful vaping experience.
Overall, Tilray Brands, Inc. continues to lead the way in cannabis research, cultivation, and distribution, with a diversified portfolio that caters to the needs of a global community. The company remains dedicated to enhancing the lives of its consumers through high-quality, innovative products that inspire well-being.
Montauk Brewing Company expands its presence at Citi Field, home of the New York Mets, by opening two new branded bars at the K Korner and Field Level. This expansion, featuring signature craft beers like Wave Chaser IPA and Montauk Summer Ale, aims to enhance the game day experience for fans. President of U.S. Beer at Tilray Brands, Ty Gilmore, expressed enthusiasm about this collaboration with the iconic venue. Montauk Brewing's products are already popular among Mets fans and are now available at 3,500 retail locations and major venues like Madison Square Garden. This move supports Montauk Brewing's reputation as the fastest-selling craft brewer in Metro New York, according to Nielsen data.
Montauk Brewing Company has announced its new limited release craft brew, PROJECT 4:20, aimed at celebrating Earth Month and supporting local green charities. Set to launch on April 20, 2023, this juicy IPA will be available in 6-packs at retailers in metro New York, Long Island, and northern New Jersey.
A portion of the sales proceeds will benefit Grow NYC and Concerned Citizens of Montauk, organizations focused on food access and environmental sustainability. Montauk Brewing’s founder, Vaughan Cutillo, expressed pride in this initiative, emphasizing the company’s commitment to the ocean and local communities. The craft beer brand is recognized as the #1 craft brewer in Metro New York, a subsidiary of Tilray Brands (Nasdaq: TLRY). For more details, visit MontaukBrewingCo.com.
The global cannabis pharmaceuticals market is projected to reach USD 127.1 billion by 2028, expanding at a CAGR of 104.2% from 2022. The COVID-19 pandemic has increased cannabis product consumption, notably in treating chronic illnesses like cancer and Parkinson's disease. Legalization in various countries bolsters market growth, with many regions recognizing medical cannabis as essential. Major players include Tilray (NASDAQ: TLRY) and Jazz Pharmaceuticals (NASDAQ: JAZZ), with significant partnerships, such as Brains Bioceutical's agreement with Prati-Donaduzzi for CBD supply in Brazil. Trulieve and Curaleaf are also expanding their market presence. Despite challenges, the cannabis pharmaceuticals sector is set for considerable expansion, driven by increasing demand and supportive legislation.
Tilray Brands reported net revenue of $145.6 million for Q3 2023, marking a slight increase from $144.1 million in the previous quarter. The company achieved its 16th consecutive quarter of positive adjusted EBITDA at $14.0 million. A significant acquisition of HEXO Corp. for $56 million is set to enhance Tilray's market position in Canada, which is the largest federally legal cannabis market globally. Tilray maintains a 12.9% pro-forma market share and aims to bolster its high-growth potential in the U.S. consumer packaged goods and craft-beverage sector. The company emphasizes its commitment to operational efficiency and cash flow positivity. Despite a $1.1 billion non-cash asset reduction due to market conditions, it reassures investors of its strong cash position of $408.3 million.
Tilray Brands (Nasdaq: TLRY) has expanded its presence in Europe through a new partnership with Cansativa Group, enhancing the distribution of EU-GMP certified medical cannabis in the Czech Republic. This strategic alliance aims to improve the access of medicinal cannabis products for patients in pharmacies and hospitals. Denise Faltischek, Chief Strategy Officer, expressed pride in this initiative, highlighting their commitment to patient advocacy and quality products. Tilray Medical, a leading global provider of medical cannabis, operates in over 20 countries, ensuring safe access to a diverse portfolio of cannabis brands. This development marks a significant step in advancing Tilray’s mission to support medical cannabis patients worldwide.
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