Tilray Capital Needs
Tilray Brands (TLRY) announced that the Company has entered into an agreement for the issuance of 120,000 shares of Series A Preferred Stock. The Series A Preferred Stock will convert automatically to Class 2 Common Stock on a one-for-one basis upon the closing of the polls at the Company’s adjourned annual meeting of stockholders. “We believe the issuance of the Series A Preferred Stock will help amplify and safeguard the rights of all stockholders through the approval of our proposed Charter Amendment. This would ultimately help execute our strategic plan by facilitating accretive acquisitions,” commented Irwin D. Simon, Tilray Brands’ Chairman and Chief Executive Officer. “An overwhelming majority of our stockholders that have voted at our annual meeting have voted in favor of the Charter Amendment (Proposal 3), but due to the nature of our stockholder base, the proposal to amend our Charter does not yet have enough votes to pass,” Mr. Simon continued. “The Series A Preferred Stock has been structured to protect stockholder interests and is an important part of our efforts to simplify the Company’s capital structure and modernize our corporate governance with our proposed Charter Amendment.”
Another MSO Selling Assets
MedMen Enterprises (MMNFF) updated shareholders on its progress in the company’s restructuring efforts last week and said they hired ATB Capital Markets to help the company review and sell one or more of its non-core assets in Arizona, Illinois, and Nevada. ATB will help MedMen determine which assets to sell to boost liquidity and maximize shareholder value with an asset-light model. If you recall, last year MedMen was trying to sell their New York assets to Ascend Wellness but Ascend decided not to go through with the deal. This has been a common theme that we have seen in the cannabis space.
Consumables Q&A CALL Invite
WE WILL EXPLORE THE FOLLOWING TOPICS:
- Discuss the pushback and feedback from our recent Black Book calls.
- Provide thoughts for 2023.
- Discuss 4Q22 earnings.
- Discuss the most common and noteworthy inbounds we have received in the past month.
- Revisit changes to our Position Monitors.
- Provide updates on some of our best ideas.
- Discuss recent trend changes in consumer spending.
CALL DETAILS:
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