Cannabis and alcohol company Tilray Brands has made a widely followed list of the largest craft brewers in the United States, an apparent first for the nation’s multibillion-dollar craft brewing industry.
Canadian cannabis producer Tilray Brands reported a net loss of $1.2 billion (1.5 billion Canadian dollars) for its quarter ended in February and said it agreed to buy troubled rival Hexo Corp. for $56 million.
Tilray Brands is being sued by an investor who alleges the company’s former leadership led investors astray.
Tilray Brands has quietly abandoned its pledge to achieve annual revenue of $4 billion (5.3 billion Canadian dollars) by the end of 2024, with analysts now predicting the North American cannabis producer will fall far short of that figure.
Tilray Brands, a Canada-headquartered multinational marijuana, alcohol and pharmaceutical distribution company, is laying off roughly a quarter of its staff at its medical cannabis facility in Cantanhede, Portugal.
Canada-based cannabis and alcohol company Tilray Brands reported a second-quarter net loss of $61.6 million ($82.4 million Canadian dollars) on net revenue of $144.1 million.
Tilray Brands has taken another step into the beverage alcohol sector, adding New York craft-beer brewer Montauk Brewing Co. to its cannabis and alcohol portfolio.
Canadian cannabis producer Tilray Brands and Charlotte’s Web Holdings entered a “strategic alliance” to license, manufacture and distribute the Colorado-based manufacturer’s hemp-derived CBD products in Canada.
Cannabis and alcohol company Tilray Brands lost $65.8 million (90 million Canadian dollars) in the first quarter ended Aug. 30 as net revenue declined 9% year-over-year to $153.2 million.
German government officials are questioning the veracity of some key facts in a recent news release by cannabis producer Tilray Brands, telling MJBizDaily their meeting with Tilray representatives was “a one-time conversation” and “not part of the preparatory phase” of marijuana legalization.
New York-headquartered cannabis company Tilray Brands said its wellness division, Fresh Hemp Foods, signed a distribution deal with Southern Glazer’s Wine & Spirits.
Canadian cannabis and alcohol company Tilray Brands posted a $457.8 million net loss for its fourth quarter and a $434 million net loss for its 2022 fiscal year.
