Search Results for: Tilray and High Park

Tilray Launches High Park Company to Produce And Distribute Adult-Use Cannabis In Canada

CANADA: In anticipation of the historic legalization of adult-use cannabis in Canada,  Tilray has announced the creation of wholly-owned subsidiary High Park Company to produce and distribute a broad-based portfolio of cannabis brands and products. As a part of this announcement, the company announced it will be making an investment of up to $10 million in a new facility located in London, Ontario to process and distribute finished cannabis products for the adult-use market in Canada.

Broad-Based Brand Portfolio
Based in Toronto and led by a team with deep experience in cannabis and global consumer brands, High Park has secured the exclusive rights to produce and distribute a broad-based portfolio of adult-use cannabis brands and products in Canada, subject to applicable laws and regulations. These brands include:

  • Marley Natural, crafted with deep respect for wellness and the positive potential of the herb. Marley Natural products include whole flower, pre-rolls, vape oil cartridges and cannabis-infused edibles.*
  • Irisa, a women’s wellness brand. Irisa products include milled blends, pre-rolls and elixirs.*
  • Dutchy, for the more frequent consumer. Dutchy products include whole flower, pre-rolls and vape oil cartridges.*
  • Graila luxury brand. The Grail brand offers a unique variety of products, including rare strains with exotic cannabinoid and terpene profiles.
  • Headlight, for the experienced consumer. Headlight products include cannabis concentrates, waxes and vape oil cartridges.*
  • Goodship, makers of damn fine edibles. The Goodship brand is known for its delectable cannabis-infused baked goods, chocolates and confections.*
  • Wallopscreators of high-intensity chews and confections.*

In addition to acquiring the rights to bring the brands listed above to Canada, High Park has developed new brands and products for the Canadian market.

*Vape oil cartridges, tinctures, cannabis concentrates, waxes and cannabis edibles are not anticipated to be permitted under Canadian adult-use legislation initially, but the Government of Canada has indicated that edibles will be permitted no later than 12 months after the legislation comes into force. Other forms may be permitted at a later date.

Production Capacity Expansion
In response to rapidly growing global demand for cannabis products, we previously announced an investment of up to $30 million in a second facility featuring 13 acres of greenhouse located on 100 acres of property in Enniskillen, Ontario. The facility, now called High Park Farms™, is currently under construction and is expected to begin cultivating cannabis in the first half of 2018 subject to the receipt of necessary regulatory approvals.

 

Tilray Expands Manufacturing Capacity With New Processing License From Health Canada

Newly-acquired Natura Naturals Inc. located in Leamington, Ontario obtains processing license, allowing it to produce a wide range of cannabis form factors for the Canadian market

CANADA: Natura Naturals Inc., a wholly-owned subsidiary of Tilray, Inc. and High Park Holdings Ltd., has received a standard processing license under the Cannabis Act. The Natura greenhouse facility, which previously held a standard cultivation license, will now be able to manufacture a wide range of cannabis form factors from cannabis starting material, including oil, pre-rolls, and novel formats such as topicals and edibles.

Natura, which will operate under High Park Gardens Inc., was acquired by Tilray in February 2019 to serve the adult-use and medical cannabis market in Canada alongside Tilray’s existing operations. The site is a 662,000 square-foot greenhouse facility with 155,000 square-feet licensed for cultivation. The addition of a standard processing license means that High Park Gardens will be able process cannabis raw material cultivated on site – as well as raw material sourced from other cannabis licensees – into a variety of value-add product formats. This development provides Tilray’s facilities additional flexibility in the manufacture of products for the Canadian cannabis market, and in the development of novel products in preparation for legalization of additional cannabis products, including tinctures, concentrates and edibles, in Canada later this year.

High Park Gardens will work closely with Tilray’s existing operations in British Columbia and Ontario: High Park Farms Ltd., a cultivation and processing facility featuring 13 acres of greenhouse space on 100 acres of property in Enniskillen, Ontario; High Park processing facility, a 56,000 square-foot processing and R&D facility in London, Ontario and Tilray Canada Ltd., a cultivation, research and processing facility located in Nanaimo, British Columbia. All sites are actively engaged in the cultivation, manufacture, and sale of cannabis products for the Canadian cannabis market.

