Tilray Medical Receives Approval to Extend Market Authorization in Italy

Italian Ministry of Health Approves Tilray Branded Medical Cannabis for Pharmaceutical Distribution

LEAMINGTON, Ontario and CANTANHEDE, Portugal, Sept. 22, 2022 (GLOBE NEWSWIRE) — Tilray Brands, Inc. (“Tilray” or the “Company”) (Nasdaq: TLRY; TSX: TLRY), a leading global cannabis company inspiring and empowering the worldwide community to live their very best life, today announced that FL Group S.R.L. (“FL Group”), a division of Tilray Medical in Italy, has received approval from the Italian Ministry of Health to import and distribute Tilray’s medical cannabis oral solution THC25 across the country.

Denise Faltischek, Tilray’s Chief Strategy Officer and Head of International Business, said, “Expanding our approved authorization into Italy once again proves our commitment to be the most responsible, trusted and market leading cannabis company in the world with a portfolio of innovative and high-quality products that address the needs of the patients and consumers we serve.   We remain dedicated and focused on working with regulators across international markets to advocate for responsible cannabis regulations, best practices, and a reliable source of quality products.”

In Italy, where medical cannabis authorization is limited, Tilray Medical has an established national pharmaceutical distribution network with FL Group to distribute Tilray’s THC25 medical cannabis oral solution. Patients may obtain prescriptions for Tilray and other medical cannabis products in Italy through their medical doctor.

Tilray Medical is a leading provider of EU-GMP certified medical cannabis products in 22 countries with a comprehensive portfolio of THC and CBD products. Each medical cannabis product that Tilray offers has been selected to ensure patients can receive both the highest product quality as well as consistency when it comes to supply of their medicinal cannabis products.

About Tilray Medical 
Tilray Medical is dedicated to transforming lives and fostering dignity for patients in need through safe and reliable access to a global portfolio of medical cannabis brands, including Tilray, Aphria, Broken Coast, and Symbios. Tilray grew from being one of the first companies to become an approved licensed producer of medical cannabis in Canada to building the first EU-GMP-certified cannabis production facilities in Europe, first in Portugal and later in Germany. Today, Tilray Medical is one of the biggest suppliers of medical cannabis brands to patients, physicians, hospitals, pharmacies, researchers, and governments, in 22 countries and across five continents.

For more information on medical cannabis and Tilray Medical, visit www.Tilray.com/tilray-medical and follow @tilraymedical on Instagram.

About FL Group

FL Group S.R.L markets and distributes pharmaceutical, healthcare, orthopedic, and electro-medical products in Italy. In 2015, FL Group became one of the first companies authorized by the Italian Ministry of Health to import and distribute medical cannabis. Today, FL Group specializes as a leader in pharmaceutical distribution of medical cannabis for therapeutic use, pharmaceutical medicines for human and veterinary use, and a traced supply chain of products for pharmacies of innovative products to meet the needs of its customer base across Italy.

For further information on FL Group and to discover the range of products offered, please visit: www.fl-group.it

About Tilray Brands

Tilray Brands, Inc. (Nasdaq: TLRY; TSX: TLRY), is a leading global cannabis-lifestyle and consumer packaged goods company with operations in Canada, the United States, Europe, Australia, and Latin America that is changing people’s lives for the better – one person at a time. Tilray Brands delivers on this mission by inspiring and empowering the worldwide community to live their very best life and providing access to products that meet the needs of their mind, body, and soul while invoking wellbeing. Patients and consumers trust Tilray Brands to deliver a cultivated experience and health and wellbeing through high-quality, differentiated brands and innovative products. A pioneer in cannabis research, cultivation, and distribution, Tilray’s unprecedented production platform supports over 20 brands in over 20 countries, including comprehensive cannabis offerings, hemp-based foods, and craft beverages.

For more information on Tilray Brands, visit www.Tilray.com and join the conversation @Tilray.

Forward-Looking Statements

Certain statements in this communication that are not historical facts constitute forward-looking information or forward-looking statements (together, “forward-looking statements”) under Canadian securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be subject to the “safe harbor” created by those sections and other applicable laws. Forward-looking statements can be identified by words such as “forecast,” “future,” “should,” “could,” “enable,” “potential,” “contemplate,” “believe,” “anticipate,” “estimate,” “plan,” “expect,” “intend,” “may,” “project,” “will,” “would” and the negative of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Certain material factors, estimates, goals, projections, or assumptions were used in drawing the conclusions contained in the forward-looking statements throughout this communication. Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses, or current expectations concerning, among other things: expectations regarding the performance and scale of the Company, including Tilray Medical; and the Company’s ability to expand its offering to patients worldwide, including via Tilray Medical. Many factors could cause actual results, performance, or achievement to be materially different from any forward-looking statements, and other risks and uncertainties not presently known to the Company or that the Company deems immaterial could also cause actual results or events to differ materially from those expressed in the forward-looking statements contained herein. For a more detailed discussion of these risks and other factors, see the most recently filed annual information form of Tilray and the Annual Report on Form 10-K (and other periodic reports filed with the SEC) of Tilray made with the SEC and available on EDGAR. The forward-looking statements included in this communication are made as of the date of this communication and the Company does not undertake any obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws.

For further information:

Media
Berrin Noorata
news@tilray.com

Investors
Raphael Gross
203-682-8253
Raphael.Gross@icrinc.com