Tilray is set to merge with its largest shareholder Privateer Holdings, in an unusual deal that the company says is “tax-efficient” for Privateer shareholders and good for managing Tilray’s float. Aleafia joins a growing list of companies to secure outdoor cultivation, while Green Growth Brands is expanding its retail footprint in the U.S. with a 70-store deal with Brookfield Properties. Canadian retailer Fire Flower says its done $25-million in sales since October.
– Mark Rendell
Tilray’s largest shareholder to merge with company
Tilray Inc.’s founder and largest shareholder, Privateer Holdings, is planning to merge with a wholly-owned subsidiary of Tilray, to “provide for the orderly release of the 75 million Tilray shares held by Privateer to Privateer’s equity holders.” The Seattle-based venture capital firm currently owns around 77 per cent of Tilray. After the proposed merger, Tilray will issue new stock to Privateer’s investors, while the