NEW YORK - Tilray (NASDAQ:TLRY) Brands, Inc. (NASDAQ:TLRY; TSX:TLRY), a global lifestyle and consumer goods company, has announced the release of a new line of non-alcoholic beverages under several brand names, including Liquid Love, Herb & Bloom, Happy Flower, Runner's High, and Montauk Brewing Company.
Liquid Love offers a selection of sparkling waters infused with electrolytes and B-vitamins, available in four natural flavors: grapefruit, lemon + lime, ginger and prickly pear, and wildberry. The company is also donating five cents from each sale to non-profit organizations that focus on clean water and conservation efforts.
Herb & Bloom's product line features hemp-derived Delta-9 THC-infused mocktails in three flavors: Margarita, Strawberry Daiquiri, and Peach Bellini, each containing 5mg of THC per can. Similarly, Happy Flower presents a trio of non-alcoholic THC cocktails in Margarita, Strawberry Daiquiri, and Peach Bellini flavors.
Runner's High caters to the active community with non-alcoholic craft brews designed to mimic the beer experience. Their offerings include Golden Wheat, Raspberry Wheat, and a Dark Chocolate brew, each crafted with natural ingredients to support and enhance hop terpenes.
Montauk Brewing Company has introduced its first non-alcoholic IPA, featuring Citra, Mosaic, and Cryo hops, offering a full-flavored IPA experience without the alcohol content.
These products are produced and marketed by American Beverage Crafts, Tilray Alternative Beverages, Tilray Wellness, and Montauk Brewing Company, respectively. Each brand's website provides further details on their offerings. The company's expansion into non-alcoholic beverages comes amid impressive revenue growth of 24.76% in the last twelve months. InvestingPro subscribers can access detailed analysis and 8 additional ProTips about Tilray's financial health and growth prospects.
Tilray Brands operates in Canada, the United States, Europe, Australia, and Latin America, supporting over 40 brands in more than 20 countries. The company's mission is to be a leading premium lifestyle company that inspires joy and creates memorable experiences.
This news is based on a press release statement and aims to inform consumers and investors about Tilray's latest product offerings in the non-alcoholic beverage market.
In other recent news, Tilray Brands, Inc. has seen a flurry of activity. The company reported a record net revenue of $200 million for the first quarter, marking a 13% year-over-year increase. The beverage division of the company witnessed a significant growth of 132% in net revenue. Additionally, Tilray secured lender approval for the acquisition of craft beer brands from Molson Coors (NYSE:TAP) Beverage Company, aligning with the company's diversification efforts.
On the corporate front, Tilray increased its authorized shares from 1,208,000,000 to 1,426,000,000 following a stockholder vote. This move could potentially impact the company's capital structure and provide the flexibility to issue more shares for various corporate purposes. Steven M. Cohen, a seasoned professional, was also appointed to the company's board of directors.
Legal matters have also kept Tilray in the headlines. The company emerged victorious in a lawsuit challenging the voting standard used during its stockholder meetings. However, it is currently facing another lawsuit filed by a shareholder challenging the voting standards used for shareholder approval of certain corporate actions. The company has expressed disagreement with the allegations and intends to defend against the lawsuit vigorously. These are the recent developments for Tilray Brands, Inc.
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