Tilray has announced a number of strategic initiatives to mark the next phase of its global growth, expanding across healthcare, cannabis and beverages, strengthening its ability to expand internationally and capture emerging market opportunities.

Irwin D. Simon, President and CEO of Tilray Brands, stated: “Tilray Brands is setting the pace for global innovation in healthcare, cannabis and craft beverages – each a distinct growth engine on our platform. This is a crucial time as we enter the next phase of global growth. We are executing carefully against our strategic plan by expanding our international brand growth icon position and Brewver’s international medical icon position. At the same time, our brands, We maintain the financial flexibility to invest behind infrastructure and capabilities.Together, these actions position Tilray as a broad and diversified global platform with multiple near- and long-term growth drivers, and one of the most dynamic and exciting consumer companies today.

© Tilray Marks

Tilray expands UK Medical Platform with acquisition of Lyphe
Tilray acquired Lyphe Group, a leading UK-based medical cannabis clinic and digital pharmacy platform, with Lyphe Dispensary dispensing around 150,000 units and Lyphe Clinic treating over 16,000 patients to date, anchoring and expanding Tilray Medical’s footprint in one of Europe’s largest and most dynamic healthcare markets. The addition of Lyphe strengthens Tilray’s vertically integrated medical ecosystem, combining clinical services, patient access and pharmaceutical distribution. Through Lyphe’s online clinic and pharmacy platform, Tilray will improve access to medical cannabis while accelerating its traditional prescription drug delivery capabilities, creating a seamless digital patient experience.

Most importantly, with the addition of the Lyphe Group, Tilray Medical is establishing its first fully vertically integrated medical platform, which combines the cultivation and production of pharmaceutical-grade medical cannabis with clinical care, distribution services and pharmaceutical distribution. The integration of Lyphe’s highly skilled patient care team further differentiates this model, enabling a more personalized, unified and comprehensive approach to patient care and outcomes. Tilray will also leverage CC Pharma’s established scale, supply capabilities and purchasing power to supply medicines more efficiently through the Lyphe platform, supporting the wider needs of UK patients and further strengthening Tilray’s European pharmaceutical distribution network.

Rajnish Ohri, International President, Tilray Brands, said: “I am proud to welcome the Lyphe team to Tilray, bringing deep clinical experience and a strong patient-first approach, which immediately strengthens our capabilities. This acquisition marks an important step in Tilray Medical’s continued expansion as a global healthcare platform. We look forward to enhancing our capabilities, our ability to serve UK patients, and the international medical ecosystem in 2027. to build a fully connected, consistent, high-quality care while expanding access to cannabis and traditional therapies.

BrewDog and the beverage platform: Accelerate growth, scale globally and invest in expansion
Six weeks after Tilray acquired BrewDog, the company has moved with speed and discipline to stabilize and strengthen the platform, positioning the brand for its next phase of growth. Tilray has stabilized beer volumes, maintained service levels across channels to ensure consistent stock availability and has begun onboarding new distribution and strategic partners to support expansion.

Mr Simon added: “Our priorities are clear: to strengthen BrewDog, accelerate innovation and scale our global beverage platform. We are already taking decisive steps to reinvest in the BrewDog brand, the innovation pipeline and the brewpub experience, and we see a clear path to rebuilding BrewDog. In the US, we are leveraging our infrastructure and distribution network for our broader beverage portfolio in key growth markets, including the Middle East and India. to scale and support the growth of our American craft brands and global partners like Carlsberg across the US.

Tilray expects the BrewDog business to be cash flow positive by 2027 and is investing in the brand and to revitalize and modernize the existing brewpub estate – areas that have seen limited investment in recent years. This provides a strong foundation for improving performance through targeted operational improvements and focused brand building. These efforts are focused on reimagining the brewpub experience to better connect with today’s consumers to ensure long-term brand relevance. As part of enhancing the venue experience with modern activations, strengthening brand engagement and aligning with evolving consumer preferences, Tilray will invest in a “brewpub of the future” at one of its existing locations, allowing it to analyze, evaluate and recommend future changes to its brewpub network. Tilray BrewDog is building a more compelling platform for the future.

Tilray is seeing strong and growing demand for its American craft portfolio in the UK, creating near-term opportunities to expand distribution and build brand presence in the market. Building on this momentum, the Company plans to launch Hi*Ball Energy in the UK in May, further expanding the beverage offering and increasing consumer demand in the growing functional drink category.

