Tilray is expanding the medical cannabis footprint in Europe


NEW YORK–(BUSINESS WIRE) – Tilray, Inc. (“Tilray”) (NASDAQ | TSX: TLRY), a global pioneer in the research, cultivation, production and distribution of medicinal cannabis, announced today that it has been appointed by the Luxembourg Ministry of Health as a supplier Good Manufacturing Practice (GMP) certified medical cannabis products was selected for the country’s medical cannabis program.

Following this selection, Tilray will offer a wide variety of its medicinal cannabis products in pharmaceutical quality, including extracts and dried flowers with varying levels of THC and CBD for patients with various medical conditions. These prescription medical cannabis products are administered to eligible patients in Luxembourg under medical supervision.

Irwin D. Simon, Chairman and Chief Executive Officer, said, “We believe that Tilray’s growth potential in the European Union represents a $ 1 billion opportunity, and today’s announcement confirms that we are turning potential into performance. With today’s validation by the Luxembourg Ministry of Health, Tilray now offers branded medical cannabis in 20 countries around the world – proof of our high standards and our status as a trusted partner for patients in need. We are proud to build this unrivaled global platform and will continue to advocate patient access in Europe and countries around the world. ”

Denise Faltischek, Head of International and Chief Strategy Officer, added, “Tilray’s mission includes the unwavering belief that patients around the world should have access to safe, high quality cannabinoid-based medicines. We are proud to extend these efforts to Luxembourg and provide pharmaceutical grade medical cannabis products to patients in need. We strive to be a trusted partner and we will continue to leverage our strong medical platform to improve access to the highest quality medical cannabis for patients worldwide. ”

Tilray operates two state-of-the-art GMP certified cannabis growing facilities in Europe in Cantanhede, Portugal and Neumünster, Germany. The EU campus in Portugal is a versatile manufacturing facility that includes the cultivation, extraction, processing and packaging of medical cannabis. It also serves as a hub to support Tilray’s clinical research and product development efforts across Europe. In addition, Tilray has entered into sales and distribution agreements for the supply of medical cannabis through key pharmaceutical distribution channels, including CC Pharma, throughout Germany and the EU, which give patients access to Tilray’s GMP-certified finished medical cannabis.

About Tilray

Tilray, Inc. (Nasdaq: TLRY; TSX: TLRY) is a leading global cannabis lifestyle and consumer goods company with offices in Canada, the United States, Europe, Australia, and Latin America that is transforming people’s lives for the better – one person at a time others – by inspiring and empowering the global community to live their best life by providing them with products that meet the needs of the mind, body and soul and evoke a sense of wellbeing. Tilray’s mission is to be the trusted partner for its patients and consumers by providing them with a refined experience, health and wellbeing through high quality, differentiated brands and innovative products. As a pioneer in cannabis research, cultivation and distribution, Tilray’s unparalleled manufacturing platform supports over 20 brands in over 20 countries, including a full range of cannabis, hemp-based foods and alcoholic beverages.

For more information on Tilray and Tilray Europe, please visit www.Tilray.eu.com

Forward-Looking Statements

Certain statements in this release that are not historical facts constitute forward-looking information or forward-looking statements (collectively, “forward-looking statements”) under Canadian securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be subject to the “safe haven” created by these Sections and other applicable laws. Forward-looking statements are accompanied by words such as “predict”, “future”, “should”, “could”, “enable”, “potentially”, “consider”, “believe”, “anticipate”, “estimate”, “plan”, ” expect, “intend,” “may,” “project,” “will”, “would” and negation of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Certain material factors, estimates, goals, projections, or assumptions were used in drawing the conclusions contained in the forward-looking statements contained in this release. Many factors could cause actual results, performance or achievements to differ materially from those forward-looking statements, and other risks and uncertainties, which the company is not currently aware of or which the company believes to be immaterial, could also cause actual results or events differ materially from those expressed in the forward-looking statements contained herein. For a more detailed discussion of these risks and other factors, please refer to Tilray’s most recently filed Annual Information Form and Tilray’s Annual Report on Form 10-K (and other periodic reports filed with the SEC) filed with applicable securities regulators and available on SEDAR and EDGAR. The forward-looking statements contained in this release are as of the date of this release, and the company undertakes no obligation to publicly update such forward-looking statements to reflect new information, future events or otherwise, except as required by applicable securities laws.