Tilray, Inc. and Privateer Holdings, Inc. Signal Letter of Intent to Lengthen Lock-up and Present for Orderly Launch of 75 Million Tilray Shares Held by Privateer
- Lock-up to be Prolonged for as much as Two Years on 77 % of Tilray’s Complete Shares Excellent
- Transaction Anticipated to be Tax-Environment friendly for Privateer Stockholders
NANAIMO, British Columbia, June 10, 2019–(BUSINESS WIRE)–Tilray, Inc. (NASDAQ:TLRY), a worldwide chief in cannabis analysis, cultivation, manufacturing, and distribution, in the present day introduced that it has signed a non-binding Letter of Intent (“LOI”) with its largest stockholder Privateer Holdings, Inc. (“Privateer”) for a transaction that may lengthen the lock-up on and supply for the orderly launch of the 75 million Tilray shares held by Privateer to Privateer’s fairness holders. These shares at the moment characterize 77 p.c of Tilray’s whole…
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