Positioned for US reprogramming and medical cannabis options
In the United States, we are closely following medical cannabis rescheduling and actively engaging with legislators and regulators as they evaluate and work on this important drug policy development. We are also evaluating our participation in the Center for Medicare and Medicaid Innovation pilot program, an opportunity to partner with Healthcare Organizations and oncology practices to provide hemp-derived medical cannabis to underserved and vulnerable patients, provide safe and therapeutic access to medical cannabinoids, and collect data on patient outcomes.

Denise Faltisch, Director of Strategy and Head of M&A, Tilray Brands, stated: “In retrospect, Tilray Medical is strategically positioned to participate in the US medical cannabis market, given our proven track record of operating at scale in highly regulated medical cannabis markets globally, our pharmaceutical quality systems and scientific research, backed by scientific education and scientific research. It will happen in the near term and when it does, we are well positioned to seize the opportunity.”

Through our global Tilray Medical platform, Tilray Medical offers extensive experience in pharmaceutical-grade cultivation, manufacturing and distribution, clinical research and regulatory expertise based in more than 20 markets worldwide. Tilray Medical has helped hundreds of thousands of patients worldwide and offers an extensive portfolio of medical cannabis products, including CBD and THC: beverages, edibles and topicals.

Tilray Introduces ATM Program to Accelerate Global Beverage Expansion
To support this next phase of growth, Tilray has also announced that it will introduce a market equity program (the “ATM program”) of up to $180 million to improve financial flexibility and invest behind its global beverage platform. The ATM program will be managed by Jefferies LLC, TD Securities (USA) LLC and Roth Capital Partners LLC.

“These products have the potential to reshape how Americans approach wellness by providing accessible plant-based alternatives to traditional care, but realizing that potential will require more than discretion.”

By Thomas Winstanley, Edibles.com

For years, the hemp-derived CBD market has operated in a paradox: federally legal, accessible, and increasingly standardized, but without a clear regulatory framework that provides confidence to consumers and stability to businesses. The The latest move by the Food and Drug Administration (FDA) to use enforcement discretion for certain CBD products it is a significant step forward, emphasizing how incomplete and fragile the current system is.

Essentially, the FDA’s position acknowledges that hemp-derived cannabinoids are part of Americans’ daily wellness routine. By announcing its intention to enforce certain provisions of the Federal Food, Drug, and Cosmetic Act against orally administered CBD products, the agency is recognizing a practical way forward that is rooted in a supplemental framework with safety, labeling, and marketing protections.

That matters. For the first time in decades, cannabinoids are being discussed in terms that resemble the Dietary Supplement Health and Education Act of 1994 (DSHEA). The implication is a viable path forward for CBD products, as consumers already engage with wellness through vitamins, nutraceuticals and other over-the-counter formats, with expectations of quality and transparency.

But let’s be clear about what this is and what it isn’t.

This is not absolute regulatory approval. It does not establish CBD as Generally Recognized as Safe (GRAS), and does not create lasting protection for the wider market. Instead, it reflects a selective enforcement policy under narrow conditions. Products must meet supplement-style standards, avoid contamination, be child-resistant, and dispensed in a physician-directed Medicare-affiliated setting. That last point is where the gap is most obvious.

FDA’s position is limited to a very specific use case related to healthcare programs. It does nothing to address the much larger and more dynamic reality of the national consumer market, which includes retail, e-commerce and direct-to-consumer platforms. Here’s where millions of Americans already access CBD and companies have built entire categories without federal oversight.

Industry is no longer a fringe experiment. Since the 2018 Farm Bill, hemp-derived products have grown into a multibillion-dollar industry, expanding access to cannabinoids in ways that state-regulated cannabis markets cannot. In doing so, the category has helped normalize THC and reshape public perception, introducing new consumers and expanding acceptance of plant-based alternatives to wellness.

Consumers are integrating these products into their daily lives. Sleep support, stress management, recovery and general wellness are the core use cases today. From small businesses to national platforms, companies have also invested heavily in building responsible and compliant offerings to meet this demand. However, the rules governing this market remain fragmented and sometimes contradictory.

Federal agencies continue to send mixed signals. States have established a patchwork of consistent standards. Responsible operators such as those investing in testing, labeling and compliance are forced to compete alongside bad actors who exploit regulatory gray areas. The result is a market that works, but not efficiently and certainly not safely at scale. Therefore, the FDA’s move, while encouraging, is not a comprehensive solution.

