Tilray (NASDAQ:TLRY) is a licensed producer based in BC, Canada.
The company cultivates, processes and distributes cannabis to countries including Germany, the Czech Republic, Croatia, Cyprus, Chile, Argentina, Australia, New Zealand and Canada.
Founded in 2013, Tilray produces a variety of medical cannabis products, including flower strains, oils and capsules. It also sells accessories ranging from vaporizers to vaping pens to holders to rolling trays.
The company is majority owned by Privateer Holdings, whose CEO, Brendan Kennedy, is also CEO of Tilray. Tilray is in good company under Privateer Holdings’ umbrella — the American holdings firm also owns Leafly and Marley Natural.
Leafly is a widely used cannabis information website, and Marley Natural is a cannabis line that is branded with Bob Marley’s image. Marley Natural sells cannabis strains as well as paraphernalia.
On July 9, 2018, Tilray launched on the NASDAQ, making it the first cannabis stock to complete an IPO on the US exchange. Its share price has since shot up, dwarfing giants Aurora Cannabis (TSX:ACB) and Aphria (TSX:APH); Tilray is now competing with Canada’s other top producer, Canopy Growth (TSX:WEED), for the highest price point.
While Tilray’s market cap is nowhere near its annual revenue, investors are pleased to have seen stronger and stronger financial reports each quarter, lending to sentiment that the firm is steadily filling the industry’s high expectations.
Despite being listed on the NASDAQ, Tilray is not currently able to sell in the US due to federal laws that classify marijuana as a Schedule 1 drug. Until national legalization occurs in the US, Tilray will bide its time and continue selling in the various other countries listed above.
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Securities Disclosure: I, Amanda Kay, hold no direct investment interest in any company mentioned in this article.
As investors continue to prioritize cannabis opportunities in the US, market watchers expect mergers and acquisitions (M&A) to play a role in the future for Canadian companies.
A consolidation trend has been expected in the Canadian cannabis space for some time now based on the size of the market compared to the number of operations in the country.
BioHarvest Sciences Inc. Unveils the Unique Polyphenolic Content of Its Upcoming Olive-Based Nutraceutical
The product will include polyphenols known to have significant health benefits.
BioHarvest Sciences Inc. (CSE: BHSC) (“BioHarvest” or the “Company”) has reached an important milestone in its development program of additional Nutraceuticals. The olive-based Nutraceutical product scheduled for market availability in the second half of 2022 will contain the following unique matrix of polyphenols: hydroxytyrosol, trosol, and verbascoside. These compounds are the major polyphenols in naturally grown olives and are responsible for the high antioxidant activity of olives and olive oil. Importantly, the BioHarvest olive-based Nutraceutical product will provide all the benefits of olives and olive oil with a low calorie count per serving.
Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today that it will report financial results for the fourth quarter and full year ended December 31 st , 2020 on Thursday March 25 th , 2021 before the market opens.
The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights on Thursday March 25 th , 2021 at 8:30am Eastern Time (7:30am Central Time).
Canopy Growth to Participate in BofA Securities Virtual Consumer & Retail Technology Conference on March 11, 2021
Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) (“Canopy Growth” or “the Corporation”) announced today that EVP & CFO Mike Lee will be participating in a fireside chat at the BofA Securities Virtual Consumer & Retail Technology Conference on Thursday, March 11, 2021 at 9:30am ET .
Hill Street Beverage Company Inc. (TSXV: BEER) (“Hill Street” or the “Company”). The Company announces that further to its press release dated March 2, 2021, it has obtained TSX Venture Exchange approval to extend the closing date of its previously announced private placement of units (“Units”) until April 7, 2021. Each Unit is comprised of one (1) common share and one (1) warrant, exercisable for one common share at price of $0.11 per share, for a period of three (3) years from the date of Closing. The Company applied to extend the date of closing to allow a greater number of interested investors to participate.
For more information regarding the Company or the offering, please contact email@example.com, or