Tilray acquires $9.3M promissory note; issues 1.98M shares to DDH

Tilray Brands, Inc.

Acquired promissory note of $9,264,249.68 from Double Diamond Holdings (DDH), payable by Aphria Diamond.
Issued 1,979,541 shares of Class 2 common stock as consideration for the note.
Shares issued under Regulation S exemption; no underwriter or commissions paid.
DDH is a joint venturer with Tilray's subsidiary in Aphria Diamond.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Tilray Brands, Inc. entered into Assignment and Assumption Agreement with Double Diamond Holdings Ltd. valued at $9,264,249.68 (effective 2022-12-05).

Action: entry
Agreement: asset purchase
Counterparty: Double Diamond Holdings Ltd.
Value: $9,264,249.68
Effective: 2022-12-05

Exact text from the filing

On December 5, 2022, Tilray Brands, Inc., a Delaware corporation (“ Tilray ”), entered into an assignment and assumption agreement (the “ Assignment and Assumption Agreement ”) with Double Diamond Holdings Ltd. (“ DDH ”), an Ontario corporation, pursuant to which, among other things, Tilray acquired from DDH a promissory note in the amount of USD$9,264,249.68 (the “ Note ”) payable by 1974568 Ontario Limited (“ Aphria Diamond ”).

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Tilray Brands, Inc. filing history →

Source: SEC EDGAR

accession 0001140361-22-044538

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