In the cannabis space this week, Tilray (NASDAQ:TLRY,TSX:TLRY) shared its latest financial results and later reaffirmed its US market aspirations.
Also during the period, it was confirmed that the relationship between a Canadian cannabis producer and a brand created by a celebrity has ended.
Keep reading to find out more cannabis highlights from the past five days.
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Tilray outlines “aggressive” strategy for potential US entry
On Wednesday (June 28), Canadian cannabis producer Tilray offered investors a closer look at its finances for the entire 2021 fiscal year alongside its Q4 period.
While the company reported a net gain for the quarter, US$33.6 million to be exact, the firm still posted a net loss for the year as a whole, reporting US$336 million. Tilray blamed the costs on its gigantic business merger and a US$170.5 million loss of convertible debentures.
“Early results from the new Tilray affirm that, while the global cannabis market remains in its early stages, our vision, scale, access to resources and operational excellence position us optimally to capitalize on the opportunity,” Irwin Simon, CEO and chairman at Tilray, told investors.
In a separate interview with BNN Bloomberg, Simon said the company is evaluating the potential acquisition of a US cannabis operator in an attempt to get ahead of new policy in the country....
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