Tilray (NASDAQ:TLRY) is leading the marijuana stock news today with a new liquor deal.
This bit of marijuana stock news has Tilray reaching an agreement with Nova Scotia Liquor Corporation. This agreement will have Nova Scotia Liquor Corporation making an initial purchase order from Tilray.
Tilray says that this initial purchase order from Nova Scotia Liquor Corporation will before adult-use cannabis. The company says this will allow it to provide Nova Scotia Liquor Corporation with a large variety of cannabis products as it prepares for the launch of adult-use marijuana market on Oct. 17, 2018.
“We’re thrilled High Park will have the opportunity to supply the province of Nova Scotia with a safe, secure and reliable source of adult-use cannabis products,” Adine Fabiani-Carter, CMO at High Park, said in a statement. “Our intention is to deliver on the high expectations Nova Scotians have of us by cultivating and distributing a portfolio of world-class adult-use brands and products that will lead the market in quality, excellence and craftsmanship.”
High Park is an affiliate of Tilray’s. The company says that it will be using this affiliate to fulfill the purchase orders for adult-use marijuana being made by Nova Scotia Liquor Corporation.
Tilray also notes that it isn’t the only producer of cannabis that Nova Scotia Liquor Corporation is making deals with. There are another 13 producers of marijuana that are working with the company.
TLRY stock was up 21% as of Monday afternoon and is up 95% since its IPO on July 19, 2018.
As of this writing, William White did not hold a position in any of the aforementioned securities.
