NANAIMO, British Columbia--(BUSINESS WIRE)--PRESS RELEASE--Tilray Inc., a vertically-integrated and federally-licensed cannabis cultivator, processor and distributor, has announced that it has launched an initial public offering (IPO) of its Class 2 common stock pursuant to a registration statement on Form S-1 previously filed with the United States Securities and Exchange Commission (SEC). Tilray has applied to list its common stock on the Nasdaq Global Select Market under the ticker symbol “TLRY.”

Tilray is offering 9,000,000 shares of Class 2 common stock at an initial price to the public between US$14.00 and US$16.00 per share (approximately CAD$18.40 to CAD$21.00 per share). Tilray intends to grant the underwriters a 30-day over-allotment option to purchase up to 1,350,000 additional shares. 

In order to qualify the offering of securities in Canada and to ensure that purchasers in Canada are not subject to restrictions on resale, Tilray has also filed a preliminary prospectus for a proposed IPO in Canada with the securities regulatory authorities in each province of Canada other than the Province of Quebec. Tilray does not intend to list on any stock exchange in Canada. 

Cowen and BMO Capital Markets are acting jointly as book-runners for the proposed IPO. Cowen is acting as the sole book-running manager for the IPO in the United States, and BMO Capital Markets is acting as the sole book-running manager for the IPO in Canada. Eight Capital is acting as lead manager for the IPO in Canada. In the United States, Roth Capital Partners is acting as lead manager and Northland Capital Markets is acting as a co-manager for the IPO. 

The offering will be made only by means of a prospectus. Copies of the U.S. preliminary prospectus may be obtained from the SEC’s website or from Cowen by contacting Cowen c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department. Phone: (631) 274-2806. Copies of the Canadian preliminary prospectus may be obtained from www.sedar.com or from BMO Capital Markets by contacting BMO Capital Markets, Brampton Distribution Centre c/o The Data Group of Companies, 9195 Torbram Road, Brampton, Ontario, L6S 6H2 or by telephone at (905) 791-3151 Ext 4312 or by email at torbramwarehouse@datagroup.ca. 

A registration statement on Form S-1 relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

We, like many of you, have grown insanely fast. We launched Cannabis Business Times several years ago, followed quickly by the launch of our major, international Cannabis Conference. Last November, we launched Cannabis Dispensary magazine to answer the market’s need for a dispensary-focused business magazine. Now, we are bringing together cultivators and dispensaries at the Cannabis Conference. As we unify our brands strategically to best serve plant-touching cannabis businesses, we also have aligned them visually.

We’ve covered branding in this magazine many times, specifically the importance of creating a “look” that is easily recognized and that has a meaning that resonates in the marketplace—whether you have two products or 50. In applying the lessons we’ve shared right here in Cannabis Business Times, we have redesigned the Cannabis Business Times and the Cannabis Conference logos to share elements of our Cannabis Dispensary logo and make all three brands part of one, easily recognizable family—using the same font families, styles and “look.”

As a rapidly growing cannabis business, we have practiced what we have preached. We recognize the value of our brand—rooted in the success and trusted reputation of Cannabis Business Times—and have brought the family together, visually as well as strategically.

In the second issue of Cannabis Business Times (January/February 2016), our cover story, “MiNDFUL’s Meg Sanders: The Power of Positive Branding” (see “Where Are They Now," Meg Sanders, who served as CEO of the then-$18 million company, commented that beyond the recognizable logo, “MiNDFUL’s competitive advantage is our intentional way of doing things. MiNDFUL is a way of life, enhanced by cannabis. Everything we do—from how we treat our plants to how we treat our team members, customers and patients … we do to create a thoughtful experience that can be unique in this space.”

Sanders’ comments resonated with me then, as they do now. Cannabis Business Times, which I co-launched in 2014, has served as the foundation for our way of life, centered on cannabis. We focus on helping plant-touching cannabis businesses with a serious, accurate, service-oriented and supportive voice. We have carried that M.O. through to our team, as we have grown from one editor to six; we have hired the very best editors, who are talented, professional and focus on accuracy and service to you, our readers. And we are ever-mindful of keeping our sense of humor even as we bring you a 156-page issue—our biggest issue yet! (Subscribe for free here!)

We carry that professional and service-driven approach through to our Cannabis Conference, where we bring together an advisory board of passionate, smart and successful cultivators and dispensary professionals who truly care about the industry and the businesses we serve to help us craft our carefully thought-out, service-based content. We work to ensure that every conference attendee benefits from that content, as well as from the community we continue to build.

As I wrote in the cover story on Meg Sanders and MiNDFUL, “It’s been weeks since my visit to MiNDFUL, but I can still picture that logo.” I hope that you not only like our new logo, which was designed with the same careful thought we put into everything we do, but that it resonates with you, stays with you and symbolizes the brands we have worked so hard to build to help you navigate this amazing and equally challenging industry.

 Cleveland, OH – July 9, 2018 – The 2019 Cannabis Conference, presented by Cannabis Business Times and Cannabis Dispensary, will bring industry stakeholders together to engage the biggest opportunities and challenges facing the legal cannabis market. The three-day event will be held at Westgate Las Vegas Resort and Casino in Las Vegas, Nev., April 1-3, 2019.

Initial details are available now at cannabisconference.com. More information—including speakers, sessions and other conference events—will be announced in the coming months.