“The acquisition of High Park Gardens in February allowed us to significantly increase our production footprint,” says Greg Christopher, EVP Operations, Tilray. “With this additional licensing, we’re pleased to have expanded Tilray and High Park’s capacity to develop and manufacture high-quality branded products for the Canadian market.”

 

Tilray Increases Cannabis Supply With Acquisition Of Natura Naturals Holdings

CANADA: Tilray, a global leader in cannabis research, cultivation, production and distribution, announced the closing of a previously announced definitive agreement to acquire all of the issued and outstanding securities of Natura Naturals Holdings, the parent company of a licensed cultivator of cannabis. Moving forward, the Natura facility will operate under the name High Park Gardens and serve as an additional cultivation facility to serve the medical and adult-use market in Canada.

Tilray_LogoAs a result of the finalized acquisition, Tilray and High Park have obtained the 662,000 square-foot greenhouse cultivation facility, of which 155,000 square feet are currently licensed. There are also options to expand the facility to further increase production capacity. Natura, through a wholly-owned subsidiary located in Leamington, Ontario, is a licensed cultivator under the Cannabis Act specializing in the greenhouse cultivation.

Under the terms of the definitive agreement and subject to certain customary adjustments, Tilray delivered C$35 million at closing, comprised of C$15 million in cash and C$20 million in Tilray Class 2 common stock. Natura shareholders will receive their pro rata portion of the C$15 million closing cash amount, after the deduction of certain transaction expenses incurred by Natura and subject to applicable withholding taxes. Upon Natura reaching certain quarterly production milestones over the following twelve-month period, up to C$35 million of Tilray common stock may become payable resulting in a total purchase price of C$70 million if fully achieved.

“We’re very pleased to add High Park Gardens to our growing global footprint” said Greg Christopher, EVP Operations. “This acquisition marks another milestone in building a strong supply chain to give Canadians safe access to quality tested cannabis medicine and products.”

Tilray Announces Global Senior Leadership Appointments

Former Coca-Cola, Starbucks, Nestle and Diageo executives join pioneering cannabis company

CANADA: Tilray, a global pioneer in cannabis production, research, cultivation and distribution, announces the expansion of its global senior leadership team with four strategic hires: Greg Christopher as EVP of Operations, formerly with Nestle; Rita Seguin as EVP of Human Resources, formerly with Diageo; Dara Redler as General Counsel, formerly with The Coca-Cola Company; and Charlie Cain as VP of Retail, formerly with Starbucks Corporation.

Tilray_Logo“We are pleased to have these experienced leaders join our team as we continue to disrupt the global pharmaceutical, alcohol, CPG and functional food and beverage industries,” says Brendan Kennedy, Tilray CEO. “Greg, Rita, Dara and Charlie come to Tilray with robust expertise in their respective fields and we look forward to their contributions as we pioneer the future of cannabis around the world.”

Each of the recently hired senior leaders bring invaluable expertise to Tilray’s growing leadership team. Their roles will directly drive the development of Tilray’s robust operations, which have enabled Tilray to distribute its products in 12 countries, as well as accelerate the company’s aggressive global expansion strategy.

Greg Christopher, Executive Vice President, Operations, joins Tilray with over 30 years of global experience in operations and supply chain across the many product categories at Nestle SA most recently serving as Senior Vice President of Supply Chain Operations for Nestle in Canada. Greg will oversee the strategic development and expansion of the company’s global operations and cannabis value chain across Tilray and all its subsidiaries.

Rita Seguin, Executive Vice President, Human Resources, served as the Senior Vice President of Human Resources for Diageo North America and most recently as Vice President of Human Resources for Southern Glazers Wine & Spirits Distributors. Rita’s appointment represents Tilray’s commitment to the long-term growth and success of the people within the organization. She will oversee the synchronization of the company’s growing global team and recruitment of talent all over the world.

