TORONTO--(BUSINESS WIRE)-- Tilray, a cannabis cultivator, processor and distributor, has announced that it has signed a Letter of Intent (LOI) with National Access Cannabis Corp. (NAC) to supply the province of Manitoba with high-quality cannabis products in anticipation of adult-use legalization later this year. The province of Manitoba announced this morning that it has selected NAC to operate retail stores for the adult-use cannabis market pending federal legalization anticipated later this year, according to a press release.
“This LOI is another major milestone for us as we aim to build the world’s most trusted cannabis company,” said Brendan Kennedy, Tilray chief executive officer. “We are proud that NAC has trusted us to supply Manitoba with high quality products.”
It is anticipated that a Tilray subsidiary will supply NAC with up to 3,000 kg of cannabis and up to 4,000 liters of cannabis oil per year for a period of five years across a variety of brands. These brands, which will be brought to Manitoba under the terms outlined in the LOI, include both trusted brands from other legal cannabis markets and new brands created for Canadian consumers. Tilray-branded medical products will continue to be sold exclusively via mail order through the Access to Cannabis for Medical Purposes Regulations (ACMPR), and through pharmacies in other jurisdictions.
The LOI secures a safe, regulated supply of cannabis products for Manitoba from Tilray, an internationally-recognized federally-licensed producer trusted for its commitment to quality, compliance and responsibility. Tilray was the first cannabis company to be Good Manufacturing Practice (GMP) certified in accordance with the European Union standards, which has enabled the company to secure supply agreements and authorizations to dispense its products in hospitals, pharmacies and clinical trials in eight countries spanning four continents.
