NANAIMO, British Columbia–(BUSINESS WIRE)–
Lock-up to be Extended for up to Two Years on 77 Percent of Tilray’s Total Shares Outstanding
Transaction Expected to be Tax-Efficient for Privateer Stockholders
Tilray, Inc. (TLRY), a global leader in cannabis research, cultivation, production, and distribution, today announced that it has signed a non-binding Letter of Intent (“LOI”) with its largest stockholder Privateer Holdings, Inc. (“Privateer”) for a transaction that will extend the lock-up on and provide for the orderly release of the 75 million Tilray shares held by Privateer to Privateer’s equity holders. These shares currently represent 77 percent of Tilray’s total shares outstanding.
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