TILRAY BRANDS INC Stock Price, News & Analysis

Tilray Brands (TLRY) has amended its agreements to acquire the HEXO Note, announcing an increased discount on the purchase price and a reduced conversion price for HEXO shares. The revised terms include a 10.8% discount on the $185 million outstanding principal and adjust the conversion price from CAD$0.85 to CAD$0.40 per share. The strategic alliance is expected to yield up to $80 million in shared cost-saving synergies over two years. Closing of the transaction is anticipated by July 15, 2022.

Tilray Brands has launched its first CBN oil product, CBN Night Oil, under the Aphria medical cannabis brand, aimed at improving sleep quality for patients. The product contains 30mg CBN and 10mg THC per mL in a 50mL bottle, and is now available across Canada. Blair MacNeil, President of Tilray Canada, emphasized the company's commitment to providing high-quality cannabinoid-based medicine. Tilray operates in over 20 countries and aims to expand its medical cannabis portfolio.

Tilray Brands has launched POLLEN, a new CBD lifestyle brand, on Amazon UK, aimed at enhancing wellness routines. POLLEN features three product lines: Powerbank, for energy; No Pressure, for stress relief; and Soothe You, for balance. Each product contains flavorful, vegan-friendly ingredients and 300mg of CBD per pack, independently tested for accurate dosage. The brand promotes normalization of CBD use through education and community engagement. POLLEN's products are currently exclusive to Amazon UK, with plans for broader retail availability.

Tilray Brands (Nasdaq: TLRY) has launched Good Supply TV, a new educational video series, alongside an expansion of its Good Supply cannabis portfolio. The new offerings include high-potency products such as liquid wax vapes and unique flower strains like Sweet Berry Kush and Monkey Butter in Canada. These products aim to enhance consumer knowledge and enjoyment while catering to the growing market of concentrate enthusiasts. The series is intended to provide key insights for budtenders and consumers alike.

Breckenridge Distillery announces its second annual Collectors Art Series, featuring the first female artist, Alexandrea Pangburn, for a limited release XO Cognac Cask Finish Whiskey. Available for $125 from May 6, this special edition label showcases Pangburn's nature-inspired artwork. The distillery will donate $5 from each bottle sold to the ArtPark campaign in the RiNo Arts District, supporting innovative arts initiatives. Breckenridge Distillery is renowned for its award-winning spirits and commitment to local artists.

Breckenridge Distillery, located in Breckenridge, Colorado, achieved significant accolades at the 2022 San Francisco World Spirits Competition, winning Double Gold medals for both Breckenridge Gin and Breckenridge PX Sherry Cask Finish, along with a Gold medal for Breckenridge Port Cask Finish. The competition featured around 5,000 spirits judged by 70 experts. Founder Bryan Nolt expressed pride in the recognition, affirming the distillery's commitment to quality. The awarded spirits are priced at $30 (Gin) and $60 (both Sherry and Port Cask Finishes).

Tilray Brands (TLRY) has entered into a strategic partnership with HEXO Corp aimed at enhancing operational efficiency and product innovation in the competitive cannabis market. The deal involves Tilray acquiring a US$193 million convertible note from HEXO, which will allow for a significant equity stake in HEXO at a conversion price of C$0.85 per share. The partnership is expected to generate up to US$80 million in cost synergies over two years and will facilitate the sharing of expertise and resources in cannabis product development.

Tilray Brands (TLRY) reported a net income of $52.5 million and adjusted EBITDA of $10.1 million for Q3 FY2022. Net revenue rose 23% to $152 million, driven by a 32% increase in cannabis revenue and a 64% increase in beverage alcohol revenue. The company achieved $76 million in cost synergies, on track to exceed its $80 million target ahead of schedule. Tilray maintains its leading market share in Canada at 10.2% and holds a 20% share in the German medical cannabis market, positioning itself for future growth.

Manitoba Harvest, a leading hemp foods brand and a subsidiary of Tilray Brands (TLRY), has launched its innovative Hemp+ Matcha and Hemp+ Supergreens powders exclusively at over 300 Whole Foods Market locations across the U.S. The products debuted in April 2022, with each serving providing 6 grams of plant-based protein and 2-3 grams of fiber. This collaboration highlights the increasing popularity of hemp-based foods and the commitment to quality. The powders will remain available after the initial 90-day exclusivity.