Recently acquired subsidiary Alef Biotechnology officially renamed
Tilray Latin America
NANAIMO, British Columbia--(BUSINESS WIRE)--Dec. 3, 2018--
Tilray, Inc. (NASDAQ: TLRY) (“Tilray”), a global leader in cannabis
research and production, today announced that after completing an
acquisition of its existing import and distribution partner Alef
Biotechnology SpA (“Alef”), the company has officially relaunched as
Tilray Latin America SpA (“Tilray Latin America”), a wholly-owned
subsidiary of Tilray.
Tilray Latin America will further strengthen Tilray’s position as a
global leader in the medical cannabis market. Tilray currently has
medical cannabis products available in twelve countries and operates
globally through its wholly-owned subsidiaries in Australia & New
Zealand, Canada, Germany, and Portugal.
Tilray Latin America will import, produce and distribute Tilray branded
medical cannabis products in Chile and create a hub to distribute Tilray
products throughout Latin America, subject to local laws.
Tilray previously announced a partnership with Alef Biotechnology in
February 2017 to import and distribute Tilray products in Chile and
Brazil. Alef, now Tilray Latin America, is currently licensed by the
Chilean government to commercially produce medical cannabis and is
planning a state-of-the-art facility to domestically produce and process
medical cannabis products. Chilean law permits patients to access
medical cannabis products under the supervision of a recommending
physician.
Alan Nudman, as General Manager, and Ariel Nudman, as VP of Sales, will
oversee the strategic growth of Tilray Latin America under the global
leadership of Tilray Inc.
About Tilray®
Tilray is
a global pioneer in the research, cultivation, production and
distribution of medical cannabis and cannabinoids currently serving tens
of thousands of patients in twelve countries spanning five continents.
This press release contains “forward-looking statements”, which may
be identified by the use of words such as, “may”, “would”, “could”,
“will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”,
“forecast”, “project”, “estimate”, “outlook” and other similar
expressions, including statements related to Tilray’s ability to import,
export, produce and distribute Tilray branded products in Chile and
throughout Latin America. Forward-looking statements are not a guarantee
of future performance and are based upon a number of estimates and
assumptions of management in light of management’s experience and
perception of trends, current conditions and expected developments, as
well as other factors that management believes to be relevant and
reasonable in the circumstances, including assumptions in respect of
current and future market conditions. Actual results, performance or
achievement could differ materially from that expressed in, or implied
by, any forward-looking statements in this press release, and,
accordingly, you should not place undue reliance on any such
forward-looking statements and they are not guarantees of future
results. Forward-looking statements involve significant risks,
assumptions, uncertainties and other factors that may cause actual
future results or anticipated events to differ materially from those
expressed or implied in any forward-looking statements. Please see the
heading “Risk Factors” in Tilray’s Quarterly Report on Form 10-Q for the
quarter ended June 30, 2018 and the risks discussed in Tilray’s other
filings with the Securities and Exchange Commission for a discussion of
the material risk factors that could cause actual results to differ
materially from the forward-looking information. Tilray does not
undertake to update any forward-looking statements that are included
herein, except in accordance with applicable securities laws.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181203005156/en/
Source: Tilray, Inc.
Media, Global: news@tilray.com,
1-833-206-8161
Investors: Katie Turner,
+1-646-277-1228, Katie.turner@icrinc.com