CANADA: Tilray, a global pioneer in cannabis cultivation, processing and distribution, has signed a Letter of Intent (LOI) with Société des alcools du Québec (SAQ) to supply the province of Quebec with high-quality cannabis products in anticipation of adult-use legalization later this year.
“This LOI is another major milestone for us as we aim to build the world’s most trusted cannabis company,” said Brendan Kennedy, Tilray Chief Executive Officer. “We are proud that SAQ has trusted us to supply the province with high quality products.”
Under the terms of the LOI, Tilray will supply the Quebec market with up to 5,000 kg of cannabis per year across a variety of brands. Tilray has licensed trusted brands from other legal cannabis markets and created new brands for Canadian consumers, which Tilray will bring to Quebec under the terms outlined in the LOI. Tilray-branded medical products will continue to be sold exclusively in pharmacies and online through the Access to Cannabis for Medical Purposes Regulations (ACMPR).
The LOI secures a safe, regulated supply of cannabis products for Quebec from Tilray, an internationally-recognized federally-licensed producer trusted for its commitment to quality, compliance and responsibility. Tilray was the first cannabis company to be Good Manufacturing Practice (GMP) certified in accordance with the European Union standards, which has enabled the company to secure supply agreements and authorizations to dispense its products in hospitals, pharmacies and clinical trials in eight countries spanning four continents.