Tilray announces new deal with MedMen скачать в хорошем качестве

Tilray announces new deal with MedMen

Tilray CEO Irwin Simon joins Closing Bell just minutes after his company announces a new deal with MedMen, a cannabis retailer. Simon believes that this is the best possible position to be in for the future of the cannabis industry. 'Legalization is around the corner,' he says. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi Shares of Canadian cannabis company Tilray jumped nearly 5% in extended trading on Tuesday after announcing it invested American cannabis retailer Medmen. In the deal, Tilray and other investors acquired 75% of Medmen’s outstanding secured convertible notes from Gotham Green Partners and 65% of its outstanding warrants for $165.8 million. Once converted into stock, Tilray will have a minority stake in Medmen. Conversion of the stake is subject to regulatory approvals, U.S. legalization and other factors. Should cannabis be legalized at the federal level in the U.S., Tilray’s interest could help it establish a foothold in the U.S., Tilray said. “What Medmen does for Tilray is that it gives us a great brand. Ultimately, once legalization happens, it gives us the potential to own a great company that we can ultimately take into the rest of the world,” said Irwin Simon, Tilray’s chairman and CEO, in an interview Tuesday on CNBC’s “Closing Bell.” While Medmen is a recognized brand, it has struggled with losses in recent years, and its market value has dwindled to less than $200 million. The company operates 25 retail stores and expects to open more than five more this year. » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-n... Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC https://www.cnbc.com/select/best-cred... #CNBC #CNBCTV