Interesting in respects to punting on small MMC companies but where do you think they stand compared to others that are already doing all of the above.  

These guys have just raised 450 million

There is such margin in actual production as long as the seed bank  you have can produce chemicals required when science allows them and new breeding, genetic  technology I am wondering if anything AEB has is actually worth a premium and just what they would pay .  

The strategy from history can't be IMO to believe that AEB management will defy history and come good on a well managed and profitable to shareholder business?  Will small holders get something decent if an offer is made for something AEB have or would it be placed in a special vehicle and  very little flow down??

https://www.tilray.com/

NASDAQ: TLRY

With analyst coverage and income?

	Analyst	Firm
1	Mike Hickey	Benchmark
2	Tamy Chen	BMO Capital Markets
3	Vivien Azer	Cowen
4	Graeme Kreindler	Eight Capital
5	Mike Grondahl	Northland
6	Charles Finnie	ROTH

November 13, 2018

•  Revenue rises 85.8% to $10.0 (C$12.9) million in the third quarter and 78.9% to $27.6 (C$35.5) million year-to-date

• Tilray medical cannabis products available to patients in 12 countries on five continents

• Signed agreements to supply adult-use cannabis to consumers in eight Canadian provinces and territories

• Completed successful $475.0 (C$610.6) million Convertible Senior Notes offering in October

NANAIMO, BRITISH COLUMBIA – Tilray, Inc., (“Tilray” or the “Company”) (NASDAQ: TLRY) a global leader in cannabis production and distribution, today reported financial results for the third quarter and nine months ended September 30, 2018. All financial information in this press release is reported in U.S. dollars, unless otherwise indicated.

 

“The cannabis industry remains very robust and we are pleased with our revenue momentum and strategic achievements in the third quarter,” said Brendan Kennedy, President and Chief Executive Officer of Tilray. “We are in the early stages of achieving our growth potential and our team continues to strategically execute on disciplined operational initiatives and investments to support Tilray’s long-term, sustainable growth as the pace of legalization continues to accelerate around the world. Going forward, the demand for our products is strong and we remain committed to expanding our leadership in the global medical and adult-use cannabis markets.” 

 

Third Quarter 2018 Financial Highlights

• Revenue increased to $10.0 (C$12.9) million, up 85.8% compared to the third quarter of last year. The increase in revenue was driven by increased patient demand, bulk sales to other Licensed Producers, and accelerated wholesale distribution in export markets.

• Total kilogram equivalents sold increased over two-fold to 1,613 kilograms from 684 kilograms in the prior year.

• Average net selling price per gram was $6.21 (C$7.98) compared to $7.53 (C$9.34) for the three months ended September 30, 2017. The reduction in 2018 compared to 2017 was primarily due to an increase in bulk sales as a percentage of total revenue.

• Net loss for the quarter was $18.7 million or $0.20 per share compared to $1.8 million or $0.02 per share for the third quarter of 2017. Net loss includes non-cash stock based compensation charges of $11.2 million compared to a $35 thousand charged in the prior year period.  Excluding non-cash compensation, net loss was $7.5 million or $0.08 per share.  Adjusted EBITDA was a loss of $7.4 million compared to a loss of $1.7 million the third quarter last year. The increased net loss and Adjusted EBITDA declines were primarily due to the increase in operating expenses related to continued growth, expansion of international teams, and costs related to financing and the initial public offering (“IPO”).

Business Highlights

Global expansion of medical business and participation in clinical trials:

• Acquired Alef Biotechnology SpA for $3.9 (C$5.0) million to allow Tilray to import, produce, and distribute Tilray branded medical cannabis products to Chile and to create a hub to distribute throughout Latin America.

• Imported 2:100 CBD oil to the United Kingdom.

• Received regulatory permits in Canada and Germany to export medical cannabis flower to Germany, making Tilray the first and only company to import both flower and oil medical cannabis products to the German market.

• Received regulatory approval from U.S. Government to import a medical cannabis study drug in capsule form for a clinical trial at the University of California San Diego Center for Medicinal Cannabis Research to examine the safety, tolerability, and efficacy of cannabis for Essential Tremor (ET).

• Exported CBD 100 medical cannabis, an oral solution of cannabinoid extract, from Canada to Australia to distribute to critically ill children in Australia suffering from intractable epilepsy through a compassionate access program.

