TORONTO--(BUSINESS WIRE)--Tilray Canada Ltd. (“Tilray”), a wholly owned subsidiary of Tilray, Inc. (Nasdaq: TLRY), announced today that it has received a purchase order from the Prince Edward Island Cannabis Management Corporation (“PEICMC”) for adult-use cannabis. The purchase order will allow Tilray to supply the province of Prince Edward Island’s four cannabis stores and online channels with cannabis products in anticipation of the launch of the adult-use market on October 17, 2018. Tilray intends to fulfill PEICMC purchase orders through its affiliate High Park Holdings Ltd., DBA High Park Company™ (“High Park”), which was formed to produce and distribute a broad-based portfolio of adult-use cannabis brands and products.
“We’re thrilled High Park will have the opportunity to expand our national reach and grow our retail network by supplying Prince Edward Island’s four cannabis stores with a safe, secure and reliable source of adult-use cannabis products,” said Adine Fabiani-Carter, Chief Marketing Officer at High Park. “Our intention is to deliver on the expectations the people of P.E.I. have of us by cultivating and distributing a selection of products that will lead the market in quality, excellence and craftsmanship.”
The High Park portfolio is uniquely crafted and grown by master horticulturists dedicated to sustainable growing practices. Select products will be made available on Prince Edward Island through retail stores starting October 17, 2018, the anticipated date of launch for adult-use cannabis products on Prince Edward Island.
Tilray is a global pioneer in cannabis research, cultivation, processing and distribution currently serving tens of thousands of patients in eleven countries spanning five continents.
About High Park
Based in Toronto and led by a team with deep experience in cannabis and global consumer brands, High Park was established to develop, sell, and distribute a broad-based portfolio of adult-use cannabis brands and products.
This press release contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of Canadian securities laws, or collectively, forward-looking statements. Forward-looking statements in this press release 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 to the agreement between Tilray and the PEICMC and Tilray’s intentions to cultivate and produce a selection of cannabis brands. 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, the current and future regulatory environment and future approvals and permits. 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, including the risks discussed under the caption “Risk Factors” in Tilray, Inc.’s Quarterly Report on Form 10-Q for the three and six months ended June 30, 2018 (a copy of which may be obtained at www.sec.gov and www.sedar.com), 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. Tilray does not undertake and specifically declines any obligation to update any forward-looking statements that are included herein, except in accordance with applicable securities laws.