Acquisition of Truss Beverage Co.
"On August 3, 2023, Tilray acquired the remaining 57.5% equity interest in Truss Beverage Co. ("Truss"), a cannabis beverage company, for $74 (CAD$100) in cash and $4,181 of contingent consideration from Molson Coors Canada ("Molson"). This represents the portion of Truss that had not been previously acquired as part of the HEXO Acquisition. The Company currently intends to divest Truss's assets and has recorded the value of the associated capital assets and lease obligations as an asset held for sale. The Company has agreed to pay Molson as contingent consideration an amount equal to 57.5% of any proceeds from any divesture, net of any costs and expenses associated with the disposition."
"The Company is in the process of assessing the fair value of the net assets acquired and, as a result,
the fair value of the net assets acquired may be subject to adjustments pending completion of final valuations
and post-closing adjustments. The table below summarizes preliminary estimated fair value of the
assets acquired and the liabilities assumed at the effective acquisition date as follows": | | Amount | |
"The table below summarizes preliminary estimated fair value of the assets acquired and the liabilities assumed at the effective acquisition date as follows:
Asset held for sale $2,960 (or LEASE OBLIGATIONS)
Total assets $13,684" (CAD$100) A divestiture is when a company or government disposes of all or some of its assets by selling, exchanging, closing them down... Q4
Questions & Answers:
Aaron Grey with Alliance Global Partners. Please proceed with your question.
…And any puts and takes, whether you think that could be more through top-line generation or more margin improvement via cost efficiencies or otherwise, I think that would be appreciated. Thank you.
Irwin Simon -- Chairman and Chief Executive Officer “And with the acquisition of Truss that we bought from Molson's, you know, we'll be moving those products to our London facility. And we have an excellent facility in Belleville, Ontario that we're going to look to do not out drinks and energy drinks, you know, some other types of drinks there. So, you know, we're looking for a big year on organic growth and new products, innovation, new distribution.”