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Marijuana

Tilray Inc (NASDAQ:TLRY) Jupiter Research Provides A Production Update Despite The Emergence Of Coronavirus

Investors thought that the coronavirus scourge would impact the way Tilray Inc (NASDAQ:TLRY) goes about its operations significantly. That doesn’t seem to be the case considering that the business guru has unveiled its production update despite the impact of the deadly virus.

Coronavirus did not shake up matters as was projected

The world was not prepared for Coronavirus, and that is for sure. There has been a lot of grappling in the dark in a bid to find the cure for the ailment. The US government has been at the frontline in trying to seek out ways to eliminate the virus, which has affected a great deal of the world economies.

China is one of the most affected by the deadly disease, and many lives have been lost amidst efforts to curb it. The US president recently challenged policymakers, health and wellness experts, and other parties to put their heads together. The US leader thought that working as a unit would be more productive as compared to the idea of the different parties working separately to find vaccines.

Scatterday’s take

Tilray provides updates about Jupiter Research, which happens to be one of its subsidiaries. According to the business guru, the subsidiary will soon be going back online despite the effects of the delays resulting from the Chinese New Year. The Coronavirus had also raised major concerns, but it is a good thing the business hasn’t been affected immensely.

The CEO of TILT, who also happens to be its founder Mark Scatterday has spoken elaborately regarding the recent developments. The official discloses that they are focused on doing everything possible to take care of the needs of their loyal customers. He outlines that they usually find it frustrating anytime they have to halt production activities over some inevitable conditions.

Scatterday applauds the company’s sales team for its dedication. According to him, the working person has been receiving orders and working on them promptly. Customers have always been happy seeing how the company fulfils their requests on time.

The warehouse of Jupiter lies in Phoenix, Arizona. Reports indicate that it has the sort of inventory that makes it possible to fulfill the wide-ranging customer orders.

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Marijuana

Tilray Inc (NASDAQ:TLRY) Lays Off A Fraction Of Its Workforce In Restructuring Efforts

Tilray Inc (NASDAQ:TLRY) has communicated several of the changes it is making to several financial news outlets. The business guru made its statement via email after the close of the market on Tuesday.

Laying off employees

This cannabis producer lay off about 10% of its workers in a bid to cut down on its operational costs. This global restructuring effort is being looked at as a way for the company to ease the tension among its shareholders. The investors in the company have been closely monitoring its performance, with some expressing satisfaction with the turn of events.

The cutting down of the company’s workforce is one of the many moves the company will be resorting to in a bid to regain stability.

November was an important month that considering that it was the point the shareholders learned about the company’s operating costs for 2019. Such instances have always been important for investors who decide about the best time to make investments.

Shareholders and the concerned parties aware of the company’s moves have shown mixed reactions. There is a section that sides with the company saying that the decision was necessary. However, there is the second lot that belives the company should have resorted to something other than terminating the services of the dedicated workers.

Opinions expressed

Tilray has been quick to defend its decision outlining that it was in the best interest of the company and the shareholders. According to it, there were always times that called for the making of some difficult choices and that this was one of those moments.

Analysts following closely on the matter have also aired out their views. They take the strong stand that the business guru was trying its best to soften the landing, and that is in line with the earnings reports.

The earnings were not impressive for the company, and that is the reason it took a drastic measure. Most of the analysts are not in support of the decision that led to about 140 employees losing their employment. They think that it paints the company in a bad light and believes there were better alternatives that the company should have looked at.

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Marijuana

Tilray Inc (NASDAQ:TLRY) Witnesses A Mixed Business Performance

Tilray Inc (NASDAQ:TLRY) has today disclosed details about its third-quarter sales. It was a good turn for the leading company which succeeded at beating the estimates it had projected.

A breakdown of the performance

Analysts have closely linked the remarkable performance to a recent purchase of a big hemp-company.

However, there is the dark side despite the outstanding performance. Reports indicate that the per-share loss witnessed was more drastic than expected.

