Tilray® Invests C$7.5M in Québec-Based Cannabis Producer ROSE Lifescience Inc.
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In connection with the subscription agreement, High Park and ROSE have entered into an exclusive sale, supply, distribution and marketing agreement to deliver High Park adult-use cannabis products in Québec including existing brand, Dubon™, which is exclusively available in Québec through the Société québécoise du cannabis (SQDC). The two companies may also collaborate on additional co-branded adult-use cannabis products or brands exclusively for this market.
The investment in ROSE represents a commitment to increase supply to the
Québec market and the opportunity to deliver consumers locally-grown
products. ROSE has begun construction of a 54,000 square-foot cannabis
cultivation facility on its land in
“Tilray and High Park value our partnership with the SQDC and our shared
commitment to creating a responsible and safe legal market for
cannabis,” says
About Tilray®
About High Park™
Based in
About ROSE
Founded by a group of seasoned executives with extensive experience in highly regulated industries, ROSE LifeScience is committed to ensuring that Québec benefits from the responsible production, sale and use of cannabis.
ROSELifeScience's cannabis and by-products will be of the highest
quality, produced in its climate-controlled indoor facility, ensuring
superior quality and consistent, affordable production year-round. As a
Québec producer, ROSE will actively participate in economic development
in
Cautionary Note regarding Forward-looking Statements
This press release contains “forward-looking statements”, which may
be identified by the use of words such as, “may”, “would”, “could”,
“will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”,
“forecast”, “project”, “estimate”, “outlook” and other similar
expressions, including statements related to Tilray’s investment in Rose
and future collaborations between the two parties. Forward-looking
statements are not a guarantee of future performance and are based upon
a number of estimates and assumptions of management in light of
management’s experience and perception of trends, current conditions and
expected developments, as well as other factors that management believes
to be relevant and reasonable in the circumstances, including
assumptions in respect of current and future market conditions. Actual
results, performance or achievement could differ materially from that
expressed in, or implied by, any forward-looking statements in this
press release, and, accordingly, you should not place undue reliance on
any such forward-looking statements and they are not guarantees of
future results. Forward-looking statements involve significant risks,
assumptions, uncertainties and other factors that may cause actual
future results or anticipated events to differ materially from those
expressed or implied in any forward-looking statements. Please see the
heading “Risk Factors” in Tilray’s Quarterly Report on Form 10-Q for the
quarter ended
View source version on businesswire.com: https://www.businesswire.com/news/home/20181214005035/en/
Source:
Media: Chrissy Roebuck, +1-416-560-5712, chrissy.roebuck@tilray.com
Investors:
Katie Turner, +1-646-277-1228, Katie.turner@icrinc.com