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International and bulk cannabis sales punish Tilray’s bottom line

Cannabis producer Tilray became the latest Canadian marijuana company to report earnings well below market expectations. The British Columbia-based company reported a net loss of $219 million for the quarter ending Dec. 31, worse than the previous period’s net loss of $35 million. Total revenue fell 8% to $47 million compared to the previous quarter, […]

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Cannabis producer Tilray taps ex-Molson, Revlon employees for executive roles

Tilray announced changes to its executive roles this week, appointing former Molson Coors Brewing Co. and Revlon employees to key positions. The British Columbia cannabis producer said Chief Financial Officer Mark Castaneda – on the job for almost two years – would shift to strategic business development. Replacing him as CFO is Michael Kruteck, who […]

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Israel’s Canndoc signs deal with Tilray to import medical cannabis

Israel-based Canndoc has entered into an agreement to import 2.5 tons of medical cannabis into Israel to address the supply shortage in that country. The cannabis will originate from Canadian producer Tilray’s facility in Portugal, the company said in a news release. The first shipment is expected to arrive early this month. As part of […]

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Canadian marijuana firm Tilray sued for $300 million in Florida

Canadian marijuana producer Tilray is being sued for $300 million in Florida by Fort Lauderdale-headquartered soap company Trimax, which claims the British Columbia firm is seeking to bankrupt one of its subsidiaries. The suit, first reported by Law360, alleges Tilray sought to buy a big stake in Saavy Naturals, a Trimax subsidiary, so Tilray could […]

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Canadian, overseas medical cannabis sales drive Tilray’s revenue higher

British Columbia-based cannabis producer Tilray reported third-quarter revenue of $51.1 million (CA$67.8 million), a 408% jump from the same period a year earlier. Tilray also booked an 11% improvement from the second quarter’s $46 million, in line with consensus estimates. The higher revenue was driven by medical sales in Canada and overseas. Bulk shipments of […]

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Tilray inks first deal to buy adult-use cannabis retailer in Canada for CA$110 million

Canadian cannabis producer Tilray is expanding into Alberta’s competitive recreational marijuana market with the planned acquisition of retailer Four20 for 110 million Canadian dollars ($82 million). It is Tilray’s first agreement to acquire a cannabis retailer in Canada outright after taking small positions in Spiritleaf and Westleaf. Four20 has six of Alberta’s 277 adult-use cannabis locations. The definitive […]

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Cannabis firm Tilray’s revenue up, but wider loss reported

Canadian marijuana company Tilray on Tuesday reported revenue of 60.9 million Canadian dollars ($45.9 million) for the second quarter, up almost four times from the same period in 2018. Net loss for the period, which ended June 30, was $35.05 million compared with a $12.83 million loss in the second quarter 2018. Tilray, based in […]

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Marijuana firm Tilray revenue up nearly 200% in Q1; net loss grows on spending

Tilray, a British Columbia, Canada-based cannabis cultivator and distributor, reported revenue of $23 million for the first quarter of 2019, up 195% from the same period last year. The company’s net loss, however, widened nearly sixfold on higher spending. Tilray, which reports its earnings in U.S. dollars, said in a news release the sales gain […]

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Tilray expects GMP approval, first cannabis sales from Portugal this summer

Tilray’s facility in Portugal is expected to receive Good Manufacturing Practice (GMP) certification in the coming months, which the Canada-based cannabis company says will open the door for the first shipments from its European facility as early as this summer. Monetizing European demand for medical cannabis is core to the strategies of many publicly traded cannabis […]

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Marijuana firm Tilray taps ex-Goldman Sachs managing director

Canadian marijuana cultivator Tilray said it is hiring former Goldman Sachs Managing Director Andrew Pucher as chief corporate development officer. Pucher – the latest Wall Street executive to enter the marijuana industry – most recently covered cannabis stocks for Goldman as part of his role as managing director and head of Canadian Diversified Investment Banking. At […]

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Tilray to accelerate expansion into CBD with Manitoba Harvest acquisition

Cannabis giant Tilray is expanding into the natural foods category with the acquisition of hemp foods company Manitoba Harvest for 419 million Canadian dollars ($319 million) in cash and stock in an effort to capitalize on cannabidiol-infused products in North America. The acquisition will accelerate British Columbia-based Tilray’s expansion into the U.S. and Canadian markets […]

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