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.

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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.

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:
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vireohealth.com

Supporters of A He proposed a medical cannabis ballot initiative in Idaho he said they have collected more than 100,000 signatures and are making a final push to qualify the proposal for the November general election ballot by April 30.

A group called the Idaho Natural Medicine Alliance hopes to legalize medical cannabis as a treatment option for Idahoans with debilitating illnesses such as cancer, post-traumatic stress disorder, AIDS, epilepsy, Crohn’s disease or Alzheimer’s disease.

Under Idaho law, cannabis means the same thing as marijuana, and the two terms are sometimes used interchangeably.

Currently, all forms of cannabis are illegal in Idaho, but recreational marijuana or medical cannabis is available in every state bordering Idaho except Wyoming.

Supporters said they want to legalize medical cannabis to give people with serious illnesses and chronic pain an alternative to opioid medications.

“Hundreds of people have emailed us about how they have PTSD or epilepsy and they’re driving across the border and illegally buying gummy bears because they want some dignity in their custody, in their state, but they can’t get it, and they’re still getting these things because they’re there and they’re available,” said Amanda Bomanise Wason of the initiative. “This framework includes a very strong regulatory, limited access and medical program.”

Opposition is leading the Republican-controlled Idaho Legislature, which is pushing a competitive marijuana measure on the November ballot and urging voters to reject the medical cannabis ballot initiative.

“Idaho’s Medical Cannabis Act is not guaranteed to the extent that it would effectively legalize the widespread recreational use of marijuana,” Idaho lawmakers warned in a resolution passed earlier this month.

Who’s behind Idaho’s medical cannabis ballot initiative?

Rob Cronin, a Sun Valley businessman who has opened several restaurants in Idaho and across the country, is president and treasurer of the Natural Medicine Alliance PAC.

In an interview last week, Cronin said his experience as a cancer survivor and his friendship with the late Dr. Dori Tunney, a physician and philanthropist, inspired him to push the medical cannabis ballot initiative.

Tunnery was diagnosed with glioblastoma and treated his pain with opioids, which led to severe side effects, reduced appetite and severe physical decline, Cronin and Watson said.

In treatment in California, where cannabis is legal, Tunney tried medical cannabis jelly and Cronin and Watson said his appetite and sleep returned to normal and his pain decreased.

Cronin and Watson said Tunney began advocating for the legalization of medical cannabis in Idaho in 2022, a push he continued until his death in 2024.

Cronin said she also experienced serious side effects when she used opioids after surgery after cancer treatment. Cronin said today he weighs 175 pounds, but his weight has dropped to 119 pounds due to nausea, loss of appetite and sleep loss caused by opioids.

“The pain was excruciating and I was hammering the Vicodin like it was going to go out of style,” Cronin said. “I can say in my head all day that I would choose an alternative to opioids over cannabis, because opioids put you on that funky roller coaster of, ‘Oh, I feel better. Oh, I’m depressed, and my life is bad. Oww, now I’m in pain. Another opioid. Oh, I’m depressed again and my life is bad.’ It really messes with your head.”

Cronin and Watson said they met while volunteering with Tunney to help cancer patients in Idaho. Cronin and Watson said they support the measure to try to finish Tunney’s job before the Idaho Legislature tries to further curtail the ability of voters to legalize medical cannabis in Idaho.

Watson said most of the funding for the initiative comes from an investment in Double Springs Ranch, owned by Tunney and her husband. The ranch is located in central Idaho and produces hemp and hemp fiber and raises Black Angus cattle.

What is a ballot initiative and what will it take to get medical cannabis on the November ballot?

In Idaho, a ballot initiative is a form of direct democracy in which Idaho voters—not the Idaho Legislature—vote on whether to pass a bill.

Organizers say they are taking the Idaho Medical Cannabis Act to voters as a ballot initiative because the Idaho Legislature has not taken action to legalize medical cannabis.

