TILRAY BRANDS INC Stock Price, News & Analysis

Tilray announced that its class 2 common stock (TLRY) began trading on the Toronto Stock Exchange as of May 5, 2021, while continuing to be listed on the Nasdaq. Following the merger with Aphria, shareholders of Aphria received 0.8381 Tilray Shares for each Aphria Share held as of April 30, 2021. Tilray aims to enhance well-being through its diverse portfolio of over 20 brands across various sectors, including cannabis, hemp, and alcoholic beverages, establishing itself as a leader in the global cannabis market.

Tilray and Aphria have successfully completed their business combination, forming the largest global cannabis-focused consumer packaged goods company with a market cap of about US$8.2 billion. Tilray Shares will trade on Nasdaq and the Toronto Stock Exchange under the ticker symbol 'TLRY'. Each Aphria shareholder received 0.8381 Tilray Shares for every Aphria share held. The company aims to leverage its operational scale, enhanced consumer presence, and substantial cost synergies of approximately US$81 million within 18 months, focusing on global growth and profitability.

Tilray, Inc. (NASDAQ: TLRY) announced a bylaw amendment reducing the quorum requirement for shareholder meetings from a majority to one-third of voting power. This change is in connection with the proposed merger with Aphria Inc., allowing for shareholder votes at the upcoming special meeting on April 30. Tilray encourages all stockholders to participate in voting, regardless of share numbers. Proxies already submitted will be counted unless revoked. Tilray operates globally in cannabis research, cultivation, and distribution, serving thousands of customers across 17 countries.

Tilray (NASDAQ: TLRY) announced the adjournment of its special stockholder meeting, originally set for April 16, 2021, to April 30, 2021, to allow more time for stockholders to vote on the business combination with Aphria Inc. Stockholders who have already voted do not need to recast their votes. The meeting will be held via live webcast, and all stockholders are urged to participate. The transaction aims to strengthen Tilray’s market position in the cannabis industry and enhance shareholder value.

Aphria and Tilray are set to hold special meetings on April 14 and April 16, 2021, to approve their proposed business combination. Aphria has received necessary regulatory approvals and an interim order from the Ontario Superior Court for the arrangement. The combined entity will become the world's largest cannabis company, projecting pro forma revenue of US$685 million. Both Boards recommend their shareholders vote ‘FOR’ the transaction. Expected cost synergies of US$78 million will enhance operational efficiency, while the combined company aims for growth in domestic and international markets.

Tilray (NASDAQ: TLRY) has received approvals from New Zealand's Ministry of Health to launch its medical cannabis products nationwide. As a leading provider in Australia and New Zealand, Tilray aims to offer high-quality medical cannabis products, starting with its Purified CBD line. By Q2 2021, the company plans to expand its GMP-certified product range. Tilray collaborates with prominent research institutions to explore cannabis treatments for various health conditions. This expansion enhances patient access to medical cannabis in New Zealand.

Tilray, a global cannabis leader (Nasdaq: TLRY), announced its fiscal year 2020 and Q4 results, reporting a total revenue of $56.6 million, up 20.5% YoY, with cannabis revenue rising 46% to $41.2 million. The company achieved a net loss of $(3.0) million, significantly improved from $(219.8) million in Q4 2019. Adjusted EBITDA reached $2.2 million, marking a turnaround. Anticipating $100 million in synergies from its merger with Aphria, Tilray aims for enhanced market positioning. Cash reserves totaled $189.7 million, setting a solid foundation for future growth opportunities.