Tilray Inc. is prepared to quickly move into the U.S. cannabis market if a pro-hemp farm bill is passed.
Tilray’s $500 million in cash, its Nasdaq-listing and its global reach “gives us advantages to very quickly deploy capital in the U.S.” if Congress passes the farm bill, which would legalize non-intoxicating cannabidiol derived from hemp, Brendan Kennedy said Tuesday on the company’s third-quarter earnings call. He is also closely watching the STATES Act, which would give states the power to legalize marijuana without the threat of federal interference.
Tilray would have an advantage over U.S.-based cannabis companies that are forced under current regulations to have operations for individual states, he said.
Top Image: © Miravision | Adobe Stock
