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Tilray, Inc. (NASDAQ:TLRY) (TSX:TLRY) reported Wednesday that Tilray Canada Ltd. has teamed up with Great North Distributors, Canada’s first national sales broker for legalized adult-use cannabis. The two companies have signed a national brokerage agreement, under which Great North will be the exclusive representative for Tilray’s complete portfolio of adult-use cannabis products across the Canadian marketplace, with the exception of Quebec.
Tilray's leading cannabis brands include Good Supply, Riff, Solei, Canaca, The Batch, Chowie Wowie and Broken Coast.
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“Great North have been great partners in helping us achieve our leadership position in Canada. This agreement will further drive exceptional route-to-market efficiencies for our comprehensive portfolio of adult-use cannabis brands and innovative 2.0 products,” Irwin D. Simon, Tilray chairman and CEO stated. “We believe Great North's established network positions our brands on a path to accelerated growth across Canada. In addition, their territory managers and coast to coast coverage enable us to have boots on the ground to drive focus on educating budtenders and consumers on our carefully curated portfolio of brands and high-quality products.”
Doug Wieland, president at Great North Distributors noted that collaboration with Tilray cements its leading position in cannabis sales across Canada. “Great North has executed in the Canadian cannabis market since day one and will immediately bring value in sales execution, as well as the core competencies that come from our leadership team's alcohol beverage expertise to Tilray's family of brands,” Wieland added.
Great North, created as a joint venture by the owners of Southern Glazer’s Wine & Spirits, reaches every province in the country. In addition, great North applies industry-leading data analytics capabilities to the sector, providing suppliers with a powerful data-driven approach to cannabis sales.
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Price Action
Tilray’s shares were trading 1.03% lower at $11.54 per share during Wednesday’s pre-market session.
Photo: Courtesy of 2H Media 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.