Tilray Brands Stockholders Approve Charter Amendment to Enhance Corporate Governance and Support Strategic Growth Plan
16 März 2023 - 09:15PM
Tilray Brands, Inc. (“Tilray Brands” or the “Company”) (NASDAQ |
TSX: TLRY), a leading global cannabis-lifestyle and consumer
packaged goods company, announced today that Tilray Brands’
stockholders formally approved an amendment to the Company’s
Certificate of Incorporation (the “Charter Amendment”). The Charter
Amendment will, at the effective time of filing, cancel the
Company’s authorized but unissued Class 1 Common Stock and
re-allocate such authorized shares to Class 2 Common Stock. At the
effective time of filing the Charter Amendment, the Company’s
“Class 2 Common Stock” will be reclassified and designated as
“Common Stock”. The Charter Amendment is described in more detail
in the Company’s Proxy Statement dated September 22, 2022, as
supplemented on February 21, 2023.
Irwin D. Simon, Tilray Brands’ Chairman and
Chief Executive Officer said: “On behalf of our Board of Directors
and management team, we thank our stockholders for their strong
support of Tilray’s Charter Amendment and our strategic growth
plan. We are forging an entirely new kind of CPG company that is
responsive to the times, aligned with consumers, and poised to
deliver meaningful value over the coming years. Our confidence in
Tilray Brands’ long-term potential to drive shareholder value is
underpinned by proven results - achieved amid challenging market
conditions – including the #1 cannabis market share position in
Canada, the largest federally legal cannabis market in the world,
leading medical cannabis market share in Germany and across Europe,
and a leading U.S. CPG and craft-beverage portfolio.”
Mr. Simon continued: “I am confident that we
will continue executing against our strategic plan in creating the
leading and most diversified cannabis lifestyle and CPG company in
the world as we actively pursue organic growth opportunities as
well as accretive and strategic acquisition opportunities in the
U.S., Canada, and globally.”
About Tilray Brands
Tilray 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, enhanced by moments of connection and
wellbeing. Patients and consumers trust Tilray Brands to be the
most responsible, trusted and market leading cannabis 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, Tilray Brands’
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 Tilray Brands, visit
www.Tilray.com and follow @Tilray
Cautionary Statement Concerning
Forward-Looking Statements
Certain statements in this press release
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,
our ability to drive shareholder value and achieve leading market
share positions in our respective markets.
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 the Company
and the Annual Report on Form 10-K (and other periodic reports
filed with the SEC) of the Company 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:
Media: Berrin Noorata, news@tilray.comInvestors: Raphael Gross,
+1-203-682-8253, Raphael.Gross@icrinc.com
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