TILRAY BRANDS INC Stock Price, News & Analysis

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.

High Tide Inc. has opened two new retail cannabis stores in Windsor and Cornwall, Ontario, increasing its total to 101 locations in Canada and 30 in Ontario. September has seen the launch of eight new stores, underlining the company's growth despite pandemic-related challenges. The Windsor store is strategically located in a commercial district, while the Cornwall outlet sits in a prominent retail plaza. To celebrate its 100-store milestone, High Tide will support World Vision by sponsoring two additional children for each new store. The company aims to exceed 200 locations nationally by 2022.

Texas Original Compassionate Cultivation announced the appointment of Steven Yoo as Chief Financial Officer effective October 1, 2021. With over a decade of experience in the cannabis industry, including previous roles at Tilray and Subversive Capital, Yoo will lead TOCC’s financial operations. His expertise is expected to enhance financial planning and support the company’s expansion efforts, including a new cultivation facility in Bastrop, Texas, slated for completion in the first half of 2022.