Page 1

TILRAY Tilray Stockholders Approve Proposal to Increase Authorized Shares at Special Meeting September 10 , 2021 Providing Company with Additional Shares to Execute Against Strategic Plan to Accelerate Growth and Drive Value Creation NEW YORK & LEAMINGTON , Ontario -- ( BUSINESS WIRE ) -- Sep . 10 , 2021-- Tilray , Inc. ( " Tilray " or the " Company " ) ( NASDAQ | TSX : TLRY ) , a leading global cannabis - lifestyle and consumer packaged goods company , today announced that stockholders holding more than a majority of its issued and outstanding shares of common stock have approved an increase in the number of authorized shares of its common stock . Irwin D. Simon , Chairman and CEO , Tilray said : " We brought together Tilray and Aphria less than five months ago with a clear vision to create the world's leading cannabis - focused consumer brands company . Since that time , we have been laser focused on capitalizing on the strength of our unparalleled geographic footprint and operational scale to drive the performance of our Company . Due to the support of our stockholders , Tilray now has the resources we need to build on our momentum and execute on our plans . We sincerely thank our stockholders for their investment in the Company and we are committed to driving strong value creation now and into the future . " Building on Strong Momentum Since the merger of Tilray and Aphria , which closed in May 2021 , the new Tilray has made substantial strides across its business , by driving increased revenue through rapidly expanding its international medical business , introducing a new medical brand in Canada while increasing its share in that market , and making strong progress towards its target of $ 80 million in synergies . The Company also recently acquired a majority of the outstanding convertible notes of MedMen Enterprises , Inc. ( CSE : MMEN ) ( OTCQX : MMNFF ) , the premier American cannabis retailer , enabling Tilray to move quickly in harnessing the opportunity it has in the $ 80 billion U.S. cannabis market when federal legalization allows . Executing on Strategic Growth Plan With additional authorized shares , Tilray is now able to accelerate its progress towards its goal of delivering $ 4 billion in revenue by the end of fiscal 2024 by taking full advantage of its competitive differentiators and executing on its strategy . • The industry's broadest geographic footprint and operational scale - Tilray now possesses both the geographic footprint and operational scale to emerge as a consolidator in the global cannabis market . • Leadership position in Canada , with a complete portfolio of product offerings and carefully curated brands - Tilray plans to further strengthen its position as the # 1 Canadian LP in total sales with the goal of increasing its retail market share from 16 % to 30 % by the end of fiscal 2024 . • Tremendous international growth opportunities from a strong base- Tilray is focused on further expanding its strong presence in the European Union , which has two - times the population of the U.S. , with the goal of generating $ 1 billion in revenue . • A leading U.S. CPG platform to be immediately leveraged for cannabis products upon federal legalization - Tilray currently has a strong consumer packaged goods presence and infrastructure with two strategic pillars , SweetWater , the 11th largest craft brewer in the U.S. , and Manitoba Harvest , a pioneer in branded hemp , CBD and wellness products , with access to 17,000 stores in North America . Together , they currently generate more than $ 100 million and are profitable , and have clear opportunity for continued growth . • Accretive acquisitions and other growth opportunities - In addition to our recent acquisition of the majority of MedMen's convertible notes , the Company intends to actively pursue accretive and strategic acquisition opportunities in the U.S. , Canada , and globally . About Tilray Tilray , Inc. 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 the worldwide community to live their very best life by providing them with products that meet the needs of their mind , body , and soul and invoke a sense of wellbeing . Tilray's mission is to be the trusted partner for its patients and consumers by providing them with a cultivated experience and health and wellbeing through high - quality , differentiated brands and innovative products . A pione er 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 alcoholic beverages . For more information about Tilray , Inc. , visit : http://www.Tilray.com Forward - Looking Statements