All states surrounding Idaho other than Wyoming offer medical cannabis, such as Utah, or recreational marijuana, such as Washington, Oregon, Montana, and Nevada.

To qualify for the November general election, organizers must collect signatures from 6 percent of registered voters statewide, or 70,725 valid signatures. In addition to the total gross, organizers must also collect signatures from 6 percent of registered voters in at least 18 of Idaho’s 35 legislative districts.

The period for verifying the signatures of the State will end on April 30.

“I would say we’re cautiously optimistic,” Watson said Friday. “Right now, we’re collecting thousands of signatures a day to make sure we cross that threshold every legislative session. There are some rural areas in Idaho where we’re working really hard to get that 6 percent. Right now, we’ve collected over 100,000 raw signatures.”

The Idaho Natural Medicine Alliance is using paid signature gatherers in an effort to qualify the initiative for election. The alliance pays $25 an hour plus incentives, Watson said.

If the initiative qualifies for the November general election, it would need a simple majority of votes to pass.

Why is the Idaho Legislature against cannabis?

If the Idaho Medical Cannabis Act makes it to the ballot, there would be marijuana-related questions on the November ballot.

The Idaho Legislature has already come out against medical cannabis and placed an amendment to the Idaho Constitution on the November ballot. If approved by a majority of voters, it would be House Resolution 4 make it so that only the Idaho Legislature, not the voters, can legalize marijuana or other narcotics.

“Too many legislatures in this nation have sat and waited for initiative after initiative to come after them until they finally get overwhelmed and pass the legislature,” Sen. Scott Grow, R-Eagle, said last year. “We are acting because that is our responsibility.”

In the 2025 legislative session, the Idaho Legislature and Gov. Brad Little (R) passed a law that creates a mandatory minimum fine of $300 for anyone convicted of simple possession of marijuana, the Idaho Capital Sun previously reported.

This year, the Idaho Legislature also passed Senate Resolution 127, which encourages Idaho voters to reject a medical cannabis ballot initiative.

In the resolution, lawmakers warn that legalizing marijuana and medical cannabis has created problems for other states and would increase the Idaho Department of Health and Welfare’s budget and costs at a time when state revenues are uncertain.

Idaho lawmakers have also complained that the requirements for obtaining a cannabis medical card would be so low that almost anyone would be able to obtain one.

“The 18 medical conditions to qualify for a cannabis license, including insomnia, anxiety and acute pain, are so broad that almost anyone can qualify,” Idaho lawmakers wrote.

On Thursday, Idaho Secretary of State officials said 10,232 signatures have been submitted so far, and the office has deemed 4,698 of those signatures valid.

How would Idaho’s Medical Cannabis Act work?

Here’s how Idaho’s Medical Cannabis Act would work for the November election if a majority of Idaho voters pass the act.

• Idahoans would be able to apply for a renewable cannabis medical card by submitting medical records showing a significant or terminal health condition such as cancer, HIV/AIDS, epilepsy, Alzheimer’s, MS, post-traumatic stress disorder, chronic pain.
• Meanwhile, the state would initially issue three medical cannabis production licenses statewide, allowing a licensee to grow, produce, distribute and sell medical cannabis to people with a valid Idaho cannabis license. When Idaho’s population increases by 650,000, additional production licenses could be issued, bringing the total to six in the state. The production license application process requires a valid Idaho hemp license in good standing, submission of an operational plan, background checks and the use of a supervising pharmacist.
• This law allows each licensee to operate up to six retail locations, two facility locations, a fulfillment center, a warehouse, and a distribution center.
• For individuals with an Idaho medical cannabis card, online ordering, delivery and pickup at distribution centers would be permitted.
• Using medical cannabis in public and sharing medical cannabis with someone who does not have an Idaho cannabis card would be prohibited by law in Idaho. It would also be illegal to drive, operate a ship, operate aircraft, operate heavy machinery or drive a train under the influence of medical cannabis.