Newly-acquired Natura Naturals Inc. located in Leamington, Ontario
obtains processing license, allowing it to produce a wide range of
cannabis form factors for the Canadian market
NANAIMO, British Columbia–(BUSINESS WIRE)–Natura Naturals Inc. (“Natura”), a wholly-owned subsidiary of Tilray,
Inc. (NASDAQ:TLRY) and High Park Holdings Ltd. (“High Park”), has
received a standard processing license under the Cannabis Act.
The Natura greenhouse facility, which previously held a standard
cultivation license, will now be able to manufacture a wide range of
cannabis form factors from cannabis starting material, including oil,
pre-rolls, and novel formats such as topicals and edibles.
Natura, which will operate under High Park Gardens Inc. (“High Park
Gardens”), was acquired by Tilray in February 2019 to serve the
adult-use and medical cannabis market in Canada alongside Tilray’s
existing operations. The site is a 662,000 square-foot greenhouse
facility with 155,000 square-feet licensed for cultivation. The addition
of a standard processing license means that High Park Gardens will be
able process cannabis raw material cultivated on site – as well as raw
material sourced from other cannabis licensees – into a variety of
value-add product formats. This development provides Tilray’s facilities
additional flexibility in the manufacture of products for the Canadian
cannabis market, and in the development of novel products in preparation
for legalization of additional cannabis products, including tinctures,
concentrates and edibles, in Canada later this year.
High Park Gardens will work closely with Tilray’s existing operations in
British Columbia and Ontario: High Park Farms Ltd., a cultivation and
processing facility featuring 13 acres of greenhouse space on 100 acres
of property in Enniskillen, Ontario; High Park processing facility, a
56,000 square-foot processing and R&D facility in London, Ontario and
Tilray Canada Ltd., a cultivation, research and processing facility
located in Nanaimo, British Columbia. All sites are actively engaged in
the cultivation, manufacture, and sale of cannabis products for the
Canadian cannabis market.
“The acquisition of High Park Gardens in February allowed us to
significantly increase our production footprint,” says Greg Christopher,
EVP Operations, Tilray. “With this additional licensing, we’re pleased
to have expanded Tilray and High Park’s capacity to develop and
manufacture high-quality branded products for the Canadian market.”
High Park has launched and secured the exclusive rights to distribute
world-class adult-use cannabis brands currently available in the
Canadian market including: Canaca™, which proudly builds on its
homegrown heritage with cannabis products crafted by and for Canadian
cannabis enthusiasts; Dubon™, a vibrantly Québécois cannabis
brand which offers master-crafted cannabis strains, exclusively
available in Québéc; Yukon Rove™, a cannabis brand designed to
embody the spirit of Northern Canada, exclusively in the Yukon
territory; Irisa™, a women’s wellness brand designed to integrate
with consumers’ self-care rituals; and Grail™, a premium cannabis
brand that offers connoisseurs a unique variety of products, including
rare strains with exotic cannabinoid and terpene profiles.
High Park looks forward to launching additional brands from its
world-class portfolio, including branded concentrates and edibles –
which are expected to be legalized on or before October 17, 2019 – in
the coming months.
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 twelve countries spanning five
continents.
About High Park™
Based in Toronto and led by a team with deep experience in cannabis and
global consumer brands, High Park was established to develop, produce,
sell, and distribute a broad-based portfolio of adult-use cannabis
brands and products. High Park is a wholly-owned subsidiary of Tilray,
Inc., a global leader in cannabis cultivation, processing, and
distribution. Tilray will continue to serve patients in Canada and
around the world with a diverse range of pharmaceutical-grade medical
cannabis products as High Park focuses on creating distinctive products
for adult consumers.
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, including
statements in respect to Tilray’s intention to launch brands, products
and novel form factors at Natura, and Tilray’s expectations relating to
servicing the Canadian adult-use market. 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 Annual Report
on Form 10-K, which was filed with the Securities and Exchange
Commission and Canadian securities regulators on March 25, 2019,
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 and specifically declines any obligation to update any
forward-looking statements that are included herein, except in
accordance with applicable securities laws.
Contacts
Media: Chrissy Roebuck, +1-833-206-8161, news@tilray.com
Investors:
Katie Turner, +1-646-277-1228, Katie.turner@icrinc.com