TILRAY BRANDS INC Stock Price, News & Analysis

Tilray Medical, a division of Tilray Brands (Nasdaq: TLRY), has received approval from the Natural Health Science Foundation (NHSF) for its CBD100 product to be utilized in clinical trials in Australia and New Zealand. This verification highlights Tilray’s commitment to quality and safety in medical cannabis. The NHSF approval confirms that Tilray Purified Oral Solution meets rigorous standards for reproducibility and scientific validity. Additionally, the New Zealand Ministry of Health has verified product quality, further establishing Tilray Medical as a trusted provider in the region.

Tilray Brands has received approval from the Polish Ministry of Health to distribute its Tilray branded medical cannabis products in Poland, enhancing its European market presence.

Tilray Medical, which operates in 21 countries, focuses on providing high-quality THC and CBD products to patients. The company has established partnerships with local pharmaceutical companies to facilitate pharmacy distribution, allowing patients to obtain prescriptions through their doctors.

Tilray continues to advocate for patient access to reliable medical cannabis across Europe.

Breckenridge Distillery has announced the release of two limited-edition Mile High Bourbon Blends, launching on August 8, 2022. This collaboration with the Denver Broncos features alumni Jake Plummer and Karl Mecklenburg blending bourbons that encapsulate unique flavor profiles. The blends, encased in commemorative bottles, celebrate the Broncos' legacy. The first blend received accolades, including Best American Blended Whiskey. Breckenridge Distillery, known for its award-winning spirits, was acquired by Tilray Brands, Inc. in December 2021.

Tilray Brands has announced a strategic distribution agreement with Southern Glazer's Wine & Spirits for its Tilray Wellness division. This deal grants access to Southern Glazer's extensive distribution network, reaching various retail channels across 13 states, paving the way for Tilray's entry into the booming CBD beverage market. Jared Simon, President of Tilray Wellness, noted that this partnership positions the company for significant growth in the multi-billion-dollar adult beverage sector with a non-alcoholic CBD alternative.

Tilray reported FY2022 net revenue growth of 22% to $628 million, with Q4 net revenue increasing 8% to $153 million. Adjusted EBITDA for FY2022 reached $48 million. A net loss of $434 million included a non-cash impairment of $395 million. The company aims for $70-$80 million in adjusted EBITDA and to be free cash flow positive for FY2023. Significant cost savings of $100 million are expected from operational synergies. The HEXO acquisition positions Tilray for further growth in North America and Europe.

Tilray Brands has launched WeCare-MedicalCannabis, a new educational platform aimed at healthcare professionals and patients to enhance knowledge about medical cannabis. Available in English, German, French, and Portuguese, this resource offers science-based content to help users make informed decisions regarding medicinal cannabis use. Managing Director Sascha Mielcarek emphasized the importance of bridging the educational gap in the expanding market of medical cannabis, particularly as legalization increases in Europe. The platform aims to support global health initiatives.

Tilray Brands, Inc. (TLRY) announced its ‘Wild West’ lineup from the CANACA brand at the Calgary Stampede. The activation features a western lounge at Wildhorse Saloon, offering limited-edition merchandise and showcasing popular products such as CANACA Indica 30 Infused Pre-Rolls, THC Distillate Vape Pen, Sour Diesel Flower, and various pre-roll blends. CANACA emphasizes locally sourced cannabis, aiming to provide high-quality experiences. The event allows consumers to engage with the brand while enjoying the festivities of the Calgary Stampede.

Tilray Brands, Inc. (TLRY) will announce its financial results for the fourth quarter and fiscal year ending May 31, 2022, before the market opens on July 28, 2022. A live audio webcast will take place at 8:30 am ET, providing insights into the company's performance. Shareholders can submit questions to the executive team via the Say Technologies platform until July 27, 2022. Tilray is a prominent cannabis and consumer packaged goods company operating globally, offering innovative products and brands that cater to health and wellbeing needs.

Tilray Brands announced the closure of its acquisition of a secured convertible note from HEXO Corp, valued at $155 million, representing a 10.8% discount on its $173.7 million balance. This strategic alliance aims to enhance operational efficiencies and drive product innovation, potentially yielding up to $80 million in cost savings over two years. The acquisition is expected to be immediately accretive to EPS and boost Tilray's market position, especially in anticipation of U.S. federal legalization opportunities.