The whole thing started by the company’s stock hitting a rather high notch and then fell eventually. That was after the regular trading came to a close. Analysts described the performance as a rather bumpy one for the marijuana stocks.

The impact of the changes

This company’s stock stood at about $51.1 million. This was a matter that resulted in many investors thinking deeply about investments here. The business giant outlines that the addition of the Manitoba Harvest and growth was a great move. This happens to be a hemp-food maker that is growing quite vibrant in the medical marijuana markets abroad.

Most of the investors had their eyes focused on the Wall Street projections. Matters have turned out differently since the performance this time around has beaten projected figure by a significant margin. Wall Street projections have indicated a figure of about $49.59 million.

Hemp products did quite well by recording almost $15.7 million. On the other hand, recreational weed sales stood at about $15.8 billion. The performance on the international scale was also encouraging considering the $5.7 million sales figure.

Despite all this, nothing shielded the company from the poor figures where it lost 36 cents per share in the quarter. The projections made earlier on had placed the figure at 30-cent per-share.

Tilray has been making efforts to explain these changes. According to the business giant, the higher operational costs had much to do with its quest to achieve growth. The company has been channeling resources to increase its business footprint internationally. The acquisition of the Manitoba Harvest and Natura Naturals was a costly undertaking as well. However, Tilray won’t give up on its efforts to become an industry leader and take over the markets with impact.

During the quarter, the company sold 10,848 kilograms of cannabis.

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Marijuana

Tilray Inc (NASDAQ:TLRY) Ventures Into Ireland’s Medical Cannabis Market With GMP-Certified Cannabis Oils

Tilray Inc (NASDAQ:TLRY) recently announced that it added Ireland the list of markets where it sells its cannabis products, particularly its Good Manufacturing Practices (GMP)-certified medical marijuana oils.

The company announced on Friday last week that it imported its GMP-certified cannabis oils into the Ireland where they will be made available throughout the European country. Tilray’s expansion into the country is also courtesy of the Medical Cannabis Access Programme which was enacted by Ireland’s Department of Health to help patients gain access to medical cannabis.

“We’re proud to have the opportunity to provide patients in Ireland with access to Tilray’s standardized GMP-certified medical cannabis products,” stated Catherine Jacobson the VP of Medical and Regulatory Affairs at Tilray.

Jacobson also noted that the development represents an important step forward not only for the company but also for medical marijuana patients in Ireland.  She also added that Tilray is pleased about the growing number of countries that are making an effort to boost access to medical marijuana.

Tilray is committed to making the cannabis products available to patients in Ireland

Qualified patients will get access to Tilray’s imported cannabis products via the Access Programme as soon as local regulators provide distribution approvals. This is also great news for qualified patients because it means they will access a consistent and legal supply of the products.  Additionally, the company aims to provide timely access to GMP-certified products, thus providing patients with even more convenience.

Authorized medical marijuana patients will access medical marijuana products from Tilray within the second half of 2019. The products will be made available through a network of Irish pharmacies. The company’s Managing Director for Europe, Sascha Mielcarek stated that the company was pleased about launching its products in Ireland. It is now the 13th country to import Tilray products for sale in its market.

Tilray also plans to continue expanding its operations in Europe and the rest of the world as part of its global expansion plan. These efforts plus the fact that more countries are embracing its products means that the company is gaining significant progress as and market share in its global endeavor.

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Marijuana

Puration Inc (OTCMKTS:PURA) Gears Up to Reach $5 Million Sales Target in 2019 through Refreshing Deals

Puration Inc (OTCMKTS:PURA) has renewed accords with Tilray Inc (NASDAQ:TLRY) and Anheuser Busch Inbev NV (NYSE:BUD) to focus on research and drive the sales. With vast experience in the cannabis beverage industry, Puration is betting big on the cannabis-infused beverages to increase sales from the present $1 million to $5 million next year.

