Feb 9, 2021
Tilray shares up following U.K. supply deal with Grow Pharma
The Canadian Press
NANAIMO, B.C. - Shares in cannabis company Tilray Inc. soared after the announcement of a deal with Grow Pharma to supply medical cannabis in the United Kingdom.
Tilray shares were up US$11.43 at US$41.52 in late-morning trading on the Nasdaq market.
Grow Pharma is a leading medical cannabis distributor in the United Kingdom.
Tilray, based in Nanaimo, B.C., says it expects to have a range of medical cannabis products available for patients in the United Kingdom by March.
Tilray announced a deal last year to merge with Leamington, Ont.-based Aphria Inc.
The cannabis companies have said the move will help them slash costs and give them control of the biggest slice of the Canadian retail market.
Track the ongoing growth of the Canadian recreational cannabis industry here, and subscribe to our Cannabis Canada newsletter for the latest news delivered directly to your inbox every week.