The Cannabis Conference will expand the successes of previous events’ cultivation education and will include for the first time a dispensary track for retail businesses and employees. The conference will feature in-depth educational programming on cannabis cultivation and business operations, as well as the most informed industry perspectives on retail management and customer engagement. The Cannabis Conference exhibition hall will feature industry-leading technologies, solutions and services for the professional cannabis cultivator and retail businesses.

This premier industry event will offer unprecedented insights into the dynamic cannabis space at a time when business growth and legalization are intersecting in new markets almost every day. Growers and dispensary employees— owners of cultivation businesses and all levels of management—will gain solid insights to help ensure their companies are successful over the long term.

The educational program for the Cannabis Conference is being developed by professional cultivators, retailers and industry leaders who comprise the 2019 Cannabis Conference advisory board, in partnership with the editorial team behind Cannabis Business Times and Cannabis Dispensary. Following the 2018 conference in Oakland, Calif., attendees and exhibitors praised the breadth and depth of educational sessions and excellent networking opportunities with helpful, knowledgeable members of the vibrant cannabis industry.

Booth space and sponsorship opportunities for the event are now available. More information on these can be found at cannabisconference.com.

Attendee registration is open, and early bird pricing is now available. (Save 60 percent on the Cannabis Conference all-access pass by registering by Aug. 31!) Registration information can be found at cannabisconference.com.

About the 2019 Cannabis Conference

The 2019 Cannabis Conference is presented by Cannabis Business Times and Cannabis Dispensary, owned by GIE Media Inc. The company debuted its annual conference in 2017. You can sign up to subscribe to CBT’s monthly print magazine here or the e-newsletter here. You can sign up to subscribe to CD’s bimonthly print magazine here or the e-newsletter here.

Top photo by Phierce Photography

This week, the Senate Appropriations Committee filed a report urging fewer restrictions on marijuana research, a new federal bill was introduced to allow cannabis smoking in federally assisted housing, California reignited its push for a statewide cannabis banking system, Oklahoma’s governor walked back her threat to roll back aspects of the state’s successful medical marijuana voter initiative and more.

• Federal: Rep. Eleanor Holmes Norton has introduced the Marijuana in Federally Assisted Housing Parity Act of 2018 to help protect people who use medical marijuana by allowing cannabis smoking in federally assisted housing. Currently, using cannabis products bars individuals from benefiting from federal housing. Read more

• In a report filed June 28, members of the U.S. Senate Appropriations Committee urged fewer restrictions on marijuana research. “The Committee is concerned that restrictions associated with Schedule 1 of the Controlled Substance Act effectively limit the amount and type of research that can be conducted on certain Schedule 1 drugs, especially marijuana or its component chemicals and certain synthetic drugs,” the report says. Read more

• Ohio: The state of Ohio issued its first certificate of operation to FN Group Holdings, one of 25 cultivators to receive a provisional license to grow medical marijuana. FN Group is one of the 12 Level 2 cultivators that can grow up to 3,000 square feet of cannabis. Read more

• Tennessee: Tennessee Rep. Bryan Terry and Sen. Steve Dickerson plan to file a bill next year that would allow the use and study of medical marijuana in the state. The two Republican legislators have titled the bill the Tennessee Responsible Use of Medicinal Plants (TRUMP) Act: “We wanted to get the Republican party’s attention,” Dickerson said. Read more

• Oklahoma: Oklahoma Gov. Mary Fallin, who opposed SQ788 during the campaign and had previously threatened to hold a special session of the legislature to undo major components of the medical marijuana ballot initiative, has reversed this position. “After conferring with House and Senate leaders, we believe a special legislative session is not necessary to implement provisions of State Question 788. The Oklahoma State Department of Health has developed emergency rules that will ensure the health and safety of Oklahomans as well as being fair and balanced for the marijuana industry,” Fallin said in a press release. Read more

• California: Los Angeles will begin its long-delayed licensing process for cannabis cultivators and manufacturers on Aug. 1. About 150 retailers have opened in the city, but the rest of the supply chain has been on hold. Read more

• The concerns and inherent risks behind operating a cash-only enterprise are beginning to help drive forward proposed legislation efforts in Sacramento, specifically when it comes to a banking system for cannabis businesses in California. If passed, the California Department of Business Oversight would oversee the new system. Read more

• Arkansas: After months of controversy around its selection of the state’s first marijuana growers, the Arkansas Medical Marijuana Commission will explore hiring an “independent consultant” to grade the nearly 230 applications for the state’s dispensaries. The five-member panel unanimously approved a motion by a commissioner, Dr. Stephen Carroll, to consider outsourcing the evaluations, and it scheduled a July 12 meeting to hear from several state officials about the next steps and to make a final decision. Read more

• Utah: Opponents of an initiative to legalize medical marijuana in Utah have dropped a lawsuit intended to block the measure, but they may still sue to overturn the law if voters approve it. Blake Ostler, an attorney for Drug Safe Utah, said they’ll keep making the case that the initiative is a bad idea. Read more

• Arizona: A petition effort to legalize the recreational use of marijuana in Arizona has failed, with Safer Arizona only able to gather about 75,000 of the needed 150,642 signatures. If passed, the effort would have removed all criminal penalties for simple possession of marijuana and made things like selling a minor civil fine. Read more

Top Image: © Mitch | Adobe Stock