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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 invites stockholders to its Annual Meeting on November 22, 2021, at 11:00 a.m. EST, to be held virtually due to the ongoing COVID-19 pandemic. The record date for eligible stockholders was September 24, 2021. All shareholders are encouraged to vote and submit proxies if they have not done so. For those attending, a control number is required to join and participate in discussions and voting during the meeting. Tilray, operational in over 20 countries, is a leading cannabis and consumer goods company dedicated to enhancing the well-being of its consumers.
Tilray, a leader in cannabis research and production, has announced its participation in two significant investor conferences organized by Jefferies. The events are scheduled for:
- November 16, 2021, at the Jefferies Virtual West Coast Consumer Conference, starting at 2:00 PM ET.
- November 17, 2021, at the Jefferies London Healthcare Conference, beginning at 11:20 AM ET.
Investors can find more details in the Investors section of Tilray's website.
Tilray has launched SweetWater RIFF, an exclusive ready-to-drink cocktail in a can, marking SweetWater's entry into the spirits category. The new product features two flavors: SweetWater RIFF Citrus and SweetWater RIFF Strawberry Mule, both crafted with vodka and real fruit juices. Each drink contains only 105 calories and is being rolled out in select U.S. grocery and liquor stores. This collaboration showcases the innovative spirit of both SweetWater and RIFF, aiming to provide a premium alternative to traditional cocktails.
Tilray, a leader in medical cannabis, has been designated as a trusted supplier of GMP-certified cannabis to the Luxembourg Ministry of Health. This selection allows Tilray to offer various pharmaceutical-grade products in Luxembourg, enhancing patient access under physician supervision. CEO Irwin D. Simon highlighted a potential $1 billion growth opportunity in the European market. With this announcement, Tilray now provides medical cannabis in 20 countries globally, underscoring its commitment to high-quality standards and expanding its global footprint.
Tilray, a leading global cannabis-lifestyle company, has entered a national brokerage agreement with Great North Distributors, enhancing its market presence in Canada. Great North will exclusively manage Tilray's adult-use cannabis products, excluding Quebec. This partnership aims to boost sales across Canada by leveraging Great North's established retail relationships and data analytics capabilities. CEO Irwin D. Simon stated that this agreement will improve route-to-market efficiencies and drive growth, capitalizing on Great North's coast-to-coast coverage and expertise.
High Tide Inc. has transitioned all Canna Cabana retail cannabis stores to a discount club model, enhancing its presence in the value segment and claiming the title of North America's largest cannabis discount retailer. The Cabana Club loyalty program offers exclusive low prices and benefits to over 245,000 members. This strategy aims to capture market share from the illicit cannabis sector, which accounts for 40% of sales, and reflects a successful pilot program that showed significant sales increases. High Tide plans to expand this model across Canada and potentially globally, leveraging its in-house brands.
Tilray, Inc. announces the appointment of Blair MacNeil as President of Tilray Canada to enhance its growth strategy in Canada. He will lead sales, marketing, and operations across the cannabis sector and report to Jim Meiers, newly appointed Chief Operations Officer. Irwin D. Simon, CEO, believes MacNeil's experience will help meet the target of a 30% market share by the end of fiscal 2024. MacNeil previously worked at Bacardi and has extensive experience in high-growth brands. Tilray aims to be a leader in the cannabis industry globally.
High Tide has finalized its acquisition of an 80% stake in Blessed CBD for £9,064,000, enhancing its global e-commerce footprint. This marks High Tide's fifth e-commerce acquisition in 2021, increasing its e-commerce revenue run-rate from approximately $10.6 million to nearly $60 million. Blessed CBD, a leading CBD brand in the U.K. with significant site traffic, reported £5.1 million in revenue and £2.8 million in EBITDA for the year ending August 2021. The deal also includes options for High Tide to acquire the remaining 20% of Blessed CBD in three years.
Tilray, Inc. reported net revenue growth of 43% to $168 million for the first fiscal quarter ending August 31, 2021, driven by higher cannabis, beverage alcohol, and wellness revenues. The company achieved its tenth consecutive quarter of positive adjusted EBITDA, totaling $12.7 million, a 58% increase year-over-year. Gross profit rose 46% to $51 million. Tilray aims for at least $80 million in cost-saving synergies from its Aphria merger. It maintains a leading market share in Canada and Germany, positioning itself for growth amid global cannabis legalization.
High Tide Inc. has announced a definitive agreement to acquire 80% of Enigmaa Ltd., operating as Blessed CBD, for £9.06 million. Blessed is a leading UK CBD brand, known for its direct-to-consumer model with £5.1 million in revenue and strong gross margins of 81%. This acquisition aims to enhance High Tide's UK e-commerce presence and capitalize on cross-selling opportunities. The deal is expected to close in October 2021, with an option for High Tide to acquire the remaining 20% in three years, positioning the company for further growth in the EU CBD market.
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