Tilray To Report Q3 Financial Highlights On Heels Of Deal With HEXO

Tilray Brands, Inc. TLRY TLRY has announced that it will release financial results for its third-quarter fiscal 2022 ended February 28, 2022, before financial markets open on April 6, 2022.

The company's executives will host a live conference call and audio webcast to discuss these results.

Live Conference Call & Audio Webcast Info:

• Date/Time: Wednesday, April 6, 2022, at 8:30 am Eastern Time.
• Call-in Number: (877) 407-0792 from Canada and the U.S. or (201) 689-8263 from international locations. Please dial in at least 10 minutes prior to the start time.
• A telephone replay will be available approximately two hours after the call concludes and through April 22, 2022. To access the recording, dial (844)-512-2921 from Canada and the U.S. or (412) 317-6671 from international locations and use the passcode 13728025.
• There will be a simultaneous, live webcast available on the Investors section of Tilray's website at www.tilray.com. The webcast will also be archived. Tilray's third-quarter earnings call will be syndicated live to retail investors on the Public.com app.

Recent Moves

The Canadian cannabis giant recently formed a strategic alliance with HEXO Corp. HEXO, which includes a new debt financing agreement.

Under the agreement, Tilray will acquire $211 million of senior secured convertible notes that HEXO initially issued to HT Investments MA LLC.

In addition to bringing together Canada's top two cannabis market share leaders, the new partnership is expected to create efficiencies of up to CA$50 million ($39.57 million) within two years, which will be shared equally between HEXO and Tilray.

Irwin D. Simon, Tilray's chairman, and CEO who will give the keynote speech at the upcoming Benzinga Cannabis Capital Conference in Miami called the transaction "a win-win" for both companies that would "launch a strategic partnership between two leading Canadian cannabis producers with complementary brand portfolios."

On March 8, HEXO elected seven directors ahead of reporting a staggering net loss of CA$690.2 million ($546 million) in the second quarter of fiscal 2022.

Meanwhile, Tilray Medical expanded its medical marijuana offering earlier this month when it launched the first EU GMP medical cannabis oil products in Malta.

Price Action

Tilray's shares traded 0.60% lower at $8.27 per share during the pre-market session on Wednesday morning.

Photo: Courtesy of Towfiqu barbhuiya on Unsplash