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Canadian cannabis giant Tilray, Inc. (NASDAQ: TLRY) released a proxy statement with an open letter from the company’s CEO Irwin D. Simon, in which he called on shareholders to support a proposal to be discussed up at the upcoming annual shareholder meeting. Simon called on shareholders to support a proposal that will allow the company to increase the number of authorized shares of common stock, enabling it to make acquisitions for growth. He also asked shareholders to authorize several amendments and changes to the company’s organizational documents that would expand shareholders' rights.
‘From Potential To Performance’
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“We need your help to ensure Tilray grows – and to ensure YOU are able to participate in our success in a meaningful, constructive manner,” Simon wrote in the open letter.
“Through our recent combination with Aphria Inc., we have ushered in a new era for the global cannabis industry. We now have the largest geographic footprint and leading cannabis-focused portfolio of consumer-packaged goods in the world. “
Simon stressed that the company needs shareholders' help in order to attract notable growth opportunities and to “go from potential to performance.”
Price Action
Tilray’s shares were trading 1.56% lower at $18.34 per share at the time of writing.
Photo by CRYSTALWEED cannabis on Unsplash
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.