Tilray strikes partnership
Nanaimo based Tilray has signed a deal with Authentic Brands Group.
The deal gives Tilray access to a wide consumer base and massive global distribution network.
It will also boost plans for Tilray to develop cannabis-infused foot creams, cosmetics and other consumer products.
The two companies will focus on launching cannabis products in Canada and CBD in the U.S.
The deal gives Tilray a guaranteed minimum payment of up to 10 million dollars annually for a decade and the right to receive up to 49 percent of the net revenue generated from the new cannabis products.