Tilray Initiates Roundtable With German Regulators to Kick-Off Draft Legislation to Legalize Adult-Use Cannabis in Germany

BERLIN, Sept. 06, 2022 (GLOBE NEWSWIRE) -- Tilray Brands, Inc. ("Tilray" or the "Company") (Nasdaq: TLRY; TSX: TLRY), a leading global cannabis and consumer packaged goods company, today announced that the Company has initiated a policy roundtable with German regulators on adult-use cannabis legalization in Germany. In this meeting, the German Drug Commissioner, Burkhard Blienert, presented the plan for adult-use cannabis legalization and repeated the German government’s announcement that a first draft of the bill would be presented in the coming months. With this event, Tilray reaffirms its leading role as a trusted partner to government regulators and contributes to German legalization efforts by sharing its long-standing expertise and experience in cannabis research, product quality and safety, supply management, patient and consumer protection, and cannabis education.

Participants in the meeting included key leaders from Germany’s health and legal committees including:

• Burkhard Blienert, Commissioner on Narcotic Drugs at the Federal Ministry of Health
• Kristine Lütke, Member of the Bundestag (FDP), Drug Policy Spokesperson
• Carlos Kasper, Member of the Bundestag (SPD), Committee on Finance
• Martina Stamm-Fibich, Member of the Bundestag (SPD), Committee on Health

Denise Faltischek, Chief Strategy Officer and Head of International, Tilray Brands, Inc., said, "We are honored to have initiated this high-level exchange on one of the world's most important cannabis endeavors. As a leading global cannabis company, Tilray Brands has unmatched experience partnering with governments and regulators to help develop responsible cannabis regulations that protect the health and safety of patients and consumers, as well as, supporting significant economic growth in countries in which it operates. We applaud the German government in leading responsible adult-use cannabis legislation in Europe and we are proud to support this effort.”

Sascha Mielcarek, Managing Director, Tilray Europe, said, "As a market leader in Germany and Europe, our highest priority for a successful launch of an adult-use market in Germany is to lead with the highest quality-control standards that are consistent and reliable for consumers and patients. Established quality certifications such as European Good Manufacturing Practice (EU-GMP) already enable manufacturers industry-wide to provide patients and consumers with cannabis of the utmost quality and safety. These standards have proven themselves in our everyday medical cannabis practice and can be considered best practices for the recreational market, as they ensure consistent quality products.”

Tilray Brands has a pioneering track record as a company committed to producing the highest-quality cannabis products available to consumers and patients in need around the world and was the first to successfully export medical cannabis from North America and import medical cannabis products into the EU in 2016. Tilray has made several strategic investments that are now resulting in first-mover advantages in Germany and Europe and the Company’s operational strength is reflected along the entire value chain with leading medical cannabis brands, a strong distribution network in Germany, and end-to-end EU-GMP supply chain, which includes two state-of-the-art EU-GMP production facilities in Portugal and Germany.

About Tilray Medical 
Tilray Medical is dedicated to transforming lives and fostering dignity for patients in need through safe and reliable access to a global portfolio of medical cannabis brands, including Tilray, Aphria, Broken Coast, and Symbios. Tilray grew from being one of the first companies to become an approved licensed producer of medical cannabis in Canada to building the first GMP-certified cannabis production facilities in Europe, first in Portugal and later in Germany. Today, Tilray Medical is one of the biggest suppliers of medical cannabis brands to patients, physicians, hospitals, pharmacies, researchers, and governments, in 20 countries and across five continents.

For more information on Tilray Medical, visit Tilray Medical Europe, Tilray Medical Canada, Tilray Medical Australia, Tilray Medical Australia-New Zealand

About Tilray Brands
Tilray Brands, Inc. (Nasdaq: TLRY and TSX: TLRY) 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 of health and wellbeing through high-quality, differentiated brands and innovative products. A pioneer 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 on how we open a world of wellbeing, visit www.Tilray.com and follow @Tilray on all social platforms.

Forward-Looking Statements
Certain statements in this communication that are not historical facts constitute forward-looking information or forward-looking statements (together, "forward-looking statements”) under Canadian securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be subject to the "safe harbor” created by those sections and other applicable laws. Forward-looking statements can be identified by words such as "forecast,” "future,” "should,” "could,” "enable,” "potential,” "contemplate,” "believe,” "anticipate,” "estimate,” "plan,” "expect,” "intend,” "may,” "project,” "will,” "would” and the negative of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Certain material factors, estimates, goals, projections, or assumptions were used in drawing the conclusions contained in the forward-looking statements throughout this communication. Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things, the Company’s ability to commercialize new and innovative products worldwide. Many factors could cause actual results, performance, or achievement to be materially different from any forward-looking statements, and other risks and uncertainties not presently known to the Company or that the Company deems immaterial could also cause actual results or events to differ materially from those expressed in the forward-looking statements contained herein. For a more detailed discussion of these risks and other factors, see the most recently filed annual information form of Tilray and the Annual Report on Form 10-K (and other periodic reports filed with the SEC) of Tilray made with the SEC and available on EDGAR. The forward-looking statements included in this communication are made as of the date of this communication and the Company does not undertake any obligation to publicly update such forward-looking statements to reflect new information, subsequent events, or otherwise unless required by applicable securities laws.

For further information:

Media: Berrin Noorata, news@tilray.com

Tilray Germany, Clemens Reisbeck, reisbeck@pivot.re

Investors:

Raphael Gross, +1-203-682-8253, Raphael.Gross@icrinc.com