Tilray Brands Inc (TLRY)

[crudeoil24]

Tilray Signs Revenue-Sharing Agreement With Authentic Brands Group
6:21 am ET January 15, 2019 (Dow Jones) Print
By Chris Wack

Tilray Inc. (TLRY) said Tuesday it signed a long-term revenue sharing agreement with Authentic Brands Group to market and distribute its consumer cannabis products in allowed jurisdictions.

Tilray, a producer and distributor of cannabis and cannabinoids, said in a release that the companies will use Authentic Brands' portfolio to develop, market and distribute consumer cannabis products across the world, focusing on Canada and the U.S.

Authentic Brands owns of a portfolio of global lifestyle and entertainment brands, with a global retail footprint of over 100,000 points of sale and more than 4,500 branded freestanding stores and shop-in-shops.

Tilray will be the preferred supplier of active cannabinoid ingredients for many products, and will initially pay to Authentic Brands $100 million and up to $250 million in cash and stock.

Tilray will have the right to receive up to 49% of the net revenue from cannabis products bearing Authentic Brand products, with a guaranteed minimum payment of up to $10 million annually for 10 years, subject to certain commercial and/or regulatory milestones.

Shares of Tilray were up almost 3% to $102.99 premarket.

Write to Chris Wack at [e-mail]

(END) Dow Jones Newswires

January 15, 2019 06:21 ET (11:21 GMT)