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Tilray Announces Impressive 2018 Q3 Financials

NEW YORK, NY - OCTOBER 16: A general view of the atmosphere at the opening bell at NASDAQ MarketSite on October 16, 2013 in New York City. (Photo by Noam Galai/WireImage)

Wholly-owned subsidiary of Privateer Holdings, Inc., Tilray (NASDAQ: TLRY), has announced the company’s third quarter financial statements for 2018 this morning. Earlier this year, Tilray debuted its stock on the NASDAQ stock exchange, making it one of the few public companies involved in the sector to do so.

Tilray, Inc. 3rd Quarter highlights:

  • Revenue rises 85.8% to $10.0 (C$12.9) million in the third quarter and 78.9% to $27.6 (C$35.5) million year-to-date
  • Tilray medical cannabis products available to patients in 12 countries on five continents
  • Signed agreements to supply adult-use cannabis to consumers in eight Canadian provinces and territories
  • Completed successful $475.0 (C$610.6) million Convertible Senior Notes offering in October

Tilray has impressively been able to sell 1,613kg of dried cannabis flower, rising their revenue up 85% from this exact quarter last year. The company has current operations that span across 12 different countries over 5 different continents. They have also been able to create a number of other supply agreements with companies located in Canada, a country that last month legalized the recreational use of cannabis for adults over the age of 21.

“The cannabis industry remains very robust and we are pleased with our revenue momentum and strategic achievements in the third quarter. We are in the early stages of achieving our growth potential and our team continues to strategically execute on disciplined operational initiatives and investments to support Tilray’s long-term, sustainable growth as the pace of legalization continues to accelerate around the world,” said Brendan Kennedy, President and Chief Executive Officer of Tilray.

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