Montauk Brewing Company Celebrates 11-Year Anniversary and Announces 2023 Summer Season Lineup

New York’s Leading Craft Brewer Introduces New Summer Beers and Expands Brew Barn Bar Locations Across Popular Venues

NEW YORK, June 22, 2023 (GLOBE NEWSWIRE) — Montauk Brewing Company (“Montauk Brewing” or “Montauk”), the #1 and fastest-selling craft brewer in Metro New York according to Nielson data¹ known for its exceptional craft beers and a subsidiary of Tilray Brands, Inc. (NASDAQ: TLRY and TSX: TLRY), is pleased to share its latest business updates. The company celebrates their 11-year anniversary with an exclusive launch of their new Peaches & Cream Ale and introduces their new lineup of refreshing craft brews joining its family. Additionally, Montauk brings its Brew Barn to Belmont Park and Saratoga Race Course, kicking off the new summer season.

11-Year Anniversary Celebration:

Summertime in the heart of Montauk is as busy as it gets. Celebrating its 11-year anniversary, the Montauk team welcomes fans on June 22, 2023, from 12 p.m. to 8 p.m. at its flagship Brew Barn in Montauk, New York at 62 South Erie Avenue, where they will be launching a new limited-edition Peaches & Cream Ale available exclusively at Montauk Brewing’s taproom. The new Peaches & Cream Ale (4.5% alcohol by volume) is brewed with delicious peaches and Madagascar vanilla bean, reminiscent of a classic summertime creamsicle. Embodying Montauk’s dedication to crafting innovative and highly approachable beers, the celebratory Peaches & Cream Ale combines incredible flavors for fans to enjoy all summer long.

Following the April launch of Project 4:20, Montauk continues to support local green charities around environmental sustainability, coastal resilience, and water quality. The 11-year anniversary event will coincide with a beach cleanup the same weekend following the event from June 24^th to June 25^th, hosted by Montauk Brewing and the Surfrider Foundation; with a portion of the proceeds from Peaches & Cream Ale supporting the Surfrider Foundation’s Long Island Chapter.

Among other anticipated summer initiatives, Montauk invites fans to join them in signing their custom anniversary surfboard on-site in the taproom to commemorate this very special day. Montauk has always focused on their fans, and so the signature surfboard is a unique way for the fans to solidify their place in the Montauk Brewing Company family.

Exciting New Craft Brews:

Montauk Brewing introduces a refreshing lineup of new craft brews, including Box of Montauk, Tropical IPA, The Surf Beer, and Major Wave Chaser. These beers are available in various formats, including 6-packs, 12oz cans, and single-serve 19.2oz cans.

• Box of Montauk: Montauk’s first-ever variety twelve-pack features signature favorites and new innovations, including Wave Chaser IPA, The Surf Beer, Juicy IPA, and Tropical IPA, available in 12oz cans.

• Tropical IPA: A fruit-forward IPA infused with succulent mango and pineapple available in 6-packs and on draft, comes with an impressive 7.3% ABV, transporting your taste buds to a tropical paradise.

• The Surf Beer: This light and refreshing year-round Golden Ale is artfully crafted with Motueka hops and features a delightful 4.5% ABV, available in 6-packs and on draft, ensuring every sip evokes the carefree essence of summer.

• Major Wave Chaser: Montauk’s spin-off from their #1 Craft IPA, the Major Wave Chaser is a robust and flavorful brew, with a 9.2% ABV exclusively available in single-serve 19.2oz cans. 

Partnerships with Belmont Park and Saratoga Race Course:

Following Montauk’s Brew Barn premiere at Citi Field, Montauk continues to open new branded spaces in New York, at both Belmont Park and Saratoga Race Course, building off the original Brew Barn name. Belmont Park will feature Montauk’s craft beers until July 9, 2023, while at Saratoga Race Course, Montauk Brewing will be showcased in the backyard and Taste NY Pavilion from July 13, 2023, to Labor Day, September 4, 2023. Most recently, Montauk Brewing was also the presenting sponsor of Toast, a craft beer festival featuring 15 New York craft breweries, held on the 155^th running of Belmont Stakes Day, Saturday, June 10, attended by thousands of enthusiastic craft beer drinkers.

“Nothing says summer in New York like sipping on a cold Montauk brew,” said Ty Gilmore, President, U.S. Beer, Tilray Brands. “We are thrilled to celebrate our 11-year anniversary alongside our community, and as a New York brand, we welcome our partnerships with Belmont Park and Saratoga Race Course. We invite guests to come as they are and enjoy their favorite beers at some of their favorite summer events.”

As the summer season comes full force, Montauk Brewing is poised to capture the hearts and taste buds of beer enthusiasts with its exciting new product lineup, partnerships, and experiential opportunities. Its beloved brews are now available across 3,500+ retail locations and several of NYC’s major venues including Citi Field, Madison Square Garden, Moynihan Train Hall, UBS Arena, Bridgeport and Jones Beach Ferry Line, Jones Beach Theater, and now Belmont Park and Saratoga Race Course. Montauk Brewing’s distributors in the U.S. include Origlio Beverage, and Banko Beverage Beverage Co., Shore Point Distributing Company, Inc., Kramer Beverage Company, Oak Beverages Inc., Lake Beverage Corporation, Saratoga Eagle, Eagle Beverage Company, Try-It Distributing, A.L. George, Mc Craith Beverages, Dutchess Beer Distributors, Northeast Beverage, Boening Brothers, SKI Distributing, Kohler Distributing, F&F Distributors, Inc., and C&C Distributors RI.

About Montauk Brewing Company

Montauk Brewing Company (“Montauk Brewing”), founded in 2012 by longtime friends, embraces the motto “Come as You Are,” honoring adventure and passion for the simple pleasures in life. Today, the beloved brand is the #1 fastest-selling Craft Brewery in Metro New York according to Nielson data and is a subsidiary of Tilray Brands (Nasdaq: TLRY; TSX: TLRY).

Montauk Brewing invites you to visit their red Brew Barn in downtown Montauk, open year-round for fresh beer needs, located just steps from the surf – right where it belongs.

Montauk Brewing is a subsidiary of Tilray Brands, Inc. (Nasdaq: TLRY; TSX: TLRY), a leading global cannabis-lifestyle and consumer packaged goods company inspiring and empowering the worldwide community to live their very best life.

For further information about Montauk Brewing Company, please visit www.montaukbrewingco.com and follow @montaukbrewco.

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 – by inspiring and empowering a worldwide community to live their very best life, enhanced by moments of connection and wellbeing. Tilray’s mission is to be the most responsible, trusted, and market-leading cannabis and consumer products company in the world with a portfolio of innovative, high-quality, and beloved brands that address the needs of the consumers, customers, and patients we serve. 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 how we open a world of well-being, visit www.Tilray.com and follow @tilray on all social platforms.

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 and U.S. 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. 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:

Montauk Brewing Company Media:

Chris Hong, christopher.hong@rygr.us, (970) 924 – 0704 ext. 2103,

Tilray Brands Media: Berrin Noorata, news@tilray.com

Tilray Brands Investors: Raphael Gross, (203) 682-8253, Raphael.Gross@icrinc.com

¹ Nielsen xAOC & Food 2022

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