Canadian medical cannabis company Tilray has closed C$60 million in Series A funding. The investors were not identified. Cowen was the placement agent on the fundraising while Cooley LLP provided legal counsel. Tilray is a portfolio company of Privateer Holdings, a legal cannabis-focused private equity firm.
TORONTO – Tilray, a global pioneer in medical cannabis research, cultivation, processing and distribution, today announced the completion of its Series A funding round totaling C$60 million. The round was comprised of a group of leading global institutional investors. Tilray will use the new funding to increase its existing production capacity in North America, to continue to build its European Union campus in Portugal, and to expand availability of its products to more patients and pharmacies around the globe. The terms of the Series A funding round, including Tilray’s valuation, were not disclosed.
Tilray, federally licensed in Canada and Europe, currently sells pharmaceutical-grade, GMP-certified medical