The 250,000 square-foot facility located in Cantanhede, Portugal
serves as the hub for Tilray’s cultivation, processing, distribution and
research of medical cannabis products in Europe
NANAIMO, British Columbia–(BUSINESS WIRE)–Tilray (NASDAQ:TLRY), a global pioneer in the research, cultivation,
production and distribution of cannabis today celebrated the official
opening of its European Union (EU) Campus located in Cantanhede,
Portugal. Tilray CEO Brendan Kennedy, global senior leaders and the EU
Campus Team welcomed guests from all over the world including
international healthcare professionals, government officials and local
dignitaries to celebrate the inauguration of the company’s European
production and distribution centre.
For the event, which followed Tilray’s successful outdoor harvest last
year and greenhouse harvest earlier this year, guests were invited to
attend a ribbon-cutting ceremony and tour Tilray’s state-of-the-art
facility.
Tilray’s EU Campus in Portugal is a multi-faceted production facility
that includes indoor, outdoor and greenhouse cultivation sites, as well
as research labs, processing, packaging and distribution sites for
medical cannabis and cannabinoid-derived medical products. To date,
Tilray has invested approximately €20 million in the facility, which
totals approximately 250,000 square-feet with additional room to expand.
Tilray’s EU Campus also serves as a hub supporting Tilray’s clinical
research and product development efforts across Europe. Tilray’s EU
Campus currently employs more than 100 professionals, and that number is
expected to double by the end of 2019, with production ramping up and
multiple harvests anticipated in the coming months.
“We’re thrilled to celebrate another milestone as we continue to expand
our global presence and pioneer the future of the cannabis industry. We
are grateful for the warm welcome we’ve received from Portugal and the
city of Cantanhede,” says Brendan Kennedy, Tilray CEO. “We’re looking
forward to utilizing Tilray’s EU Campus to serve the European Union
medical cannabis markets with high-quality, pharmaceutical-grade medical
cannabis products.”
Tilray announced a successful harvest from its EU Campus in February
2019 with multiple harvests expected in the coming months. Tilray looks
forward to supplying patients in Europe from its EU Campus when it
receives GMP certification.
About Tilray®
Tilray is
a global pioneer in the research, cultivation, production and
distribution of cannabis currently serving tens of thousands of patients
in twelve countries spanning five continents.
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 medical cannabis products and the
future performance of its European Union Campus. 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