Companies and Brands
Why Tilray Is Hitting All-Time Highs
Published:
Last Updated:
Tilray Inc. (NASDAQ: TLRY) shares hit an all-time high on Monday after the company announced a new partnership with the Nova Scotia Liquor Corp. (NSLC) to receive an initial purchase order for adult-use cannabis.
The purchase order would allow Tilray, one of 14 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.
Tilray intends to fulfill NSLC purchase orders through its affiliate High Park Holdings, which was formed to produce and distribute a broad-based portfolio of adult-use cannabis brands and products.
NSLC’s initial purchase order from Tilray includes these seleced brands:
- Marley Natural, crafted with deep respect for wellness and the positive potential of the herb, Marley Natural offers four categories of cannabis whole-flower and pre-rolls; Marley Green (hybrid), Marley Gold (sativa), Marley Red (high-CBD) and Marley Black (indica).
- CANACA, offers the best of Canadian bud in a variety of celebrated cannabis strains available in whole-flower and pre-rolls.
Adine Fabiani-Carter, chief marketing officer at High Park, commented:
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. 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.
Shares of Tilray were last seen up 21% at $52.95, with a consensus analyst price target of $34.67 and a 52-week range of $20.10 to $54.16.
24/7 Wall St.Sponsored: Find a Qualified Financial Advisor
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
