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Tilray Signs Distribution Agreement With Great North Distributors for Adult-Use Cannabis Sales Across Canada
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
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.
Positive
National brokerage agreement with Great North enhances Tilray's market presence in Canada.
Great North's established relationships with retailers could improve sales execution.
Partnership expected to enhance route-to-market efficiencies.
Great North applies innovative data analytics to cannabis sales.
Negative
None.
NEW YORK & TORONTO--(BUSINESS WIRE)--
Tilray, Inc. (“Tilray”) (Nasdaq:TLRY; TSX:TLRY), a leading global cannabis-lifestyle and consumer packaged goods company and Great North Distributors, Inc. (Great North), Canada’s first national sales broker for legalized adult-use cannabis — today announced a signed national brokerage agreement with Tilray Canada Ltd. Under the agreement, Great North will be the exclusive representative for Tilray’s complete portfolio of adult-use cannabis products across the Canadian marketplace, with the exception of Quebec. Tilray’s leading cannabis brands include Good Supply, Riff, Solei, Canaca, The Batch, Chowie Wowie, and Broken Coast.
“Great North have been great partners in helping us achieve our leadership position in Canada. This agreement will further drive exceptional route-to-market efficiencies for our comprehensive portfolio of adult-use cannabis brands and innovative 2.0 products,” said Irwin D. Simon, Chairman and CEO, Tilray, Inc. “We believe Great North's established network positions our brands on a path to accelerated growth across Canada. In addition, their territory managers and coast to coast coverage enable us to have boots on the ground to drive focus on educating budtenders and consumers on our carefully curated portfolio of brands and high-quality products.”
“Securing the trust of Tilray cements our cannabis sales leadership position in Canada,” said Doug Wieland, President, Great North Distributors. “Great North has executed in the Canadian cannabis market since day one and will immediately bring value in sales execution, as well as the core competencies that come from our leadership team's alcohol beverage expertise to Tilray's family of brands.”
Great North has reach across every province in Canada, including established relationships and expertise working with provincially owned and operated retailers and private retailers in Canada's cannabis industry. In addition, great North applies industry-leading data analytics capabilities to the sector, providing suppliers with a powerful data-driven approach to cannabis sales.
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 on how we open a world of wellbeing, visit www.Tilray.com.
About Great North Distributors
Great North Distributors, Inc., established as a joint venture by the owners of Southern Glazer’s Wine & Spirits, is Canada’s first national sales broker for legalized adult-use cannabis. Great North Distributors has reach across every province in Canada, including established relationships and expertise working with provincially owned and operated retailers and private retailers alike. Great North applies industry-leading data analytics capabilities from the wine and spirits industry to the new cannabis industry, providing suppliers with a powerful data-driven approach to cannabis sales. For more information, visit Great North Distributors.
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. 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 applicable securities regulatory authorities and available on SEDAR and 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.
Tilray has signed a national brokerage agreement with Great North Distributors for exclusive representation of its adult-use cannabis products across Canada.
What are the expected benefits of the Tilray and Great North agreement?
The agreement aims to enhance market presence, improve sales execution, and provide data-driven sales strategies.
Which territories are excluded from the Tilray and Great North agreement?
The agreement excludes Quebec from Great North's representation of Tilray's cannabis products.
What is Tilray's stock symbol?
Tilray's stock symbol is TLRY, listed on Nasdaq and TSX.
How does Great North Distributors contribute to Tilray's sales strategy?
Great North utilizes established retail relationships and data analytics capabilities to enhance sales execution for Tilray's cannabis brands across Canada.
