TORONTO, ONTARIO – October 17, 2023 – Tilray Brands, Inc. ("Tilray" or the "Company") (Nasdaq: TLRY; TSX: TLRY), a leading global cannabis-lifestyle and consumer packaged goods company, today announced a new sustainability campaign and hemp packaging transition across its best-selling Canadian cannabis brand Good Supply®[1]. Taking the lead as the first brand in Tilray’s cannabis portfolio to fully transition to environmentally friendly materials, the team has overhauled the brand’s packaging and componentry of all whole flower bags, pre-rolls, and vape tubes, along with vape mouthpieces, to minimize the amount of single-use plastics used.
The Canadian cannabis industry has faced ongoing challenges in embracing eco-friendly choices when it comes to product packaging. Recognizing the transformative shift toward more sustainable packaging practices, this changeover is not only good for the planet, but for the business; Tilray’s research suggests that consumers are 50% more likely to purchase a cannabis product that came in sustainable packaging versus one that doesn’t[2]. Listening to consumers’ feedback and concerns, the mission around sustainability meets the needs of more eco-conscious, and frequent cannabis consumers, sharing active awareness of increased waste production in the industry.
Good Supply® is rolling out new sustainable hemp packaging for pre-rolls, vapes, and flower:
Pre-rolls and 1g Pax Pods Cartridges: For their pre-rolls and 1g Pax Pods offerings, Good Supply® has produced new eco-friendly hemp tubes for easy transport and consumer convenience.
510 Vape Cartridges: Good Supply® is bringing consumers sleek new hemp composite mouthpieces for its best-selling collection of 510 vape cartridges.
Whole Flower: Moving away from traditional plastic bags for whole flower, Good Supply® moves into bags made from recycled content, diverting over 38,000kg of plastic waste yearly.
Good Supply® new hemp tubes and vape mouthpieces are green in more ways than one – they’re biodegradable, so at the end of their lifecycle, they can be composted in organic processing or landfill facilities.
With this new sustainable hemp packaging program, Tilray is able to divert +131,000kg of plastic from landfills each year[3]. In partnership with PrintReleaf™,Tilray has also reforested 2000+ trees (as of August 2023 and counting) from label usage, to offset +150,000lbs worth of paper consumption.
Good Supply® embraces the mindset of ‘Green You Can Feel Good About’, re-enforcing the notion that consumers can feel good about every aspect of their cannabis purchase, from the product to the packaging that comes with it. Join their sustainability journey as they produce quality cannabis products made with environmentally conscious materials that consumers and the planet deserve.
Later this year, Tilray will continue to roll out new sustainable hemp packaging for its brands across Canada including RIFF® and Broken Coast®, emphasizing its sustainability efforts towards shaping a greener future for the cannabis industry.
About Good Supply
Good Supply is one of Canada's leading cannabis brands and has been recognized as #1 in flower, and best-selling pre-rolls, vapes, and concentrates, and has become a favourite among consumers and budtenders. At Good Supply, good is the new great. Rooted in classic strains that punch above their weight, Good Supply delivers consistent, hard-hitting quality at affordable prices. Explore classic strains, innovative formats, and new flavours – we’re always up for a good time.
To learn more about Good Supply, visit www.goodsupplycannabis.com and follow @goodsupplycannabis.
About Tilray Brands
Tilray Brands, Inc. (Nasdaq: TLRY; TSX: TLRY), is a leading global cannabis-lifestyle and consumer packaged goods company with four distinct and complementary business segments including medical and adult-use cannabis, medical distribution, wellness foods, and beverage-alcohol. Tilray Brands is on a mission to change people’s lives for the better – one person at a time - by inspiring and empowering the worldwide community to live their very best life, enhanced by moments of connection and wellbeing. Patients and consumers trust Tilray Brands to be the most responsible, trusted and market leading cannabis and consumer products company in the world with a portfolio of innovative, high-quality, and beloved brands that address the needs of the consumers, customers, and patients we serve. A pioneer in cannabis research, cultivation, and distribution, today Tilray Brands’ unprecedented and diversified production platform supports a portfolio of best-in-class brands in over 20 countries including comprehensive adult-use and medical cannabis offerings, hemp-based foods, and craft beverages across North America, Europe, Australia, and Latin America.
For more information on Tilray Brands, visit Tilray Brands, Inc. and follow @Tilray on Instagram, Twitter, Facebook, and LinkedIn.
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Forward-Looking Statements
Certain statements in this communication that are not historical facts constitute forward-looking information or forward-looking statements (together, “forward-looking statements”) under Canadian and U.S. 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, that are intended to be subject to the “safe harbor” created by those sections and other applicable laws. Forward-looking statements can be identified by words such as “forecast,” “future,” “should,” “could,” “enable,” “potential,” “contemplate,” “believe,” “anticipate,” “estimate,” “plan,” “expect,” “intend,” “may,” “project,” “will,” “would” and the negative 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 throughout this communication. Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses, or current expectations concerning, among other things, the Company’s ability to commercialize new and innovative products worldwide and achieve listed sustainability forecasts. Many factors could cause actual results, performance, or achievement to be materially different from any forward-looking statements, and other risks and uncertainties not presently known to the Company or that the Company deems immaterial could also cause actual results or events to differ materially from those expressed in the forward-looking statements contained herein. For a more detailed discussion of these risks and other factors, see the most recently filed annual information form of Tilray and the Annual Report on Form 10-K (and other periodic reports filed with the SEC) of Tilray made with the SEC and available on EDGAR. The forward-looking statements included in this communication are made as of the date of this communication and the Company does not undertake any obligation to publicly update such forward-looking statements to reflect new information, subsequent events, or otherwise unless required by applicable securities laws.
Contacts:
Media:
Kaitlin Macapagal
Investors
Raphael Gross
203-682-8253
Raphael.Gross@icrinc.com
[1] Produced in accordance with Health Canada Processing and Cultivation licence by Aphria Inc., a subsidiary of Tilray Brands, Inc.
[2] Source: Based on primary research conducted with Suzy Insights providing custom quantitative consumer research, surveying 200 cannabis past-6 month consumers and non-rejectors of vapes, national Canadian representation (excl. Quebec); October 2022.
[3] Disclaimer: This numeric value towards plastic diversion is based on annual Good Supply sales volumes as of June 2023.
