June 10, 2025, New York, Ontario, and Leamington – Tilray Brands, Inc. (“Tilray”), a company engaged in lifestyle and consumer packaging within the Cannabis and Wellness Industry, has announced the approval of an amended certificate for a reverse stock split. This split can range from a ratio of 1-for-10 to 1-for-20, following a special shareholders’ meeting. However, the company has put a hold on moving forward with the reverse stock split as they are still evaluating the timing and implications related to stock prices.
When this reverse stock split takes place, Tilray hopes to accomplish several goals, such as:
- Meeting NASDAQ Global Select Market’s ongoing listing requirements
- Adjusting the number of shares in line with comparable companies
- Increasing attractiveness to institutional investors
- Achieving cost savings of up to $1 million annually from reduced expenses related to shareholder meetings
Once the reverse stock splits are executed, the company believes it will be in a strong position to explore strategic opportunities and acquisitions, particularly given its favorable balance sheet.
Tilray’s financial health
In the fiscal quarter ended February 28, 2025, Tilray managed to cut its total debt by around $76 million. Consequently, their adjusted EBITDA net debt now stands at less than 1.0 times. The balance sheet from the previous year indicates cash and marketable securities totaling about $250 million, providing the company with the financial strength to pursue further strategic opportunities and investments while reducing outstanding debt.
About Tilray
Tilray Brands, Inc. operates on a global scale, with a presence in Canada, the United States, Europe, Australia, and Latin America. The company is a key player in the cannabis, health, and entertainment sectors, aiming to be a premier lifestyle brand that offers innovative products designed to create joyful experiences. Tilray supports over 40 brands across more than 20 countries, offering a range of cannabis products, hemp foods, and craft beverages.
For further details on how Tilray is enhancing lives through connections, visit tilray.com and follow them on various social media platforms.
Forward-looking statements
This communication includes forward-looking statements, which are not historical facts and fall under specific sections of the Securities Exchange Act of 1934 and Canadian Securities Act. Such statements may be indicated by terms like “predict,” “future,” and “expect.” Various risks and uncertainties may significantly affect actual results, differing from those suggested in these forward-looking comments. For more details on those risks, see Tilray’s Annual Information Form and related reports available through the SEC.
Use of Non-US GAAP Financial Indicators
This press release includes non-GAAP financial measures such as cash, marketable securities, and net liabilities. Management believes these indicators will give investors beneficial insights into current operational trends and useful comparisons. However, these should not be viewed as a replacement for conventional GAAP measurements. Adjusted EBITDA, for instance, is calculated prior to tax benefits and various expenses. Further financial information on cash and marketable securities, along with net liabilities metrics, can assist in understanding the company’s liquidity and obligations.
Contact:
Investor relations
Investors@tilray.com
pro-tlry@prosek.com
Media inquiries
news@tilray.com
