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Tilray Brands sees revenues rise; boosted by alcoholic beverage sales

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LEAMINGTON, ONT. – Cannabis and beverage company Tilray Brands, Inc. says it lost US$15.4 million in its fiscal fourth quarter, a US$104.4-million improvement from a year earlier when it lost US$119.8 million in the same period.

The company, which has headquarters in New York and Leamington, Ont., says its net loss for the three months ended May 31, 2024 works out to four cents per share, compared to 15 cents per share in the prior year’s quarter.

Tilray says its revenue for the quarter was US$229.9 million, up from US$184.2 million in the fourth quarter of 2023.

Its revenue in the alcoholic beverage category increased 137 per cent in the quarter to US$76.6 million, from US$32.4 million in the prior year’s quarter.

Tilray has been working to diversity and expand its alcoholic beverage portfolio.

In October 2023, Tilray completed the acquisition of eight craft beer and beverage brands from Anheuser-Busch Companies, a deal that Tilray says has helped boost its revenues in this category.

This report by The Canadian Press was first published July 29, 2024.

Companies in this story: (TSX:TLRY)

The Canadian Press. All rights reserved.

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Health Canada approves updated Novavax COVID-19 vaccine

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Health Canada has authorized Novavax’s updated COVID-19 vaccine that protects against currently circulating variants of the virus.

The protein-based vaccine, called Nuvaxovid, has been reformulated to target the JN.1 subvariant of Omicron.

It will replace the previous version of the vaccine, which targeted the XBB.1.5 subvariant of Omicron.

Health Canada recently asked provinces and territories to get rid of their older COVID-19 vaccines to ensure the most current vaccine will be used during this fall’s respiratory virus season.

Earlier this week, Health Canada approved Moderna’s updated mRNA COVID vaccine.

It is still reviewing Pfizer’s updated mRNA vaccine, with a decision expected soon.

This report by The Canadian Press was first published Sept. 19, 2024.

Canadian Press health coverage receives support through a partnership with the Canadian Medical Association. CP is solely responsible for this content.

Note to readers: This is a corrected story. A previous version erroneously described the Novavax vaccine as an mRNA shot.

The Canadian Press. All rights reserved.



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Endangered North Atlantic right whale spotted entangled in Gulf of St. Lawrence

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HALIFAX – The federal Fisheries Department says an endangered North Atlantic right whale has become entangled in gear in the Gulf of St. Lawrence.

The department says the whale was sighted Wednesday by a Transport Canada aerial surveillance team northeast of the Gaspé Peninsula, off Anticosti Island.

Officials say it’s not known what type of gear has entangled the whale or where the gear came from.

Based on observation, experts at the New England Aquarium have confirmed the whale is a female known as Chiminea.

The department says it is continuing to monitor the area and if the whale is located and conditions allow, efforts will be made to disentangle the animal.

Last October, the North Atlantic Right Whale Consortium estimated there were 356 North Atlantic right whales left on the planet.

This report by The Canadian Press was first published Sept. 19, 2024.

The Canadian Press. All rights reserved.



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Nelly Furtado to perform at Invictus Games opening cermony with Bruneau and Kahan

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VANCOUVER – Canadian pop icon Nelly Furtado has been named one of three headliners for the opening ceremony of the upcoming Invictus Games.

Furtado, from Victoria, will share the stage with alt-pop star Roxane Bruneau of Delson, Que., and American singer-songwriter Noah Kahan.

They’ll be part of the show that opens the multi-sport event in Vancouver and Whistler, B.C., in February.

The Invictus Games sees wounded, injured, and sick military service members and Veterans compete in 11 disciplines.

The Vancouver Whistler 2025 Games will be the first of seven editions to feature winter adaptive sports, including alpine skiing, Nordic skiing, skeleton and wheelchair curling.

British Columbia’s Lower Mainland will host the Invictus Games from Feb. 8-16.

This report by The Canadian Press was first published Sept. 19, 2024.

The Canadian Press. All rights reserved.



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