Adult-use Business Developments, which occurred in advance of legalization in Canada in October:

• Signed agreement with Prince Edward Island to supply cannabis to adult-use consumers; eight agreements now signed in Canadian provinces and territories (British Columbia, Manitoba, Nova Scotia, Ontario, Quebec, the Yukon territory, the Northwest Territories, and Prince Edward Island).

• High Park Farms™, a subsidiary of Tilray, received cannabis sales license from Health Canada, to supply and sell finished cannabis products within the Access to Cannabis for Medical Purposes Regulations, as well as sales in the adult-use market.

Subsequent Events

• Announced Pricing of $475 (C$610.6) million of Convertible Senior Notes due in 2023 in a private placement in October 2018; Tilray intends to use the net proceeds for working capital, future acquisitions and general corporate purposes, and to repay existing mortgage related to our facility in Nanaimo, British Columbia.

 

Conference Call

The Company will host a conference call to discuss these results today at 4:30 p.m. ET. Investors interested in participating in the live call can dial 877-489-6528 from the U.S. and 629-228-0736 internationally. A telephone replay will be available approximately two hours after the call concludes through Tuesday, November 27, 2018, by dialing 855-859-2056 from the U.S., or 404-537-3406 from international locations, and entering confirmation code 9395669.

There will also be a simultaneous, live webcast available on the Investors section of the Company’s website at www.tilray.com. The webcast will be archived for 30 days.

 

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 in twelve countries spanning five continents.

Production Process

Tilray choreographs a complex series of cutting-edge processes to deliver unparalleled product to its patients. From cultivation to shipping, Tilray's team brings precision, professionalism and care to each stage of the process.

Tilray® to Supply More Critically Ill Children in Australia with Medical Cannabis

September 24, 2018 at 5:00 PM EDT

PDF Version

Tilray CBD 100 Product Successfully Exported to Victoria, Australia and Will Be Supplied to Additional Pediatric Patients

NANAIMO, British Columbia--(BUSINESS WIRE)--Sep. 24, 2018-- Tilray, Inc. (NASDAQ: TLRY), a global pioneer in cannabis production and distribution, today announced that it has successfully exported medical cannabis from Canada to Australia to distribute to critically ill children.

This press release features multimedia. View the full release here:https://www.businesswire.com/news/home/20180924005991/en/

Tilray will distribute its CBD 100 product to three hospitals in the state of Victoria via its wholly-owned subsidiary Tilray Australia New Zealand Pty Ltd. The products are being supplied to Royal Children’s Hospital, Monash Children’s Hospital and Austin Health with support from the Government of Victoria’s Department of Health and Human Services, Victoria (DHHS), where they will be distributed to children suffering from intractable epilepsy.

Tilray first announced that the company successfully exported medical cannabis products to Victoria in March 2017. The products were distributed to 29 critically ill children through a compassionate access scheme designed to fast-track medical cannabis access for pediatric patients in need. According to the government, these 29 patients became the first in Victoria to legally access medical cannabis.

Earlier this year, the Victorian government released an update on the status of the compassionate access scheme. According to the update, in less than one year the scheme “has already helped children see a reduction in seizures and has significantly improved their quality of life.” The additional number of patients gaining access over the next three years was labelled a “significant expansion” by the Victorian government.

Tilray CBD 100 is an oral solution of concentrated cannabinoid extract. Tilray CBD 100 has a target concentration of 100mg/ml CBD in a 25ml vial. The Tilray CBD 100 products, which will be supplied to Australian patients via compassionate access, were successfully exported from Nanaimo to Victoria, Australia, this month.

Tilray is proud to serve authorized medical cannabis patients in Australia and New Zealand. Prospective patients and interested physicians can contact Tilray at [email protected] or 1800-361-664.

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 in twelve countries spanning five continents.

This press release contains “forward-looking statements”, which 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. Forward-looking statements involve significant risks, assumptions, uncertainties and other factors that may cause actual future results or anticipated events to differ materially from those expressed or implied in any forward-looking statements. 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/20180924005991/en/

Source: Tilray, Inc.

Media Contact, Australia:
Oryana Angel, 0400-602-202
[email protected]
or
Media Contact, Global:
Chrissy Roebuck, +1-416-560-5712
[email protected]
or
Contact for Investors:
Katie Turner, +1-646-277-1228
[email protected]