Tilray Brands, Inc. (NASDAQ:TLRY) entered into an agreement with its joint venture partner Double Diamond Holdings Ltd. to acquire two promissory notes worth $8.46 million and $30.9 million, reported Seeking Alpha.
The total sum of over $39 million will be payable by Ontario-based Aphria Diamond, a joint venture between greenhouse operator Double Diamond and Aphria Inc, which Tilray acquired in May 2021.
In return, Tilray agreed to issue some 10.27 million shares of its Class 2 common stock to DDH.
No underwriter participated in the offer and sale of the Consideration Shares, and no commission or other remuneration was paid or given directly or indirectly in connection therewith.
TLRY Price Action
Tilray’s shares traded 1.40% higher at $3.63 per share during the pre-market session on Friday morning.
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