Tilray Announces Completion Of Series A Funding Round Led by Global Institutional Investors

C$60 million Series A financing will enable Tilray to increase production capacity and expand distribution in North America and Europe

CANADA:  Tilray has announced the completion of its Series A funding round totaling C$60 million. The round was comprised of a group of leading global institutional investors.

According to a company press release, Tilray will use the new funding to increase its existing production capacity in North America, to continue to build its European Union campus in Portugal, and to expand availability of its products to more patients and pharmacies around the globe. The terms of the Series A funding round, including Tilray’s valuation, were not disclosed.

Tilray, federally licensed in Canada and Europe, currently sells pharmaceutical-grade, GMP-certified medical cannabis products to tens of thousands of patients in eight countries. The company supplies hospitals, pharmacies and pharmaceutical distributors on four continents, and has signed supply agreements with NOWEDA, one of Germany’s largest pharmaceutical wholesalers, and Shoppers Drug Mart, Canada’s largest pharmacy chain.

Since its founding in 2014, Tilray has been wholly-owned and solely funded by Privateer Holdings, the world’s leading private equity firm investing exclusively in legal cannabis. Tilray’s Series A funding round marks the first time that outside investors have invested directly into a Privateer Holdings portfolio company. With its Series A funding and incorporation, Tilray is positioned to operate and finance its growth independent of Privateer Holdings.

Dixies’ Tripp Keber Moves To BR Brands; Co-Founder Chuck Smith Is New CEO

COLORADO:  “Pot Baron” Tripp Keber is turning over the reins of Dixie Brands to co-founder Chuck Smith.  The flamboyant co-founder is relinquishing his CEO role and will “ascend to a new role within Rose Capital affiliate, BR Brands,” according to a company press release.

Dixie Brands is the owner of Dixie Elixirs & Edibles, Therabis, and Aceso Wellness.  The release went on to announce that the company has agreed on terms to partner with Rose Capital, as its ongoing capital and strategic partner. Rose is partnering with Dixie management in a mutually designed market expansion and growth plan and will be providing on-going growth capital, strategic advisory and operational partnership. The new financing has been fully structured and is contingent on final documentation and necessary Dixie shareholder and Rose investment committee approvals. The Rose and Dixie partnership is underpinned by the same vision and thesis for the future of cannabis consumer packaged goods (“CPG”) and the need for best-in-class, responsible, consistent and dependable cannabis CPG manufacturers. This partnership reflects the marriage of the best-in-class product branding, brand awareness, and footprint of Dixie Brands with the best-in-class financial and operational expertise of Rose Capital and their strategic relationships.

As part of the broader strategic partnership, Tripp Keber, Dixie’s current President and CEO, will be joining the team at BR Brands, where he will lead brand partnership / acquisition initiatives. BR Brands will leverage Keber’s extensive network, entrepreneurial background and expansive knowledge of the North American legal cannabis industry to identify, incubate and integrate the strong brands and operators into the BR Brands ecosystem. With Keber’s move, Dixie’s Co-Founder and current Chief Operating Officer, Chuck Smith, will assume the role of President and CEO of Dixie Brands, Inc.

“Today’s announcements are further validation of the brand strength and national recognition we have developed with Dixie,“ said Chuck Smith, President and CEO of Dixie Brands, Inc. “Our partnership with Rose Capital is the exact catalyst we need to take Dixie’s best-in-class product branding, market position, and existing footprint to drive the explosive growth that Dixie is poised to capture.”

“On both a personal, and professional level, I am so honored to be part of this new partnership in this industry,” said Tripp Keber. “Although I am embarking on a new journey with BR Brands, it is truly just an extension of the vision that I saw for Dixie, and the industry, when I established Dixie with my partner and friend, Chuck Smith. I am eager to continue driving the evolution of the Cannabis market forward with BR Brands. I am able to take on this new venture because of the solid position Dixie is in, to execute our explosive growth strategy in 2018 with the leadership of Chuck and the great team of dedicated professionals at Dixie. There is much more to come for both BR Brands and Dixie and I am excited to be able to help shape the future of both.”