Selective enforcement is not regulation. It offers temporary flexibility, not long-term certainty. It expresses tolerance, not acceptance. Without action from Congress, the entire category is vulnerable to sudden policy changes that could disrupt supply chains, deter investment and erode consumer confidence.

In fact, recent legislation is in danger of holding the industry back. The narrowing of the federal definition of hemp in the final credit framework introduces new ambiguity around product eligibility, particularly for cannabinoids that fall outside the traditional interpretation.

Without clear federal standards, we risk an outcome worse than the problem policymakers are trying to solve. Rules that are too restrictive or unclear will not remove the application. They will simply redirect you to unregulated or imported products that potentially lack basic safety oversight. That’s a real consumer protection risk.

At the same time, the US must dismantle a largely domestic supply chain as it reaches significant scale, undermining the farmers, manufacturers and retailers who have diligently built this industry. None of this is to dismiss the FDA’s progress.

The agency deserves credit for taking a pragmatic step forward. Its emphasis on pollution-free products, responsible marketing and clear labeling reflects principles that the entire industry should embrace. These are not debatable standards. These are basic expectations. However, they should be applied broadly, not selectively.

FDA’s recent actions and increasing alignment between the executive branch and the legislature indicate the need for a federal framework. It reflects openness to integrating cannabinoids into established regulatory systems. It also reinforces the importance of safety and supervision. What it doesn’t do is solve the problem.

Only Congress can provide the clarity this market demands. A comprehensive federal framework that establishes consistent standards for manufacturing, labeling, distribution, and access is needed. This step is essential to unlocking the full potential of hemp-derived cannabinoids.

This is a significant opportunity. These products have the potential to reshape how Americans approach wellness by providing accessible plant-based alternatives to traditional care, but realizing that potential will require more than discretion. He will ask for a policy. Until then, the FDA’s change is a step in the right direction. It is not the destination.

Thomas Winstanley is Executive Vice President and CEO Edibles.com®an innovative and reliable marketplace for high-quality THC products, offering convenient direct-to-consumer delivery.

user photo Nanny Kimzy.

Vireo Growth and Glass House Brands have announced a joint venture to build one of the largest and most strategic cannabis retail platforms in California. Subject to certain regulatory and closing conditions, each company will bring its California dispensary operations to the combined entity in exchange for 50% ownership.

Vireo operates twelve dispensaries and home delivery operations that it recently acquired from Eaze, Inc. (“Eaze”). Today, Glass House has eleven stores in California. Together, the combined network will be supported by a preferential supply agreement with Glass House, California’s most efficient large-scale cannabis grower. After five years, Vireo will have the option to acquire Glass House’s stake in the joint venture, and Glass House will own the mutual well.

Cory Azzalino, Vireo’s California president, has been named CEO of the joint venture, where he will oversee operations and lead the platform’s retail acquisition and expansion strategy.

“California continues to be the largest legal cannabis market in the world, and this joint venture allows us to unlock its potential in a way that no one company can achieve alone,” said Kyle Kazan, founder, president and CEO of Glass House. “Vireo brings unparalleled retail reach and delivery infrastructure through the Eaze platform, while Glass House supports proven retail execution, low-cost, large-scale production and deep brand equity. Together with Vireo, we have found a way to mitigate California’s challenging pricing dynamics and enhance the value of our retail operations without expanding Glass House’s focus on selling biomass outside of the state.”

“Glass House is the ideal partner to collaborate with to build the future of cannabis retail in California,” said Vireo CEO John Mazarakis. “Their production scale and brand strength, combined with Vireo’s retail depth and access to one of the industry’s leading technology-based delivery platforms, creates a joint venture that is greater than the sum of its parts – serving more consumers, supporting independent brands and providing a compelling home for operators looking for a strong, capitalized partner.”

The joint venture’s integrated delivery capabilities through the Eaze platform will expand distribution to areas with limited retail access, offering competitive pricing that supports the legal market.

“I am proud to lead this platform and the opportunity it represents,” said Cory Azzalino. “Our combined retail and delivery network gives us the reach and resources to bring high-quality, affordable cannabis to consumers across California, including underserved communities, seeking disciplined growth that strengthens the long-term legal market.”

For more information:
vireo
vireohealth.com