Tilray Launches Medical Cannabis Chocolates And Soft Chews, Boosting Product Portfolio In Canada

Canadian cannabis giant, Tilray, Inc. TLRY is launching new medical cannabis edibles.

Canadian consumers can now enjoy two formulations of 16-gram medical cannabis-infused chocolate bars and two formulations of medical cannabis soft chews.

“Whether it’s pain management, anxiety treatment, or everything in between, patients are asking for more choices in the medical cannabis category, and Tilray remains committed to the innovations that improve patient wellbeing,” Irwin D. Simon, the company’s CEO said. “As cannabis regulations evolve around the world, we look forward to offering our global patient community the highest-quality medicines they depend on for health, wellness, and wellbeing.”

The cannabis-infused chocolate bars are available in THC Milk Chocolate containing 10mg of THC and <1mg of CBD per package and CBD Dark Chocolate having 1mg of THC and 20mg of CBD per package.

Medical cannabis soft chews come in formulations dubbed Watermelon, which contains 10mg of THC, and Pineapple-Mango that features 10mg of THC and 10mg of CBD.

“Tilray continues to deliver the benefits of cannabis safely and reliably in unique formats that suit patients’ needs,” said Jim Meiers, president at Tilray Canada. “Our goal is to help provide patients access to the highest-quality medical cannabis products that can improve their quality of life, and also support them with best-in-class service and programs, so they make the choices best suited to their needs.”

Tilray Leverages SweetWater Brewing Co. To Reach US Consumers

The latest product innovation comes on the heels of the expansion of the company’s SweetWater Brewing Company, LLC, into Michigan. SweetWater Brewing teamed up with distributor O&W, Inc to reach beer lovers in the Great Lake State. The product offering includes its flagship 420 Extra Pale Ale, its juicy HAZY IPA, SweetWater Oasis Premium Hard Seltzer, and its recently launched 420 Imperial IPA.

Tilray recently reported its first financial results since the merger with Aphria in May. The report included a full quarter of the old Aphria (through May) and one month of the old Tilray.

Based in New York and Leamington, Ontario, Tilray revealed a fourth-quarter 2021 revenue growth of 25% to $142.2 million from $113.5 million in the prior-year quarter. Net cannabis revenue amounted to $53.7 million, representing a 36% growth.

Price Action

Tilray’s shares were trading 2.04% lower at $13.96 per share at the time of writing on Thursday morning.

Photo: Courtesy of Elsa Olofsson on Unsplash