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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.
Tilray, Inc. announced that a majority of stockholders approved an increase in authorized shares of common stock. This decision supports the company’s goal to drive growth post-merger with Aphria, focusing on expanding its international medical business and increasing market share in Canada from 16% to 30% by 2024. Tilray aims to achieve $4 billion in revenue by then, leveraging its strong operational scale and geographic footprint. The company also plans to capitalize on opportunities in the $80 billion U.S. cannabis market following federal legalization.
Tilray, a leading global cannabis company, announced participation in the Barclays Global Consumer Staples Conference on September 10, 2021, at 10:00 a.m. ET. CEO Irwin D Simon and CFO Carl Merton will represent the company, which aims to enhance wellbeing through its innovative cannabis and consumer products. The live audio webcast will be available on Tilray's Investor Relations website, with an archived replay following the event.
Tilray operates in multiple regions, including Canada, the United States, Europe, Australia, and Latin America.
SweetWater Brewing Company has launched a new Non-Dairy Almond Milk Stout, a modern take on traditional stouts designed to attract today's consumers. This innovative brew offers a smooth stout experience with a hint of almond sweetness and rich aromas of coffee and chocolate while being plant-based. With an ABV of 5.4%, the stout will be available in limited 6-pack and seasonal variety pack 12oz cans starting August 31 and is part of SweetWater's seasonal lineup. The product reflects SweetWater's commitment to innovation and high-quality brewing.
High Tide Inc. has successfully converted all outstanding META Convertible Debentures into common shares, significantly reducing its total debt from approximately $71 million to $28.4 million, with $10.8 million being non-interest bearing. The company reported that total debt maturities for the next 12 months are $1.6 million. This move is part of High Tide's strategy to strengthen its balance sheet while expanding its e-commerce presence in the U.S. market. CEO Raj Grover emphasized growth in revenues and cash reserves since acquiring META in November 2020.
Tilray emphasizes the necessity for shareholder backing before the Special Stockholders Meeting on
Tilray convened and adjourned the Special Meeting of Stockholders to approve two proposals: increasing authorized shares and governance enhancements. The meeting is postponed to September 10, 2021. Preliminary votes indicate majority support for both proposals. This adjournment allows further solicitation of proxies and time for shareholders to consider key information related to a strategic investment in MedMen convertible notes. Tilray’s CEO urges stockholders to vote in favor to enhance growth opportunities and drive shareholder value.
Tilray (Nasdaq: TLRY) has acquired the majority of MedMen's senior secured convertible notes from Gotham Green Partners. This acquisition positions Tilray for equity in MedMen, contingent on U.S. cannabis legalization. MedMen extended its debt maturity to 2028 to aid growth. With this deal, Tilray aims for $4 billion in revenue by fiscal 2024, leveraging MedMen's strong U.S. presence in the cannabis market. The transaction involves approximately $165.8 million in notes and warrants, convertible into 21% of MedMen’s shares, pending stockholder approval to increase authorized shares.
Tilray, a leader in medical cannabis, has launched new THC and CBD-rich edibles, including chocolates and soft chew gummies, available for patients across Canada. The products aim to meet the growing demand for diverse cannabis options for pain management and anxiety treatment. The new offerings include chocolate bars with specific THC and CBD levels, and soft chews tailored to patient preferences. Tilray's CEO emphasizes the commitment to innovation for patient wellbeing as cannabis regulations evolve globally.
Tilray, a leading global cannabis company, convened and adjourned its Special Meeting of Stockholders intended to approve two key proposals: an increase of authorized common shares and governance enhancements. The meeting has been rescheduled to August 19, 2021. Preliminary votes indicate strong support for both proposals, which are crucial for Tilray’s strategy to enhance market share and strengthen shareholder rights. Stockholders are encouraged to vote promptly to contribute to Tilray's growth and value creation endeavors.
Tilray reported strong financial results for the fourth quarter and full fiscal year ending May 31, 2021. Net revenue surged 25% to $142.2 million in Q4, driven by a 36% increase in cannabis revenue. The company achieved significant cost synergies of $35 million with a target of $80 million in the next 16 months. Adjusted EBITDA soared 285% in Q4, marking the ninth consecutive quarter of positive performance. However, the net loss widened to $336 million for the fiscal year, impacted by transaction costs and unrealized losses. Strong cash reserves of $488.5 million bolster the company's growth strategy.
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