In a public letter to investors, Canadian cannabis producer Tilray set the lofty goal of reachinf C$4 billion revenue, if the company can get the support from its investors for its merger and acquisition (M&A) plans.
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Tilray promises it can make C$4B in revenue if acquisition goes through
In a public plea of support for the company’s ongoing spending plans Tilray (NASDAQ:TLRY,TSX:TLRY) CEO and Chairman Irwin Simon said the company is capable of hitting a C$4 billion revenue mark by the end of its fiscal 2024, if it can complete its current acquisition strategy.
“I want to be clear: our conviction in both the opportunity and our ability to execute on these key growth plans has never been stronger. But our ability to do so rests on the support of our shareholders, from whom we have been seeking support to get important proposals passed,” Simon said in his letter.
Last week Tilray announced a densely planned manoeuvre to buy a “majority of the outstanding senior secured convertible notes” of US-based cannabis operator MedMen Enterprises (CSE:MMEN,OTCQX:MMNFF).
The executive confirmed the company currently has the support of approximately 49 percent of...
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