Tilray Announces European Market Expansion in Italy

MILAN, Italy, May 25, 2023 (GLOBE NEWSWIRE) -- Tilray Brands, Inc. (“Tilray” or “the Company”) (Nasdaq: TLRY; TSX: TLRY), a global leader in cannabis research, cultivation, production, and distribution, today announced that its medical cannabis division, Tilray Medical and FL Group, the Company’s subsidiary in Italy, have received authorization from Italy’s Ministry of Health to distribute three new medical cannabis compounds. These medical cannabis compounds will be distributed by FL Group to pharmacies across Italy further broadening its portfolio of pharmaceutical grade cannabis offerings. Tilray also announces a new strategic partnership with , a Petrone Group company, to market and educate over 12,000 pharmacies across Italy on the benefits of medical cannabis and medical cannabis patient care.

Tilray Medical has an established broad national pharmaceutical distribution network in Italy, where medical cannabis is reimbursed by the healthcare system to eligible patients. Tilray’s new medical cannabis authorizations include three cannabis extracts which through pharmaceutical compounding by pharmacists are made available for patients. Medical doctors may now prescribe Tilray supplied medical cannabis extracts at different concentrations throughout the country.

Denise Faltischek, Chief Strategy Officer and Head of International, Tilray Brands, Inc. said, “We are pleased to broaden our medical cannabis offering to Italy and support pharmacies with medical cannabis education through our new Pharmaidea partnership. We are extremely humbled by the trust that patients, health care providers and governments have placed in us and our medical cannabis products and take our responsibility very seriously. Our Tilray Medical team remains dedicated to patient advocacy and education across our international markets while providing quality, consistent medicinal cannabis for commercial, compassionate access, and research purposes.”

Tilray Medical is also proud to partner with the oncology and patient care research community in Italy by supporting the leading cancer and patient care conference. The ONCOWELLNESS conference is accredited by Italy’s Ministry of Health and led by Dr. Vittorio A. Guardamagna, National Coordinator and Director SC Pain Therapy and Palliative Care at the (IEO) Milan. The conference includes participation from Italy’s premier healthcare practitioners across Orthopedics, Geriatrics, Anesthesia, Intensive Care, Physiatry, Oncology, Palliative Care, Internal Medicine, surgery, and research.

Conference participants will share experiences in daily practice, discuss integrated and multidisciplinary therapeutic strategies, and deepen the guidelines for the results of clinical trials and the introduction of therapy preparations based on medical cannabis. The conference will be held in Milan on May 27, 2023, in Florence at the Careggi Hospital on September 9, 2023, and in Bari at the University Hospital UNIBA on November 18, 2023.

Tilray Medical is one of the leading providers of EU-GMP certified medicinal cannabis in the world. Today, Tilray Medical offers a comprehensive portfolio of medical cannabis products in over 20 countries that patients may access by consulting their healthcare practitioner.

About Tilray Medical

Tilray Medical is dedicated to transforming lives and fostering dignity for patients in need through safe and reliable access to a global portfolio of medical cannabis brands, including Tilray, Aphria, Broken Coast, Symbios, and Navcora. Tilray Medical grew from being one of the first companies to become an approved licensed producer of medical cannabis in Canada to building the first GMP-certified cannabis production facilities in Europe, first in Portugal and later in Germany. Today, Tilray Medical is one of the largest suppliers of medical cannabis brands to patients, physicians, hospitals, pharmacies, researchers, and governments, in over 20 countries and across five continents.

About Tilray Brands

Tilray Brands, Inc. (“Tilray”) (Nasdaq: TLRY; TSX: TLRY), is a leading global cannabis lifestyle and consumer packaged goods company with operations in Canada, the United States, Europe, Australia, and Latin America that is changing people’s lives for the better – one person at a time – by inspiring and empowering a worldwide community to live their very best life, enhanced by moments of connection and wellbeing. Tilray’s mission is to be the most responsible, trusted and market leading cannabis consumer products company in the world with a portfolio of innovative, high-quality, and beloved brands that address the needs of the consumers, customers, and patients we serve. A pioneer in cannabis research, cultivation, and distribution, Tilray’s unprecedented production platform supports over 20 brands in over 20 countries, including comprehensive cannabis offerings, hemp-based foods, and craft beverages.

For more information on how we open a world of wellbeing, visit, and follow @Tilray on all social platforms.

Forward-Looking Statements

Certain statements in this communication that are not historical facts constitute forward-looking information or forward-looking statements (together, “forward-looking statements”) under Canadian securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be subject to the “safe harbor” created by those sections and other applicable laws. Forward-looking statements can be identified by words such as “forecast,” “future,” “should,” “could,” “enable,” “potential,” “contemplate,” “believe,” “anticipate,” “estimate,” “plan,” “expect,” “intend,” “may,” “project,” “will,” “would” and the negative of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Certain material factors, estimates, goals, projections, or assumptions were used in drawing the conclusions contained in the forward-looking statements throughout this communication. Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses, or current expectations concerning, among other things: expectations regarding the performance and scale of the Company, including Tilray Medical; and the Company’s ability to expand its offering to patients worldwide, including via Tilray Medical. Many factors could cause actual results, performance, or achievement to be materially different from any forward-looking statements, and other risks and uncertainties not presently known to the Company or that the Company deems immaterial could also cause actual results or events to differ materially from those expressed in the forward-looking statements contained herein. For a more detailed discussion of these risks and other factors, see the most recently filed annual information form of Tilray and the Annual Report on Form 10-K (and other periodic reports filed with the SEC) of Tilray made with the SEC and available on EDGAR. The forward-looking statements included in this communication are made as of the date of this communication and the Company does not undertake any obligation to publicly update such forward-looking statements to reflect new information, subsequent events, or otherwise unless required by applicable securities laws.

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