Tilray to expand medical cannabis ops into Panama

Executive Summary

• Tilray Medical (a division of Tilray Brands Inc.) has entered into a joint venture with Top Tech Global Inc. to expand its medical cannabis operations into Panama.
• The joint venture entity, Solana Life Group, has received a medical cannabis license from the National Directorate of Pharmacy and Drugs in Panama.
• The license authorizes the cultivation, manufacturing, import, export, distribution, and sale of medical cannabis within Panama, marking a significant international expansion for Tilray.

Key Details

• Parties Involved: Tilray Medical (Tilray Brands Inc.) and Top Tech Global Inc.
• Joint Venture Entity: Solana Life Group.
• Regulatory Approval: Received a medical cannabis license from the National Directorate of Pharmacy and Drugs in Panama.
• Licensed Activities: The license authorizes the full spectrum of medical cannabis operations, including:
  • Cultivation
  • Manufacturing
  • Import
  • Export
  • Distribution
  • Sale
• Strategic Rationale: Tilray aims to leverage its global expertise combined with Top Tech’s local experience (members have extensive experience in medical device distribution since 2014) to facilitate the launch and continuing distribution of medical cannabis products across Panama.
• Operational Focus: Tilray intends to collaborate with health care professionals, regulatory authorities, and patient advocacy organizations to provide therapeutic alternatives, maintain a reliable supply chain, and offer education to the Panamanian medical community.

Notable Quotes

• "This expansion represents a further progression in Tilray's mission to support patients and health care practitioners globally, advancing health care through compassion and innovation."