Cannabis Company Tilray Signs Distribution Agreement for CBD Products in the United States

New York-based cannabis company Tilray Brands said its wellness division, Fresh Hemp Foods, signed a distribution agreement with Southern Glazer's Wine & Spirits. According to a press release, the Miami-based liquor distributor will provide Tilray with its distribution network "to consumers everywhere from local bars and restaurants to independent and national grocery chains and convenience stores." "Southern Glazer will be the exclusive distribution partner for Tilray's Wellness CBD beverage portfolio in 13 states, with additional opportunities to expand nationally." For the fiscal year ended May 31, Tilray Wellness reported net income of $59.6 million, covering industrial hemp food and CBD products. tilray reported a net loss of $457.8 million for the fourth quarter and a net loss of $434 million for fiscal 2022. The company's shares trade on the Nasdaq and Toronto Stock Exchange on TLRY.

Information source: mjbizdaily.com/