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Tilray Surges After Privateer Holdings Vows to Hold Stake Until At Least H2 2019

Martin Baccardax

Privateer Holdings, a Seattle-based private equity group that limits its investments to the cannabis industry that owns an estimated 76% of Tilary's outstanding shares, said it has a strong belief in Tilray's long-term global growth strategy and its "pioneering role" in shaping the future of the legal marijuana market. "We do not have plans to register, sell or distribute the shares Privateer holds in Tilray during the first half of 2019," Privateer managing partner Michael Blue said in a statement. "When we decide to distribute shares, we will do so in an orderly and deliberate manner to maximize tax-efficiency considerations for Privateer investors, while also taking into consideration potential impacts on Tilray's public float.