$TLRY.TO

TSX up 6 Points at Midday, But With Most Sectors Lower

The Toronto Stock Exchange is up 6 points at midday, with most sectors lower.The biggest decliners are healthcare (-5.0%) likely on some profit taking, and info tech, down 3.5%.Industrials and utilities, up 2.2% and 1.4% respectively, are the best performers.The U.S. Department of Justice has officially reclassified cannabis as less dangerous, moving licensed medical marijuana from Schedule I - which includes the most restricted drugs such as heroin and ecstasy - to Schedule III, the same category as some prescription medicines.Reuters reports that cannabis firms will no longer be subject to Section 280E, a provision of the U.S. federal tax that prevents businesses dealing in Schedule I- and II-controlled substances from claiming tax credits and deductions for business expenses.For its part, Tilray Brands (TLRY.TO), down 5.3%, says it is "positioned" for expansion in the U.S. as federal policy opens the door to rescheduling of cannabis from Schedule I to Schedule III.

Tilray Up 14% In US Premarket Trade As Says "Positioned" For Expansion "Amid Historic Cannabis Rescheduling"

Tilray Brands (NASDAQ and TSX: TLRY) is "positioned" for expansion in the United States as federal policy there has opened the door to rescheduling of cannabis from Schedule I to Schedule III under the Controlled Substances Act, the company said Thursday,Shares in Tilray, a player in the cannabis, beverage, and wellness industries, were at at last look up more than 12% in US premarket trade on what the company called "an inflection point". They rose more than 14% in the US yesterday."A defining inflection point that represents a fundamental shift in U.S. drug policy, unlocking significant opportunities for medical cannabis clinical research, patient access, and industry standardization. The action represents the most consequential federal cannabis policy development in decades, accelerating the emergence of a regulated, science-driven medical cannabis framework in the United States," Tilray in a statement.Rescheduling has the potential to accelerate clinical research, broaden access, and "elevate the quality, consistency, and safety standards that establish medical cannabis as a legitimate pillar of modern healthcare", added Irwin D. Simon, Chairman and Chief Executive Officer.

Tilray Brands Adds Tilray Medical "Poised To Accelerate U.S. Medical Cannabis Access For Patients"

Tilray Brands Says "Positioned For U.S. Expansion Amid Historic Cannabis Rescheduling"

Tilray Files ATM Program to Accelerate Global Beverage Expansion As It Outlines Strategic Initiatives For Growth

Tilray Brands (TLRY.TO) Wednesday highlighted a series of strategic initiatives, expected to mark its next phase of growth, and they included advancing its UK healthcare platform with the Lyphe acquisition, positioning BrewDog in the beverages market, and preparing for a U.S. rescheduling and medical cannabis opportunityTilray said it had acquired the Lyphe Group, a UK-based medical cannabis clinic and digital pharmacy platform, with Lyphe Dispensary having dispensed approximately 150,000 units to date and Lyphe Clinic having treated over 16,000 patients to date. A deal "anchoring and expanding" Tilray Medical's footprint in "one of Europe's largest and most dynamic healthcare markets", it said.Six weeks following Tilray's acquisition of BrewDog, the company said it has "stabilized brewing volumes, maintained service levels across channels to ensure consistent stock availability, and has begun onboarding new distribution and strategic partners to support expansion". It is also evaluating its participation in the Center for Medicare and Medicaid Innovation pilot program.To support this next phase of growth, Tilray also announced the filing of an at-the-market equity program of up to US$180 million, "to enhance financial flexibility and to invest behind its global beverage platform."Tilray Brands chief financial officer Carl Merton said: "We remain focused on disciplined capital allocation, prioritizing investments that support our long-term growth strategy while maintaining a strong balance sheet. This structure allows us to align capital deployment with evolving market conditions and our operational priorities."Tilray shares were last seen down US$0.05, to US$6.86, in U.S. pre-market trading.

Tilray Brands Announcing a Series of Strategic Initiatives