Tilray Brands Inc TLRY

The truth about Zenabis -

[Keeler]

earlier today, quinlash posted misleading and incorrect information regarding Tilray's acquisition of Hexo - specifically about acquiring Zenabis.

Quinlash's post is below with his mis-information hi-lited in red - and the press release announcing SNDL's acquisition of Zenabis is below that.

Tilray announced it's pending acquisition of Hexo in April of 2022 for $250 million - and at that time, Hexo DID in fact own Zenabis. However, Zenabis owed SNDL $60 million from a previous agreement.
Zenabis could not meet it's SNDL debt - and declared bankruptcy. Tilray - for whatever odd reason - chose to not enter a successful bid for Zenabis, losing Zenabis in November of 2022 - well prior to closing of the Hexo acquisition in June of 2022.

Quinlash has mis-infrmed the board that Tilray acquired Zenabis. 

Zenabis - with it's state of the art EU-GMP certified facility - accounted for 90% of all Hexo international sales, sales directed thru it's partnership in it's Malta facility - with sales to Australia, Malta but mainly Israel. Tilray also lost the EU-GMP facility, another facility (which SNDL subsequently sold for $10 million) as well as $30 million in Zenabis inventory - international agreements and rights to Zenabis intellectual property.

As for quinlash's claim regarding 48N - the company had actually ceased operation prior to Hexo's acqusiition - and the products 48N produced were largely wellness creams and lotions - a market that has a lower cannabis/cbd market share than infused beverages. The land owned by 48N (near Kirkland Lake) has been for sale prior to Tiltray's closing of the acquisition of Hexo.

Tilray reciedv 46% of Truss Canada - Truss USA having been shut down by Molson Coors as a failed infused beverage venture. Tilray PAID Molson Coors at a later date to acquire their share - as Molson Coors wanted nothing more to do with Truss - a cash burning, money losing venture whose so called 'market leader' share in infused beverages is the 2nd lowest of all cannabis sector sales in Canada. Being #1 is just not that big a deal.

SNDL has proudly announced it's new international sales and shipments from the former Zenabis facility

You don't have to believe me - read the article belowquinalsh's false post.

Quinlash continues to post misleading, inaccuate information - eitehr by design or by sheer lack of knowledge of the company he promotes daily

Post by quinlashon May 14, 2024 4:37pm

86 Views 

Post# 36039653

TLRY international

Tilray brands shows 20 international destinations for their product including Germany where Tilray medical is well established.
Of the 20 countries apx 8 (or more) came from their acquisition of HEXO Corp.  Hexo also provided a large suite of too selling cannabis brands for both rec and medical products.  In addition to this HEXO provided TLRY a suite of cannabis infused drinks (Truss) which is a market leader in the drink market. 

Zenabis and 48 North also became part of Tilray with their products and any international agreements porting over to the TLRY family

SNDL Acquires Zenabis Business

NEWS PROVIDED BY

Sundial Growers Inc. 

Nov 01, 2022, 07:49 ETSNDL adds low-cost indoor cultivation with international export capabilities

CALGARY, AB, Nov. 1, 2022 /PRNewswire/ - SNDL Inc. (Nasdaq: SNDL) ("SNDL" or the "Company") announced today that, in the context of proceedings pursuant to the Zenabis Group's (as defined below) filing under the Companies' Creditors Arrangement Act (Canada) (the "CCAA"), it has successfully closed its acquisition of the Zenabis Business (as defined below), pursuant to an approval order of the Qubec Superior Court (the "Court").

"In preparation for the exit of Zenabis from the CCAA process, our operational teams have been working closely with Zenabis' Monitor and leadership as we plan to integrate our two businesses," said Zach George, SNDL's Chief Executive Officer. "As a result of the transaction, SNDL will acquire an indoor cultivation facility with considerable capabilities and proven outcomes, significant monetizable cannabis inventory, and valuable non-core real estate assets. We look forward to partnering with our colleagues at Zenabis to take advantage of the opportunities this acquisition offers."

The Zenabis Business' core asset is the 380,000-square-foot indoor growing facility in Atholville, New Brunswick, which has an annual production capacity of approximately 46,000 kilograms of dried cannabis and 15,000 kilograms of extraction capacity. The facility previously received EU GMP certification and has exported cannabis shipments to Malta, Israel and Australia. SNDL completed its first international shipment of dried cannabis flower in August of 2022, and as the Company works to expand its international export business, the Atholville facility and Zenabis Business' customer relationships are valuable assets.

The Company acquired more than 22 million grams of cannabis inventory, which will reduce near-term cultivation requirements and is expected to be monetized through wholesale transactions, international export, and branded product sales, partially through SNDL's network of 185 retail stores. The Zenabis Business' non-core assets include a 255,000-square-foot industrial facility in Stellarton, Nova Scotia, which is under non-binding discussions for sale by SNDL. Certain intellectual property rights for the Zenabis brands and cannabis strains were also acquired.

The order of the Court approved the acquisition by a wholly-owned subsidiary of SNDL of all issued and outstanding shares of Zenabis Ltd., a corporation resulting from the amalgamation of select Zenabis entities (collectively, the "Zenabis Group"), as part of the consideration for the senior secured debt of the Zenabis Group due to the SNDL subsidiary. Zenabis Ltd. owns all of the assets of the business of the Zenabis Group (the "Zenabis Business") subject to certain exclusions, free and clear of any encumbrances except certain permitted encumbrances (namely the security of the wholly-owned subsidiary of SNDL, which was preserved).