![]() Organigram beats Q1 expectations as slow approach begins to pay off ![]() In addition to the company's quarterly results, Tilray disclosed that it acquired two other craft beer brands for about US$5.1 million to add to its growing alcohol portfolio. He does see further consolidation in Canada's cannabis market to be a trend that will extend into 2022 as the company seeks a seemingly-elusive 30 per cent market share goal. Tilray CEO Irwin Simon said the company isn't willing yet to broadly discount its offerings to win back sales, a move that its competitors have done in recent months. Revenue was up 20 per cent from a year earlier but fell 7.6 per cent sequentially as the company's leading share of the Canadian cannabis market was hit by a crowded, hypercompetitive marketplace. Tilray kicked off the week with its fiscal second-quarter results, with sales coming in just shy of analyst expectations at US$155 million, while reporting a US$6 million profitable three-month period that led to a spike in the company's stock. ![]() Tilray CEO expects more M&A this year as Q2 results show sales slide Other businesses listed for sale on the website include a Quebec-based cultivator for $4.25 million and a downtown Toronto cannabis retailer that can be yours for the low price of $550,000. For example, one B.C.-based cultivation building listed for sale for $600,000 (or best offer) is described as a licensed processing facility that reported annual sales of about $600,000. A publicly-available list on a cannabis-focused consultancy company's website shows a wide variety of assets that companies are looking to salvage as industry dynamics have rendered many of those buildings either unprofitable, obsolete, or unneeded entirely. As demand dynamics ease, pot businesses put their underperforming assets up for saleĪs Canadian cannabis companies re-evaluate their operations in light of a massive supply-demand imbalance, many businesses are putting their cultivation facilities, pot shops, and warehouses up for sale, according to a report by The Canadian Press.
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