Tilray Secures Victory Over HEXO Shareholder Lawsuit

Tilray Successfully Prevails with Dismissal of HEXO Shareholder Lawsuit

March 26, 2025 - Nanaimo, British Columbia - Tilray, Inc. (NASDAQ: TLRY), a leading cannabis company, announced today that it has successfully prevailed in a shareholder lawsuit brought by a former HEXO shareholder.

The lawsuit, filed in the Supreme Court of British Columbia, alleged that Tilray's acquisition of HEXO, a leading Canadian cannabis company, was unfair and misleading to HEXO shareholders. The court has now dismissed the lawsuit, finding in favor of Tilray.

"We are pleased that the court has dismissed this lawsuit, confirming that our acquisition of HEXO was fair and reasonable," said Irwin D. Simon, Tilray's CEO. "We believe this outcome is a testament to the strength of our business and the value we've created for our shareholders. We remain focused on our mission to be the most trusted and respected cannabis company in the world."

Tilray acquired HEXO in a deal valued at approximately $853 million in December 2020. The acquisition has been a key driver of Tilray's growth and success, expanding its reach and capabilities in the Canadian cannabis market.

The dismissal of the lawsuit is a significant victory for Tilray and its shareholders, and underscores the company's commitment to transparency and fairness in its business dealings. Tilray will continue to focus on its core mission of providing high-quality cannabis products and exceptional customer experiences, while also exploring opportunities for growth and expansion in the rapidly evolving cannabis industry.