Dara Redler, General Counsel, most recently served as Vice President and Senior Counsel for Coca-Cola North America and held a number of leadership roles in the legal division during her tenure at The Coca-Cola Company. In her role as Tilray General Counsel, Dara will oversee the strategic global growth of Tilray and all its subsidiaries with the legal team and work cross-functionally with all teams within the organization.

Charlie Cain, Vice President, Retail, served as Vice President of Concept Development and Franchising for Starbucks Corporation before joining the cannabis industry as CEO of Dockside Cannabis, one of Washington state’s original and most respected cannabis retail chains. Charlie brings more than 15 years of retail strategy, innovation, and operations experience to the development and oversight of Tilray and High Park’s North American retail strategy.

Tilray To Acquire Natura Naturals Holdings For Up To C$70 Million Subject To Performance Milestones

CANADA: Tilray, a global leader in cannabis research, cultivation, production and distribution, announced it has entered into a definitive agreement to acquire all of the issued and outstanding securities of Natura Naturals Holdings, the parent company of a licensed cultivator of cannabis.

Tilray_LogoAs a result of the acquisition, if completed, Tilray will obtain Natura’s 662,000 square-foot greenhouse cultivation facility, of which 155,000 square-feet are currently licensed, and all subsequent cannabis output from this facility. Natura, through a wholly-owned subsidiary located in Leamington, Ontario, is a licensed cultivator under the Cannabis Act specializing in the greenhouse cultivation of cannabis.

Under the terms of the definitive agreement and subject to certain customary adjustments, Tilray will deliver C$35 million at closing, comprised of C$15 million in cash and C$20 million in Tilray Class 2 common stock. Natura shareholders will receive their pro rata portion of the C$15 million closing cash amount, after the deduction of certain transaction expenses incurred by Natura and subject to applicable withholding taxes. Upon Natura reaching certain quarterly production milestones over the following twelve-month period, up to C$35 million of Tilray common stock may become payable resulting in a total purchase price of C$70 million if fully achieved.

“We’re very pleased to have an agreement in place that allows us to expand our capacity to supply high-quality branded cannabis products to the Canadian market,” said Brendan Kennedy, Tilray President and CEO. “Through an extensive and thorough search for the right supply partner, we’re pleased to have come to a mutually-beneficial agreement with Natura.”

Tilray currently operates three state-of-the-art facilities in Canada and one in Portugal: Tilray Canada Ltd. (“Tilray Canada”), a Nanaimo, British Columbia-based research, cultivation and processing facility which primarily serves the Canadian and global medical cannabis market; Tilray Portugal, Unipessoal, Lda. (“Tilray Portugal”), located in Cantanhede, a research, processing, cultivation, packaging and distribution facility which will primarily serve the medical cannabis market in Europe; High Park Farms Ltd. (“High Park Farms”), an Enniskillen, Ontario-based cultivation and processing facility primarily serving the adult-use market in Canada; and the newly-licensed High Park processing facility in London, Ontario, which will exclusively serve the adult-use market in Canada. Tilray and High Park also have cannabis supply agreements in place with Licensed Producers throughout Canada and most recently signed an exclusive sale, supply, distribution and marketing agreement to deliver High Park adult-use cannabis products in Québec with ROSE LifeScience. The proximity of Natura’s facility to Tilray and High Park’s existing Ontario operations is expected to be valuable in the long-term collaboration of cannabis research, cultivation and processing within the Company.

Prior to signing the definitive agreement, Tilray conducted extensive due diligence on Natura’s cultivation facility and cannabis products. Prior to distribution, all cannabis products produced at the Natura facility will adhere to Tilray’s stringent quality assurance standards. The increased supply from Natura will allow Tilray to expand its capacity to supply the Canadian market with high-quality branded cannabis products.

The transaction will be completed by plan of arrangement under the Ontario Business Corporations Act. Completion of the transaction will be subject to customary terms and conditions, including shareholder and court approval of the arrangement. It is anticipated that the closing of the transaction will be completed within the next 30 days. Tilray looks forward to sharing more information related to the company’s increasing production capacity and global growth strategy, in the coming months.

Cowen provided a fairness opinion to Tilray’s board of directors in connection with the transaction.

