Tilray Brands announced that the company submitted an application requesting an extension to regain compliance with Nasdaq's listing standards regarding its price per share.
The company is evaluating several options, including, but not limited to, a stockholder-approved reverse stock split to address capital structure and maintain adherence to Nasdaq's continued listing requirements.
"Tilray's trading levels have appreciated in recent weeks following President Trump's review of cannabis rescheduling," Tilray Brands CEO Irwin Simon said. "We believe this market reaction reflects investors' confidence in Tilray's diversified global platform and our ability to capitalize on a more favorable regulatory environment. Tilray is a leader in cannabis, beverage and wellness, and our growth potential extends beyond any single regulatory change.
"We are pleased to see investors more accurately recognizing the intrinsic value of our differentiated business portfolio. Tilray has multiple options to meet Nasdaq's requirements, and with this extension request, we are giving the market additional time to demonstrate its confidence in our long-term strategy. We are building the future of consumer goods at Tilray, creating value for our customers, patients and shareholders through a commitment to innovation at global scale."
For more information:
Tilray
www.tilray.com
