Tilray Brands, Inc. ("Tilray" or the "Company") (Nasdaq: TLRY; TSX: TLRY), a leading global cannabis-lifestyle and consumer packaged goods company inspiring and empowering the worldwide community to live their very best life, today announced that its medical cannabis division, Tilray Medical, has received approval and verification from The Natural Health Science Foundation ("NHSF") of its flagship product, Tilray Purified Oral Solution (“OS”) CBD100, to be used in clinical trials in Australia and New Zealand.

Denise Faltischek, Chief Strategy Officer and Head of International, Tilray Brands, said, “The NHSF (Natural Health Science Foundation) Quality and Equivalency test approval is a testament to the high standards Tilray Medical upholds across all international cannabis markets. As Tilray continues to grow, we are extremely proud to be recognized as a trusted cannabis partner and for the quality standards we deliver for patients worldwide.”

George Polimenakos, General Manager, Tilray Medical ANZ (Australia and New Zealand) noted, "We are extremely pleased with this outcome and proud to provide EU-GMP certified products to patients in Australia and New Zealand. Having our product quality validated by the NHSF demonstrates Tilray's commitment to delivering the highest quality cannabis products to our patients.”

The NHSF is an independent not-for-profit organization that assists patients, consumers, and healthcare professionals in making informed natural medicine choices based on robust science. NHSF believes natural medicines will be valuable in modern scientific medical practice if they follow best practices of quality, safety, and efficacy through transparency and evidence.

Nigel Pollard, Chairman, Natural Health Science Foundation, said, "Tilray Purified OS CBD100 has been thoroughly assessed by independent experts and has met the Quality & Equivalence standards of the Natural Health Science Foundation. This means the product has a basis of reproducibility which serves as a valid medical intervention, from a scientific point of view, for patient use and to test in a clinical trial."

In addition to the approval received from the NHSF standard of scientific reproducibility for clinical trials, the New Zealand Ministry of Health has verified that the Tilray Purified OS CBD100 has met its quality standards to ensure consistency of the products that medical practitioners prescribe to their patients.

Tilray Medical is one of the leading providers of medical cannabis in Australia and New Zealand for commercial, compassionate access, and research purposes. Patients in Australia and New Zealand may seek access to medical cannabis products by consulting their healthcare practitioner.

About Tilray Medical Tilray Medical is dedicated to transforming lives and fostering dignity for patients in need through safe and reliable access to a global portfolio of medical cannabis brands, including Tilray, Aphria, Broken Coast, and Symbios. Tilray grew from being one of the first companies to become an approved licensed producer of medical cannabis in Canada to building the first GMP-certified cannabis production facilities in Europe, first in Portugal and later in Germany. Today, Tilray Medical is one of the biggest suppliers of medical cannabis brands to patients, physicians, hospitals, pharmacies, researchers, and governments, in 20 countries and across five continents.

For more information about Tilray Medical in Australia and New Zealand, visit: https://www.tilray.com.au/

For more information about Tilray’s medicinal cannabis workshops in Australia, visit: https://tilray.medihuanna.com/

About Tilray BrandsTilray Brands, Inc. (Nasdaq: TLRY; TSX: TLRY), is a leading global cannabis-lifestyle and consumer packaged goods company with operations in Canada, the United States, Europe, Australia, and Latin America that is changing people's lives for the better – one person at a time. Tilray Brands delivers on this mission by inspiring and empowering the worldwide community to live their very best life and providing access to products that meet the needs of their mind, body, and soul while invoking wellbeing. Patients and consumers trust Tilray Brands to deliver a cultivated experience and health and well-being through high-quality, differentiated brands and innovative products. A pioneer in cannabis research, cultivation, and distribution, Tilray’s unprecedented production platform supports over 20 brands in over 20 countries, including comprehensive cannabis offerings, hemp-based foods, and craft beverages.

For more information on how we open a world of well-being, visit www.tilray.com and follow @tilray on all social platforms.

Forward-Looking StatementsCertain 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, 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: expectations regarding the performance and scale of the Company, including Tilray Medical; and the Company’s ability to expand its offering to patients worldwide, including via Tilray Medical. 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.

For further information: MediaBerrin NoorataTilray Global: news@tilray.com

InvestorsRaphael Gross203-682-8253Raphael.Gross@icrinc.com 

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