Tilray Brands Plans To Consolidate Canadian Cannabis Operations, Transitioning Cultivation And Pre-Roll Production From Foss Facility In Fenwick, Ontario To Masson, Quebec And Cayuga, Ontario Facilities

Consolidation of Foss Cultivation and Pre-roll Production into Optimized Masson and Cayuga Facilities Expected to Generate Approximately US$10 Million in Annualized Cost Savings

Higher Cultivation Yields and Expected Reestablishment of EU-GMP Certification Strengthen Tilray’s Canadian Cannabis Platform and Position the Business for Continued Growth in Canada, International Markets, and Future U.S. Medical Cannabis Markets When Permissible

Tilray Raises Fiscal 2027 Adjusted EBITDA Guidance to $70 Million–$75 Million, Increasing the Lower End of the Range

NEW YORK and LONDON and LEAMINGTON, Ontario, Nov. 02, 2026 (GLOBE NEWSWIRE) -- Tilray Brands, Inc. ("Tilray" or the "Company") (NASDAQ:TLRY, TSX:TLRY), a global lifestyle and consumer packaged goods company with leading positions across cannabis, beverage, hospitality and wellness, today announced plans to consolidate its Canadian cannabis operations, transitioning cultivation and pre-roll production from its Foss facility in Fenwick, Ontario to its Masson, Quebec and Cayuga, Ontario facilities. This strategic initiative is expected to generate approximately US$10 million in annualized cost savings by the end of fiscal 2028. The transition of cultivation to Masson, a state-of-the-art cannabis cultivation facility with higher yields and lower operating costs, is expected to further improve operating efficiency and increase profitability.