AB InBev And Tilray Announce Research Partnership Focused On Non-Alcohol THC And CBD Beverages

New Partnership to Focus on Research that will Guide Responsible Innovation

CANADA: AB InBev, the world’s leading brewer, and Tilray, a global pioneer in cannabis production and distribution, announced a partnership to research non-alcohol beverages containing tetrahydrocannabinol (THC) and cannabidiol (CBD). The partnership is limited to Canada and decisions regarding the commercialization of the beverages will be made in the future.

AB InBev Brands

The research partnership combines AB InBev’s deep experience in beverages with Tilray’s expertise in cannabis products. AB InBev’s participation will be through its subsidiary Labatt Breweries of Canada, one of the country’s founding businesses and its leading brewery, and Tilray’s participation will be through its Canadian adult-use cannabis subsidiary High Park Company, which develops, sells, and distributes a portfolio of socially responsible cannabis brands and products in Canada.  Each company intends to invest up to $50 million USD, for a total of up to $100 million USD.

“Labatt is committed to staying ahead of emerging consumer trends. As consumers in Canada explore THC and CBD-infused products, our innovative drive is matched only by our commitment to the highest standards of product quality and responsible marketing. We intend to develop a deeper understanding of non-alcohol beverages containing THC and CBD that will guide future decisions about potential commercial opportunities,” said Kyle Norrington, President, Labatt Breweries of Canada. “We look forward to learning more about these beverages and this category in the months ahead.”

“We are delighted to be joining forces with a world-leading beverage company, AB InBev, to research how to create enjoyable cannabis beverage products. Tilray and AB InBev share a commitment to responsible product development and marketing, and we look forward to beginning our work on this important partnership as Tilray continues to pioneer the development of a professional, transparent, and well-regulated cannabis industry,” said Brendan Kennedy, CEO of Tilray.

Tilray Signs Letter Of Intent For Hemp-Derived CBD From The U.S. And Canada

CANADA: Tilray, a global leader in cannabis research and production, announced the terms of a binding letter of intent to purchase hemp-derived CBD isolate from LiveWell Canada, which will be sourced from the United States and Canada and utilized for distribution of Tilray-owned wellness and medical products across North America.

The LOI outlines that LiveWell will supply Tilray with CBD isolate made from hemp cultivated and processed in the U.S. and Canada, with first supply commencing in February 2019. The CBD isolate will be used to process finished CBD cannabis products for distribution by Tilray in Canadian and U.S. markets, subject to applicable federal and local laws and regulations.

Regulations in Canada allow for the use of hemp as a source of CBD, as long as the product satisfies certain quality requirements. These new rules will allow for wholly-owned Tilray Inc. subsidiaries, Tilray Canada Ltd. and High Park Farms Ltd. to potentially utilize hemp-derived CBD to increase supply of CBD medical and wellness products in Canada.

The Farm Bill in the U.S. presents an opportunity to enter the hemp-derived CBD industry and capitalize on an estimated US$22 billion market. Tilray has the expertise, team and supply in place to pursue this opportunity and looks forward to potentially expanding its product offerings to include hemp-derived CBD in U.S.

“Today’s announcement puts Tilray in a strong position to expand the availability of our products in existing and new potential markets,” says Brendan Kennedy, Tilray CEO. “We’re pleased about the opportunity to increase our capacity to supply high-demand CBD products in Canada.”

As outlined in the terms of the LOI, LiveWell will ensure the hemp-derived CBD isolate supplied to Tilray adheres to strict quality standards, including Good Production Practice (GPP). Prior to distribution, Tilray will ensure that all finished products adhere to applicable law, as well as its internal quality standards.

Tilray Invests C$7.5M In Québec-Based Cannabis Producer ROSE Lifescience

High Park enters into sale, supply, distribution and marketing agreement with ROSE as its exclusive partner in Québec

CANADA: Tilray, a global pioneer in cannabis production and distribution, today announced an investment in Québec-based cannabis producer, ROSE LifeScience, and an exclusive sale, supply, distribution and marketing agreement between High Park Farms, a wholly-owned subsidiary of Tilray, and ROSE.

rose-lifescience-tag

Tilray will subscribe for 41 Class “A” Common shares (12%) in the capital of ROSE for a subscription amount of C$7.5 million pursuant to a subscription agreement (the “Subscription Agreement”). At the time of closing of this subscription the only issued and outstanding equity of ROSE will be 344 Class “A” Common shares and there will be no outstanding options, warrants or other rights to acquire equity of ROSE.

