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press release

May 27, 2020, 8:00 a.m. EDT

Tilray® Receives Complete GMP Certification at EU Campus

Licensing expands company’s international export capacity to serve authorized medical cannabis markets Provides authorization to complete medical cannabis extraction on-site and the production of bulk extracts to manufacture medical cannabis oil as a finished product Certification signals another milestone for EU campus as Tilray’s international medical cannabis hub

Tilray, Inc. (“Tilray” or the “Company”) /zigman2/quotes/209129655/composite TLRY -0.43% , a global pioneer in cannabis research, cultivation, production and distribution, today announced its wholly-owned subsidiary Tilray Portugal, Unipessoal Lda. (“Tilray Portugal”) has received a Good Manufacturing Practice (GMP) certification in accordance with European Union standards, for its manufacturing facility in Cantanhede, Portugal. The GMP certification was issued by Infarmed, the Portuguese National Authority of Medicines and Health Products which provides end-to-end GMP certification for Tilray’s current operations in Portugal.

This is the third GMP certification for Tilray Portugal, which allows the facility to manufacture medical cannabis extracts in-house and export GMP-produced finished medical cannabis products, both dried flower and oil, from Portugal throughout European Union and other international markets with legal medical cannabis regulations. Further, the additional certification authorizes Tilray to manufacture bulk extracts on-site to sell as cannabis API (active pharmaceutical ingredients) and provides additional quality control lab capacity to further advance the Company’s ability for product innovation and research.

“This is an important milestone for our strategic growth in the international medical cannabis market,” says Sascha Mielcarek, Tilray’s Managing Director in Europe. “Our third GMP certification will enable us to manufacture more products at our facility and export a greater range of medical products to international patients, partners and markets. As demand increases around the world and more legal medical cannabis markets emerge, Tilray’s EU campus is ready to serve more partners and patients across the EU and other international medical markets.”

Tilray has announced the previous license issuances, GMP certifications, and exports:

  • Initial licensing and GMP Certification: In May 2019, Tilray Portugal received its first manufacturing license and initial GMP-certification , allowing the company to manufacture and export bulk dried medical cannabis and wholesale dried cannabis as active substances used as starting materials.

  • Initial Export: In September 2019, Tilray completed its first export to Germany from its EU campus in Portugal which was one of the largest inter European bulk shipment of medical cannabis to date. Thus far, Tilray has supplied medical cannabis products to Germany and Israel from its EU campus in Portugal.

  • Second GMP Certification : In December 2019, Tilray Portugal received an additional GMP-certification which allowed Tilray to supply international markets with pharmaceutical-grade dried flower and oils as finished medical cannabis products.

Tilray has established sales and distribution arrangements to supply medical cannabis through major pharmaceutical distribution channels throughout Germany and other European markets. These arrangements allow patients in need to access Tilray’s finished medical cannabis products.

About Tilray® Tilray is a global pioneer in the research, cultivation, production and distribution of cannabis and cannabinoids currently serving tens of thousands of patients and consumers in 15 countries spanning five continents.

Cautionary note regarding forward-looking statements: This press release contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of Canadian securities laws, or collectively, forward-looking statements. Forward-looking statements in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment and future approvals and permits. Actual results, performance or achievement could differ materially from that expressed in, or implied by, any forward-looking statements in this press release, and, accordingly, you should not place undue reliance on any such forward-looking statements, and they are not guarantees of future results. Please see the heading “Risk Factors” in Tilray’s Quarterly Report on Form 10-Q, which was filed with the Securities and Exchange Commission on May 11, 2020, and subsequent periodic reports, for a discussion of the material risk factors that could cause actual results to differ materially from the forward-looking information. Tilray does not undertake to update any forward-looking statements that are included herein, except in accordance with applicable securities laws.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200527005054/en/

SOURCE: Tilray, Inc.

Global Media: Chrissy Roebuck, +1-833-206-8161, news@tilray.com
Investors: Raphael Gross, +1-203-682-8253, raphael.gross@icrinc.com

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Copyright Business Wire 2020

/zigman2/quotes/209129655/composite
US : U.S.: Nasdaq
$ 6.90
-0.03 -0.43%
Volume: 5.33M
Aug. 12, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$887.68 million
Rev. per Employee
$62,689
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