Tilray Medical Announces Expansion Plans in Panama, Strengthening Global Cannabis Leadership and Accelerating International Growth

Rhea-AI Summary

Tilray Medical (NASDAQ: TLRY) announced an expansion into Panama via a joint venture with Top Tech Global Inc., forming Solana Life Group.

Solana Life Group received a medical cannabis license from the National Directorate of Pharmacy and Drugs in Panama authorizing cultivation, manufacturing, import, export, distribution, and sale of medical cannabis. Tilray Medical said it will provide product supply, education, and support to the Panamanian medical community while collaborating with healthcare professionals, regulators, and patient groups to deliver cannabinoid-based therapies.

Positive

• Joint venture formed with Top Tech via Solana Life Group
• Medical cannabis license received from Panama regulator authorizing full operations
• Authorized activities: cultivation, manufacturing, import, export, distribution, sale

Negative

• None.

Insights

International Market Expansion Analyst

Tilray Medical formed a licensed joint venture in Panama to cultivate, manufacture, import/export, distribute and sell medical cannabis.

Tilray Medical and Top Tech Global Inc. created the joint venture Solana Life Group and received a medical cannabis license from the National Directorate of Pharmacy and Drugs in Panama. The arrangement assigns clear operational rights: cultivation, manufacturing, import/export, distribution and sale, and pairs Tilray's stated global medicinal-cannabis expertise with Top Tech's local distribution experience.

The main dependencies are execution of the joint-venture operational plan, local supply-chain establishment, and cooperation with Panamanian healthcare professionals and regulators as described. Risks include implementation delays in launching products, supply reliability, and the need to secure clinical and professional acceptance through education and product availability.

Watch the commercial launch milestones and regulatory interactions tied to the joint venture and the license, the roll-out of the stated education programs for healthcare professionals, and evidence of an operational supply chain from the partners; these items will reveal whether the announced license converts to sustained market access.

NEW YORK, Oct. 13, 2025 (GLOBE NEWSWIRE) -- Tilray Medical (“Tilray”), a division of Tilray Brands, Inc. (NASDAQ: TLRY and TSX: TLRY) and a global leader in medicinal cannabis, empowering the therapeutic alliance between patients and healthcare practitioners to make informed individualized health decisions, transforming healthcare, has announced plans to expand its medical cannabis operations into Panama. In connection with its expansion into Panama, Tilray has entered into a joint venture with Top Tech Global Inc. (“Top Tech”), whose members have extensive experience in the distribution of medical devices since 2014.  Together, Tilray and Top Tech, through their joint venture company, Solana Life Group, have received a medical cannabis license issued by the National Directorate of Pharmacy and Drugs in Panama authorizing the cultivation, manufacturing, import, export, distribution and sale of medical cannabis in Panama.  

With this joint venture partnership, Tilray Medical will leverage both its global expertise, as well as the local expertise of Top Tech to facilitate the launch and ongoing distribution of medical cannabis products across Panama, thereby enhancing access for patients in need. Tilray is committed to supporting the Panamanian medical community by providing education, maintaining a reliable supply chain, and offering a comprehensive portfolio of cannabinoid-based therapies. This partnership highlights Tilray’s dedication to patient-centric care worldwide and its objective to deliver safe, high-quality cannabis medicines tailored to individual patients’ requirements. Tilray Medical intends to collaborate closely with healthcare professionals, regulatory authorities, and patient advocacy organizations in Panama to provide trusted therapeutic alternatives and uphold rigorous standards in medical cannabis. This expansion represents a further progression in Tilray’s mission to support patients and healthcare practitioners globally, advancing healthcare through compassion and innovation.

About Tilray Medical

Tilray Medical is dedicated to transforming lives and fostering dignity for patients in need through safe and reliable access to a global portfolio of medical cannabis brands, including Tilray Medical, Tilray Craft, Broken Coast, Redecan, Good Supply and Navcora. Tilray Medical grew from being one of the first companies to become an approved licensed producer of medical cannabis in Canada to building the first GMP-certified cannabis production facilities in Portugal and Germany. Today, Tilray Medical is a leading supplier of medical cannabis with a portfolio of brands and products designed to meet the needs of our patients worldwide in over 20 countries.

For further information on Tilray Medical, visit Tilray Medical Europe, Tilray Medical Canada, and Tilray Medical Australia-New Zealand.

About Tilray Brands

Tilray Brands, Inc. (“Tilray”) (Nasdaq: TLRY; TSX: TLRY), is a leading global lifestyle and consumer packaged goods company with operations in Canada, the United States, Europe, Australia, New Zealand and Latin America that is leading as a transformative force at the nexus of cannabis, beverage, wellness, and entertainment, elevating lives through moments of connection. Tilray’s mission is to be a leading premium lifestyle company with a house of brands and innovative products that inspire joy and create memorable experiences. Tilray’s unprecedented platform supports over 40 brands in over 20 countries, including comprehensive cannabis offerings, hemp-based foods, and craft beverages.

For more information on how we are elevating lives through moments of connection, visit Tilray.com and follow @Tilray on all social platforms.

Forward-Looking Statements

Certain statements in this communication that are not historical facts constitute forward-looking information or forward-looking statements (together, “forward-looking statements”) under Canadian securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be subject to the “safe harbor” created by those sections and other applicable laws. Forward-looking statements can be identified by words such as “forecast,” “future,” “should,” “could,” “enable,” “potential,” “contemplate,” “believe,” “anticipate,” “estimate,” “plan,” “expect,” “intend,” “may,” “project,” “will,” “would” and the negative of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Certain material factors, estimates, goals, projections, or assumptions were used in drawing the conclusions contained in the forward-looking statements throughout this communication. Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses, or current expectations concerning, among other things, the Company’s ability to successfully launch and distribute cannabis products in Panama and commercialize new and innovative products worldwide. Many factors could cause actual results, performance, or achievement to be materially different from any forward-looking statements, and other risks and uncertainties not presently known to the Company or that the Company deems immaterial could also cause actual results or events to differ materially from those expressed in the forward-looking statements contained herein. For a more detailed discussion of these risks and other factors, see the most recently filed annual information form of Tilray and the Annual Report on Form 10-K (and other periodic reports filed with the SEC) of Tilray made with the SEC and available on EDGAR. The forward-looking statements included in this communication are made as of the date of this communication and the Company does not undertake any obligation to publicly update such forward-looking statements to reflect new information, subsequent events, or otherwise unless required by applicable securities laws.

For further information:
Media: news@tilray.com
Investor Relations: investors@tilray.com

FAQ

What did Tilray Medical announce for Panama on October 13, 2025 (TLRY)?

Tilray Medical announced a joint venture with Top Tech to form Solana Life Group and expand medical cannabis operations in Panama.

Does Tilray Medical have a license to operate medical cannabis in Panama (TLRY)?

Yes; Solana Life Group received a medical cannabis license from the National Directorate of Pharmacy and Drugs authorizing cultivation, manufacturing, import, export, distribution, and sale.

How will Tilray Medical support Panamanian healthcare providers and patients (TLRY)?

Tilray Medical intends to provide education, maintain supply chain reliability, and offer a portfolio of cannabinoid-based therapies to healthcare professionals and patients.

What is the name of the joint venture between Tilray Medical and Top Tech (TLRY)?

The joint venture company is named Solana Life Group.

Will Tilray Medical work with local regulators and patient groups in Panama (TLRY)?

Yes; Tilray Medical intends to collaborate closely with healthcare professionals, regulatory authorities, and patient advocacy organizations in Panama.