Press Releases
Tilray receives first new cannabis cultivation license in Germany under new regulations
A new cannabis cultivation license has been granted to Tilray's Aphria RX facility in Germany, enabling a nearly 5-fold increase in production and new strains to improve patient access across the country. Aphria RX designed with guidance from renowned cannabis producer Broken Coast Cannabis.
Cantanhede, July 22, 2024 – (“Tilray”) (Nasdaq: TLRY; TSX: TLRY) Tilray, a global leader in cannabis research, cultivation, production and distribution, announced that its cannabis cultivation facility in Germany, Aphria RX GmbH (“Aphria RX”), received the first new cannabis cultivation license, issued under MedCanG, the new Cannabis Law in Germany. The new cannabis cultivation license allows Aphria RX to cultivate and manufacture a wide range of commercial medical cannabis, providing patients with better access to high-quality medical cannabis produced in Germany.
Tilray Chief Strategy Officer and International Director Denise Faltischek commented: “We are excited to receive this license as it will provide greater access to the highest quality medical cannabis produced in Germany and will allow us to expand the range of treatment options available to patients. We appreciate the trust the German government has placed in Tilray and are proud of our team for their innovative work in growing medical cannabis and caring for patients.”
In May 2019, Aphria RX received the most comprehensive license for the cultivation of medicinal cannabis in Germany from the German Federal Institute for Medicines and Medical Devices (the “BfArM”) and was allocated a total of five batches (1.000 kg ) and was the only licensed producer in Germany permitted to cultivate all three medicinal cannabis varieties approved by the BfArM.
The introduction of the MedCan-G Act in Germany has led to a significant increase in the number of medical cannabis patients and prescribers. With the new cannabis license, Tilray is well positioned to make the most of the market opportunity. Additionally, Aphria RX can now fully utilize and maximize its cultivation capacity, while expanding its genetics to a total of 31 approved strains, from the three previously approved strains. Originally designed with the guidance of Kevin Anderson, the highly regarded Broken Coast cannabis grower, Aphria RX can now replicate Broken Coast growing conditions, maximizing Aphria RX's potential as a craft grower premium.
As a leader in the field of medical cannabis research and production, Tilray firmly believes that these developments will have a positive impact on the health and well-being of many patients in Germany. It hopes to explore the path opened by the German government and all interested parties in promoting better access to medical cannabis and the opportunity to optimize care for its patients.
About Tilray Medical
Tilray Medical is dedicated to transforming lives and advancing patient dignity through safe, reliable access to a global portfolio of medical cannabis brands, including Tilray, Aphria, Broken Coast, Symbios and Navcora. Tilray Medical grew from being one of the first companies to become a licensed and approved producer of medical cannabis in Canada and built the first GMP certified cannabis production facilities in Europe, first in Portugal and later in Germany. Today, Tilray Medical is one of the largest suppliers of medical cannabis brands to patients, doctors, hospitals, pharmacies, researchers and governments in more than 20 countries on five continents.
For more information, consult the website of Tilray Medical Europe or Tilray Medical Portugal.
About Tilray brands
Tilray Brands, Inc. (“Tilray”) (Nasdaq: TLRY; TSX: TLRY), is a leading global cannabis lifestyle and consumer packaged goods company with operations in Canada, the United States, Europe, in Australia and Latin America, which is changing people's lives for the better – one person at a time – inspiring and empowering a global community to live their best lives, enhanced by moments of connection and well-being. Tilray's mission is to be the world's most responsible, trusted and market-leading cannabis consumer products company with a portfolio of innovative, high-quality brands that respond to the needs of consumers, clients and patients. A pioneer in cannabis research, cultivation and distribution, Tilray's unprecedented production platform supports more than 20 brands in more than 20 countries, including comprehensive cannabis offerings, hemp-based foods and craft beverages.
For more information about how we unlock a world of well-being, visit Tilray.com and follow @Tilray on all social platforms.
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 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 harbor” created by those sections and other applicable laws. Forward-looking statements can be identified by words such as “forecast,” “future,” “should,” “could,” “allow,” “potential,” “contemplate,” “believe,” “anticipate,” “estimate,” “plan ”, “expects”, “intends”, “may”, “projects”, “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, targets, projections or assumptions have been used to reach the conclusions contained in the forward-looking statements throughout this communication. Forward-looking statements include statements about our intentions, beliefs, projections, outlook, analysis or current expectations regarding, among other things, the Company's ability to increase market share and increase revenue opportunities in Germany and throughout Europe. Many factors could cause actual results, performance or achievements to differ materially from any forward-looking statements, and other risks and uncertainties not currently known to the Company or which the Company considers to be immaterial may also cause actual results or events to differ materially. those expressed in the forward-looking statements contained herein. For a more detailed discussion of these risks and other factors, see 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 the SEC and available at E D G A R. The forward-looking statements included in this communication are made as of the date of this communication and the Company undertakes no obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise, unless required by applicable securities laws.
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[Disclaimer: Please note that this text was originally written in Portuguese and is translated into English and other languages using an automatic translator. Some words may differ from the original and typos or errors may occur in other languages.]____________________________________________________________________________________________________
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