Tilray Had Several Strategic Shareholders Sell Positions This Week

Earlier this week, Tilray, Inc. (TLRY: TSX) (TLRY: Nasdaq) filed a few documents with the United States Securities and Exchange Commission (SEC) that reported a sale of more than 600,000 common shares.

The stock sale is valued at more than $8.8 million and we find the transaction to be worth highlighting after Tilray completed the merger with Aphria. Since the stock sale is being conducted by shareholders, Tilray will not receive any proceeds from the transaction. The selling shareholders include:

1. Wycoff Farms – plans to sell up to 94,558 common share and owned 353,357 common shares prior to the transaction.
2. Double Diamond Holdings – plans to sell up to 507,739 common shares which represents its entire Tilray position.

The selling shareholders are allowed to sell common shares from time to time and we will monitor how they exit the trade. Since Wycoff Farms will continue to own common shares of Tilray after the transaction, we will monitor how it plans to continue to be levered to the leading global cannabis company.

A Leading Global Cannabis CPG Operator

Tilray is a leading global cannabis-lifestyle and consumer packaged goods company (CPG) with operations in Canada, the US, Europe, Australia, and Latin America. The company’s platform supports over 20 brands in over 20 countries and includes a variety of types of products (i.e. cannabis flower, cannabis oil, hemp-based foods, and alcoholic beverages).

Following the completion of the Aphria merger, Tilray has been under pressure and the closing of the transaction seems to be a sell the news type of event. We believe the combined company has substantial growth opportunities and will monitor how the story advances from here.

Going forward, we will continue to closely monitor Tilray and how the business is able to integrate with Aphria. If you are interested in learning more about Tilray, please send an email to support@technical420.com with the subject “Tilray” to be added to our distribution list.

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Michael Berger is Managing Partner of StoneBridge Partners LLC. SBP continues to drive market awareness for leading firms in the cannabis industry throughout the U.S. and abroad.

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