Recently acquired subsidiary Alef Biotechnology officially renamed Tilray Latin America
NANAIMO, B.C. – Tilray, Inc. (NASDAQ: TLRY) (“Tilray”), a global leader in cannabis research and production, today announced that after completing an acquisition of its existing import and distribution partner Alef Biotechnology SpA (“Alef”), the company has officially relaunched as Tilray Latin America SpA (“Tilray Latin America”), a wholly-owned subsidiary of Tilray.
Tilray Latin America will further strengthen Tilray’s position as a global leader in the medical cannabis market. Tilray currently has medical cannabis products available in twelve countries and operates globally through its wholly-owned subsidiaries in Australia & New Zealand, Canada, Germany, and Portugal.
Tilray Latin America will import, produce and distribute Tilray branded medical cannabis products in Chile and create a hub to distribute Tilray products throughout Latin America, subject to local laws.
Tilray previously announced a partnership with Alef Biotechnology in February 2017 to import and distribute Tilray products in Chile and Brazil. Alef, now Tilray Latin America, is currently licensed by the Chilean government to commercially produce medical cannabis and is planning a state-of-the-art facility to domestically produce and process medical cannabis products. Chilean law permits patients to access medical cannabis products under the supervision of a recommending physician.
Alan Nudman, as General Manager, and Ariel Nudman, as VP of Sales, will oversee the strategic growth of Tilray Latin America under the global leadership of Tilray Inc.
For more information, please visit www.tilray.com.
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