Tilray and Anheuser Busch Each Contributes $50 Million for Research

As per the terms of the accord, both Tilray and Anheuser Busch will invest $50 million each in the research project. It is on the backdrop of the legalization of recreational cannabis in Canada in October 2018. The passing of the US Hemp Farm Act 2018 is also heating interest in cannabis by dragging in big players. Many fortune 500 beverage industry companies are pumping in money to explore the cannabis-infused beverage industry.

Puration Wins Second Order for Telluride Happy Water

After bagging the first order earlier this month, Puration has won a second order for Telluride Happy Water. The company will supply the 12 pallets to the customers in Austin, Texas.

Puration Plans to Integrate Operations of Telluride Health Company into Its Cannabis Operations

Puration has recently acquired Telluride Health Company. The company will integrate the operations of Telluride Health into its cannabis beverage business. Puration Inc has issued an online presentation to the shareholders.

A group of college students, who are active in the cannabis community, have developed The Telluride Health Company. The innovative product Telluride Happy Water improves the cannabis experience to the customers. President of Telluride Health Company, Yasmine Acebo said the company is happy to become part of Puration Inc. The company will make use of the proven experience of Puration in marketing the innovative products.

Chief Executive Officer of Puration, Brian Shibley, said the team of Telluride Health has a great unique product. There is a great demand for its products with no competitors. The company is making plans to commence the production of Telluride Happy Water, which consists of a high amount of dissolved oxygen so that it will hit the shelves by the end of this month.

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Business

Cannabis Sector Braces for Exponential Growth; Metrospaces Inc (OTCMKTS:MSPC) Announces Acquisition of a Profitable Cannabis Facility in California

Metrospaces Inc (OTCMKTS:MSPC) has taken over a licensed and profitable cannabis facility based in California. The company will manage the facility as a Joint Venture in alliance with LBCC Group. Executive President of Metrospaces Inc., Mr. Oscar Brito said the company has taken a decision to focus on prospective Cannabis sector. Its main aim is to leverage the real estate and development experience to form a JV partnership and run the cannabis facility. Metrospaces Inc has agreed to finance the deal with $20 million equity. The company will own a 75% stake in the JV whereas LBCC Group retains 10% stake subject to accomplishing certain financial criteria.

The annual revenues of the proposed 12,000 sq ft facility in California are estimated at $7.2 million. The monthly production capacity of the facility is estimated at 300 lbs. The annual operating profit of the facility is forecasted at $4.5 million.

Altria Group Inc (NYSE:MO) Clinches a Stake of 45% in Cronos Group Inc (NASDAQ:CRON), the Profitable Cannabis Manufacturer, for $2.4 Billion

The cannabis space is attracting a lot of buzzes nowadays. Altria Group Inc (NYSE:MO) is betting big on the cannabis sector by pumping in $2.4 billion to take over 45% stake in the Cannabis Producer Cronos Group Inc (NASDAQ:CRON). The company is intending to cash in on the burgeoning growth in the Cannabis sector following the move of proposed legalization of cannabis for recreational use in Canada.

The deal gives a big a boost to Altria Group since the cigarette business is declining gradually in the US. The company is also contemplating to acquire a stake of up to 40% in Juul Labs Inc., a cigarette manufacturer.

Tilray Inc (NASDAQ:TLRY) Inks a Research Pact with Anheuser-Busch InBev SA, a Budweiser Maker, To Focus on Weed Drinks

Tilray Inc (NASDAQ:TLRY) has announced the signing of a research agreement with Anheuser-Busch InBev SA. The joint venture will involve Labatt Breweries of Canada, a subsidiary of Anheuser-Busch InBev SA., to focus on beverages infused with cannabidiol and THC. Both the companies will invest up to $50 million in the facility. According to Tilray, the deal is limited to Canada and both the firms will take a decision to develop their own products in the future based on the outcome of the research.

The cannabis sector is witnessing a lot of activity following the legalization of Hemp Farm 2018 Bill in the US and legalization of recreational cannabis in Canada. Investors are rushing in to cash in on the growing demand for cannabis worldwide.

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