MediPharm Settles Commercial Agreement Dispute With Tilray's Hexo For $9M
Portfolio Pulse from Nina Zdinjak
MediPharm Labs Corp. has settled a commercial agreement dispute with Tilray's Hexo for $9 million. The dispute was over a long-term supply agreement for cannabis concentrates. As part of the settlement, Hexo will abandon its appeal against MediPharm. The settlement includes a $3 million immediate cash payment, $4.5 million in Tilray common shares, $1 million in Tilray cannabis products, and a $500,000 supply agreement to provide Tilray with MediPharm products and services over four years.
October 02, 2023 | 1:49 pm
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POSITIVE IMPACT
MediPharm's settlement with Tilray's Hexo could strengthen its balance sheet and open up new growth opportunities.
The settlement will provide MediPharm with immediate cash, Tilray shares, and a long-term supply agreement, which could enhance its financial stability and growth potential.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Tilray could benefit from the settlement through access to MediPharm's unique pharmaceutical products and services.
The settlement includes a long-term supply agreement that could give Tilray access to MediPharm's unique pharmaceutical products and services, potentially enhancing its product portfolio and market reach.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80