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From: kidl8/14/2019 3:59:56 PM
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ENW ... Tilray Q Results ... TLRY shareholders are clearly not very happy but from ENW’s point of view these results and Kennedy’s approach are beneficial as ENW’s royalty is based on sales and not on TLRY’s bottom line.



FP/wire say Tilray mum on interest in Canntrust assets

The Financial Post reports in its Wednesday, Aug. 14, edition that Tilray posted a wider-than-expected second quarter loss on Tuesday. A Bloomberg dispatch to the Post reports that although revenue of $45.9-million was ahead of the consensus estimate of $40.3-million, investors appeared to focus on the $17.9-million loss before interest, taxes, depreciation and amortization (all figures U.S.). That was wider than the $14.4-million expected by analysts and comes as pot investors are increasingly focused on profitability. Tilray said the higher loss was due to rising operating costs related to growth initiatives, interest expense from its convertible notes, recent acquisitions and the expansion of its international operations. Chief executive officer Brendan Kennedy said he is sanguine about the company's ongoing losses. He said if you want to "dominate" the "global industry, you'd be constraining yourself if you were focused on profitability at this point." He said, "Globally, now's the time to invest." The Canntrust Holdings regulatory breach is "an infuriating situation," Mr. Kennedy said. He would not comment on whether Tilray is interested in acquiring any of Canntrust's assets.

© 2019 Canjex Publishing Ltd.
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