Private equity firm Privateer Holdings Inc. , has publicly announced that it does not have plans to register, sell or distribute the 75 million shares that it owns in Tilray, Inc. when its lock-up expires next week.
Michael Blue, Managing Partner of Privateer Holdings, speaking in response to market speculation, said: “Privateer Holdings strongly believes in Tilray’s long-term global growth strategy and pioneering role in shaping the future of the legal cannabis industry. Given this, we do not have plans to register, sell or distribute the shares Privateer holds in Tilray during the first half of 2019.
“When we decide to distribute shares, we will do so in an orderly and deliberate manner to maximize tax-efficiency considerations for Privateer investors, while also taking into consideration potential impacts on Tilray’s public float. And we will do it in a way that reflects our long-term confidence in Tilray’s business model and management team.”
Privateer Holdings has raised $200 million to invest in cannabis brands.Cannabis Business Worldwide