Company unveils three new brands exclusive to the Canadian adult-use market.
High Park signs MOU with the LDB to supply a variety of cannabis brands for sale to the BC market
TORONTO, ON – High Park Company™ (“High Park”) announced today that the company has signed a Memorandum of Understanding (MOU) with the BC Liquor Distribution Branch (LDB) to supply British Columbia cannabis retailers with a diverse array of cannabis products in anticipation of legalization later this year.
“As a company with its roots in BC, we are pleased to work with the LDB towards a supply of cannabis for the BC market,” said Adine Fabiani-Carter, Chief Marketing Officer at High Park. “Our goal is to deliver on the high expectations that British Columbians have of us by cultivating and distributing a portfolio of high-quality adult-use products.”
“We are thrilled to be reaching this significant milestone in developing a competitive wholesale assortment for non-medical cannabis,” said Blain Lawson, LDB’s general manager and CEO. “The volume, variety and quality of our product assortment speak to the LDB’s commitment to working towards eliminating the illicit market.”
Under the terms of the MOU, High Park and LDB will negotiate a definitive agreement to supply the BC market with a variety of new and established cannabis brands and products once adult-use cannabis legalization takes effect, as expected, later this year.
About High Park Company™
High Park Company, an affiliate company of Tilray Canada Ltd., was established to develop, sell, and distribute a broad-based portfolio of world-class cannabis brands and products.
For further information: Berrin Noorata, Berrin.Noorata@HighParkCompany.com
Tilray Inc. Launches Initial Public Offering
Tilray Inc., a vertically-integrated and federally-licensed cannabis cultivator, processor and distributor, today announced that it has launched an initial public offering (IPO) of its Class 2 common stock pursuant to a registration statement on Form S-1 previously filed with the United States Securities and Exchange Commission (the “SEC”). Tilray has applied to list its common stock on the Nasdaq Global Select Market under the ticker symbol “TLRY”.
Tilray is offering 9,000,000 shares of Class 2 common stock at an initial price to the public between US$14.00 and US$16.00 per share (approximately CAD$18.40 to CAD$21.00 per share1). Tilray intends to grant the underwriters a 30-day over-allotment option to purchase up to 1,350,000additional shares.
In order to qualify the offering of securities in Canada and to ensure that purchasers in Canada are not subject to restrictions on resale, Tilray has also filed a preliminary prospectus for a proposed IPO in Canada with the securities regulatory authorities in each province of Canada other than the Province of Quebec. Tilray does not intend to list on any stock exchange in Canada.
Cowen and BMO Capital Markets are acting jointly as book-runners for the proposed IPO. Cowen is acting as the sole book-running manager for the IPO in the United States, and BMO Capital Markets is acting as the sole book-running manager for the IPO in Canada. Eight Capital is acting as lead manager for the IPO in Canada. In the United States, Roth Capital Partners is acting as lead manager and Northland Capital Markets is acting as a co-manager for the IPO.
The offering will be made only by means of a prospectus. Copies of the U.S. preliminary prospectus may be obtained from the SEC’s website or from Cowen by contacting Cowen c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department. Phone: (631) 274-2806. Copies of the Canadian preliminary prospectus may be obtained from www.sedar.com or from BMO Capital Markets by contacting BMO Capital Markets, Brampton Distribution Centre c/o The Data Group of Companies, 9195 Torbram Road, Brampton, Ontario, L6S 6H2 or by telephone at (905) 791-3151 Ext 4312 or by email at email@example.com.
A registration statement on Form S-1 relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
1Based approximately on the Bank of Canada daily exchange rate on July 5, 2018 of C$1.3129 = US$1.00
This press release contains “forward-looking statements”, which may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, including statements in respect of the initial price range of Tilray`s initial public offering, the over-allotment option and Tilray`s intentions with respect to stock exchange listings. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including assumptions in respect of current and future market conditions. Actual results, performance or achievement could differ materially from that expressed in, or implied by, any forward-looking statements in this press release, and, accordingly, you should not place undue reliance on any such forward-looking statements and they are not guarantees of future results. Forward-looking statements involve significant risks, assumptions, uncertainties and other factors that may cause actual future results or anticipated events to differ materially from those expressed or implied in any forward-looking statements, including that the eventual offering price in respect of the initial public offering may fall outside of the price range provided in the registration statement and the prospectus . Please see the heading “Risk Factors” in the registration statement and the prospectus for a discussion of the material risk factors that could cause actual results to differ materially from the forward-looking information. Tilray does not undertake to update any forward-looking statements that are included herein, except in accordance with applicable securities laws.
CANACA™ cannabis expected to be in market this fall in conjunction with Canadian legalization
Toronto, Ont. – In celebration of Canada Day, High Park Company™ (High Park) today announced the launch of CANACA™, its new cannabis brand celebrating Canadian roots, values and this historical moment in Canada as the country leads up to becoming the world’s first G7 nation to federally legalize cannabis through adult-use legalization.
“As we celebrate Canada Day, we wanted to pay homage to this incredible moment in Canadian history by announcing our new CANACA brand,” says Adine Fabiani-Carter, Chief Marketing Officer, High Park Company. “CANACA stands for the true Canadian experience and the best of Canadian bud.”
The CANACA product line will offer a variety of celebrated cannabis strains in whole-flower and pre-rolls. CANACA cultivars are grown by master horticulturists who are dedicated to sustainable practices.
High Park expects to make the brand available across Canada starting October 17, 2018, the expected date of adult-use legalization in Canada.
CANACA Gives Back
CANACA will further celebrate its homegrown pride by launching Canaca Commons™, a community where like-minded Canadians can celebrate their appreciation for local communities. Each year, CANACA will commit to funding local community causes that improve the everyday lives of Canadians.
About High Park Company
High Park Company, an affiliate company of Tilray Canada Ltd., was established to develop, sell, and distribute a broad-based portfolio of cannabis brands and products.
For further information: Chrissy Roebuck, 1-416-560-5712, firstname.lastname@example.org or Michael Usling, 1-905-599-7749, email@example.com