Search Results

Keywords: tilray

Cannabis producer Tilray shutting ‘flagship’ facility in Nanaimo

Marijuana producer Tilray Inc. is shutting down a “‘flagship” facility in Nanaimo, British Columbia, as part of the company’s plan to save money following its merger with Aphria, the company confirmed in an email to MJBizDaily. “Tilray will be closing its office and facility in Nanaimo, BC. With the recent business combination with Aphria, Tilray […]

Read More

Tilray reports $336M annual loss, targets $4B in cannabis sales by 2024

Canadian cannabis producer Tilray reported an annual loss of $336 million (422 million Canadian dollars) for its fiscal year ended May 31, capping off a transformative year in which the company closed a reverse-merger with Aphria and bought U.S. brewer SweetWater Brewing Co. The financial data include four weeks of results flowing from the merger […]

Read More

Cannabis firm Tilray reports $341 million net loss in last stand-alone quarter

Tilray’s recreational and medical cannabis revenue plunged in the final quarter before its merger with Aphria went into effect May 3, and the company recorded a net loss of nearly $350 million. Tilray’s red ink rose in part due to a large litigation settlement, according to the British Columbia-based company’s first-quarter financial disclosure. Before merging […]

Read More

Tilray, Aphria complete blockbuster marijuana merger

Once-rival cannabis producers Tilray and Aphria completed their megamerger, the new company announced Monday, forming one of the biggest diversified marijuana, hemp and beer companies in the world. The new company will operate under the Tilray corporate name, with shares trading on the Nasdaq under the ticker symbol TLRY. The merger talks took more than […]

Read More

Cannabis firm Tilray reduces minimum quorum after delayed investor meeting

British Columbia-based Tilray amended its bylaws to reduce the required quorum for shareholder meetings, the cannabis producer said in a news release. The move comes one day after the company postponed a special meeting regarding its pending merger with Aphria, effectively giving stockholders additional time to vote on the business combination. This means the required quorum […]

Read More

Cannabis producer Tilray postpones shareholder vote on Aphria merger

Canadian cannabis producer Tilray postponed a special shareholder meeting to vote on its proposed megamerger with Aphria. The meeting, which was originally scheduled for Friday, will now be held two weeks later, on April 30. Tilray offered little explanation for the last-minute postponement in a news release issued Thursday, except to say the delay will […]

Read More

Aphria, Tilray to host April shareholder meetings about planned merger

Aphria and Tilray will host special shareholder meetings next month on the proposed merger between the cannabis producers, the companies said. The meetings will be held via live audio webcast for Aphria and Tilray shareholders on April 14 and April 16, respectively. According to a news release, Aphria shareholders must vote their proxies before 4 […]

Read More

Aphria-Tilray cannabis merger talks overcame pandemic pause, rival bidder and other hurdles, proxy reveals

On-again, off-again merger talks between rival cannabis producers Tilray and Aphria had their genesis in October 2019 when an unidentified investment bank active in the marijuana space pitched a meeting between the company’s respective CEOs, according to a proxy statement filed with regulators. From there, the blockbuster merger took more than a year to finalize: […]

Read More

Canadian marijuana producer Tilray reports $271 million loss for year

Cannabis producer Tilray cut its annual loss to $271 million for 2020, an improvement from the Nanaimo, British Columbia company’s $321 million loss in 2019, according to the full-year and fourth-quarter results released Wednesday. Tilray, which is on the verge of being merged with Canadian peer Aphria, lost only $3 million in its fourth quarter […]

Read More