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Tilray Brands, Inc. TLRY

Alternate Symbol(s):  T.TLRY

Tilray Brands, Inc. is a global cannabis-lifestyle and consumer packaged goods company. The Company operates through four segments: Cannabis business, Distribution business, Beverage alcohol business and Wellness business. The Cannabis business segment is engaged in the production, distribution, sale, co-manufacturing, and advisory services of both medical and adult-use cannabis. The Distribution business segment is focused on the purchase and resale of pharmaceutical products to customers. The Beverage alcohol business segment is engaged in the production, marketing and sale of beverage and beverage alcohol products. The Wellness business segment includes hemp foods and hemp-based cannabidiol (CBD) consumer products. The Company offers a portfolio of adult-use brands and products and expands its portfolio to include new cannabis products and formats. Its brands include Good Supply, RIFF, Broken Coast, Solei, Canaca, HEXO, Redecan, Original Stash, Bake Sale, XMG, Mollo, and others.


NDAQ:TLRY - Post by User

Post by av8tor42on Sep 09, 2022 6:49am
461 Views
Post# 34951488

Tilray news release ‘not correct,’ German lawmaker says

Tilray news release ‘not correct,’ German lawmaker says

German government officials are questioning the veracity of some key facts in a recent news release by cannabis producer Tilray Brands, telling MJBizDaily their meeting with Tilray representatives was “a one-time conversation” and “not part of the preparatory phase” of marijuana legalization.

Tilray, headquartered in New York, said in a news release dated Sept. 6 it held a “policy roundtable” with German officials on adult-use cannabis legalization, including:

  • Burkhard Blienert, commissioner on narcotic drugs at the Federal Ministry of Health.
  • Kristine Ltke, member of the Bundestag and drug policy spokesperson.
  • Carlos Kasper, Bundestag member and part of the Finance Committee.
  • Martina Stamm-Fibich, Bundestag member and part of the Health Committee.

“With this event, Tilray reaffirms its leading role as a trusted partner to government regulators and contributes to German legalization efforts by sharing its long-standing expertise and experience in cannabis research, product quality and safety, supply management, patient and consumer protection, and cannabis education,” the company’s release noted.

However, Ltke’s chief of staff said the Bundestag member did not participate.

MJBizDaily had asked the German officials to confirm the date of the “policy roundtable,” as mentioned in the Tilray news release.

“We (would) like to inform you that there is no roundtable with Tilray and the federal government commissioner for addiction and drug issues,” Blienert’s spokesperson said.

The spokesperson said the meeting was “a one-time conversation with several political representatives” on Sept. 6.

The news release also said Blienert “presented the plan for adult-use cannabis legalization.”

However, rather than presenting the “plan” for legalization, the German government spokesperson said they “only outlined the schedule that has already been published several times. Tilray has deleted the press release yesterday.”

Tilray did not immediately reply to queries from MJBizDaily, and the news release does not appear to have been corrected or retracted.

Asked if the officials were downplaying the meeting, Blienert’s spokesperson said: “The content of the press release is just not correct. We are not downplaying the meeting, because there is no cooperation and there will be none either with Tilray. On no level to be clear.”

The title of Tilray’s news release saying the company held the meeting “to Kick-Off Draft Legislation” also seems to have caught the eye of German officials.

Blienert’s spokesperson said the meeting “was not part of the ‘preparatory phase’” of legalization.

“The focus of the federal government in the plans for the controlled dispensing of cannabis to adults lies on expected positive health effects of the population,” the spokesperson said.

Germany launched the preparatory phase of cannabis legislation earlier this summer.

Public hearings were already held to cover topics such as health and consumer protection, criminal liability, control measures and licensing.

More than 200 leading experts shared their expertise on addiction medicine, addiction help, law, business and industry associations as well as representatives of Germany’s states, municipalities, federal ministries and other federal authorities.

A draft bill is expected later this year.

The focus of the legalization is expected to be safety and the protection of youth from negative health effects, according to Germany’s health minister.

Tilray’s shares trade as TLRY on the Nasdaq and Toronto Stock Exchange.

Matt Lamers can be reached at matt.lamers@mjbizdaily.com.

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