Tilray’s Acquisition of Alef Biotechnology

Carey advised Tilray on the deal

Tilray, Inc. (NASDAQ: TLRY), a global leader in cannabis research and production, has completed an acquisition of its existing import and distribution partner Alef Biotechnology SpA. The acquisition will allow Tilray to import, produce and distribute Tilray branded medical cannabis products in Chile and to create a hub to distribute Tilray products throughout Latin America.

Tilray purchased all the outstanding equity of Alef for approximately C$5,000,000 (Canadian dollars). The purchase was comprised of approximately C$250,000 in cash paid at closing, and C$4,750,000 in Tilray Class 2 common stock, subject to a standard working capital adjustment and Alef achieving certain business milestones within a twelve-month period after closing.

Tilray previously announced a partnership with Alef in February 2017 to import and distribute Tilray products in Chile and Brazil. Alef is currently licensed by the Chilean government to commercially produce medical cannabis and is developing a state-of-the-art facility to domestically produce and process medical cannabis products. Chilean law permits patients to access medical cannabis products under the supervision of a recommending physician.

Carey advised Tilray in the transaction with a team including Francisco Guzmán (Picture), Ignacio Gillmore, Andrés Latorre and Nicolás Calderón.

Involved fees earner: Francisco Guzmán – Carey; Andrés Latorre – Carey; Nicolás Calderón – Carey; Ignacio Gillmore – Carey;

Law Firms: Carey;

Clients: Tilray Inc.;

Author: Ambrogio Visconti.