TILRAY BRANDS INC Stock Price, News & Analysis

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.

Manitoba Harvest, a leader in hemp foods, is collaborating with Protein Industries Canada and industry partners to develop enhanced hemp and pea varieties aimed at boosting protein content and texture. This initiative is part of a $5.1 million investment, with Manitoba Harvest and its partners contributing $3.3 million, while Protein Industries Canada adds $1.8 million. The advancements will support the growing demand for plant-based proteins and align with the company's commitment to superior product quality and innovation. Manitoba Harvest is a subsidiary of Tilray (TLRY).

Tilray, Inc. (NASDAQ: TLRY) will release its financial results for the fourth quarter and fiscal year 2021 on July 28, 2021, before market opening. A conference call hosted by executives will take place at 8:30 am Eastern Time to discuss these results. Shareholders can submit questions through Say Technologies prior to the call. Tilray focuses on providing cannabis and consumer packaged goods globally, with a mission to enhance wellbeing through quality products.

Tilray, a leader in cannabis, announced that its German subsidiary, Aphria RX GmbH, successfully harvested medical cannabis in Germany, marking a key milestone for local production and distribution. This is the first harvest under EU Good Manufacturing Practices at their facility in Neumünster. The distribution complies with pharmaceuticals regulations, reducing reliance on imports for Germany's over 100,000 medical cannabis patients. Tilray's CEO emphasized the European market's growth potential, particularly in Germany, as they aim to enhance patient access to high-quality cannabis products.

Tilray has announced a collaboration between SweetWater Brewing Company and Broken Coast Cannabis to launch Broken Coast BC Lager, marking Tilray's first cannabis brand introduction in the U.S. The lager is crafted for beer enthusiasts and highlights the brands' commitment to quality. CEO Irwin D. Simon stated this partnership is a key milestone in their strategy to expand Canadian cannabis brands into the U.S. market. The new lager will be available on draft and in six-pack cans starting July 12, showcasing the growing intersection of cannabis and consumer products.