In connection with the subscription agreement, High Park and ROSE have entered into an exclusive sale, supply, distribution and marketing agreement to deliver High Park adult-use cannabis products in Québec including existing brand, Dubon™, which is exclusively available in Québec through the Société québécoise du cannabis (SQDC). The two companies may also collaborate on additional co-branded adult-use cannabis products or brands exclusively for this market.

The investment in ROSE represents a commitment to increase supply to the Québec market and the opportunity to deliver consumers locally-grown products. ROSE has begun construction of a 54,000 square-foot cannabis cultivation facility on its land in Huntingdon, Québec and has applied for a Health Canada cultivation, processing and sales license. Once fully-licensed, ROSE will be the exclusive supplier of High Park’s adult-use cannabis products in the Québec market.

“Tilray and High Park value our partnership with the SQDC and our shared commitment to creating a responsible and safe legal market for cannabis,” says Adine-Fabiani Carter, Chief Marketing Officer, High Park. “This investment in a Québec-owned and operated organization will enable High Park to better serve this partnership and the adult-use market in Québec.”

Nova Scotia Liquor Taps Tilray For Adult-Use Cannabis Products

CANADA:  Tilray Canada announced that it has been selected by the Nova Scotia Liquor Corporation to receive an initial purchase order for adult-use cannabis. The purchase order would allow Tilray, one of fourteen cannabis producers selected by NSLC, to supply the province of Nova Scotia with a diverse array of cannabis products in anticipation of the launch of the adult-use market on October 17, 2018.

According to the release, Tilray intends to fulfill NSLC purchase orders through its affiliate High Park Holdings Ltd., which was formed to produce and distribute a broad-based portfolio of adult-use cannabis brands and products.
 
High park “We’re thrilled High Park will have the opportunity to supply the province of Nova Scotia with a safe, secure and reliable source of adult-use cannabis products,” said Adine Fabiani-Carter, Chief Marketing Officer at High Park. “Our intention is to deliver on the high expectations Nova Scotians have of us by cultivating and distributing a portfolio of world-class adult-use brands and products that will lead the market in quality, excellence and craftsmanship.” 
 

High Park Farms Receives Cannabis Cultivation License From Health Canada

CANADA:  High Park Farms announced that it has received a federal license from Health Canada to cultivate cannabis under the Access to Cannabis for Medical Purposes Regulations (ACMPR). The High Park Farms facility, which is anticipated to represent an investment of up to $30 million, features 13 acres of greenhouse on 100 acres of property in Enniskillen, Ontario.

“This license is a major milestone for High Park as we work to prepare for the anticipated launch of the world’s largest federally legal cannabis market later this year,” said Adine Carter, Chief Marketing Officer of High Park.

High Park Farms will begin cultivating cannabis plants in its greenhouse next week and anticipates its first harvest in June. In accordance with the Cannabis Act introduced in Canadian parliament in April 2017, High Park Farms anticipates that its ACMPR cultivation license will provide the company the ability to supply the adult-use cannabis market in Canada once the legislation is adopted.

High Park launched earlier this month to produce and distribute a broad-based portfolio of cannabis brands and products for the Canadian market in anticipation of adult-use legalization. Based in Toronto and led by a team with deep experience in cannabis and global consumer brands, High Park has secured the exclusive rights to produce and distribute a broad-based portfolio of adult-use cannabis brands and products in Canada, subject to applicable laws and regulations. In addition, High Park has developed new brands and products for the Canadian market. Pending federal legalization of cannabis for adult-use and corresponding provincial legislation, High Park anticipates fulfilling adult-use supply agreements in QuebecManitoba, and Yukon. High Park plans to secure additional supply agreements with crown corporations and private entities in other provinces in the coming months.