Sign up for our daily briefing
Make your busy days simpler with the Axios AM and PM newsletters. Catch up on what's new and why it matters in just 5 minutes.
Catch up on the day's biggest business stories
Subscribe to the Axios Closer newsletter for insights into the day’s business news and trends and why they matter.
Sign up for Axios Pro Rata
Dive into the world of dealmakers across VC, PE and M&A with Axios Pro Rata. Delivered daily to your inbox by Dan Primack and Kia Kokalitcheva.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with the Axios Sports newsletter. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with the Axios Des Moines newsletter.
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with the Axios Tampa Bay newsletter.
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
Want a daily digest of the top Nashville news?
Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.
Want a daily digest of the top Columbus news?
Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.
Want a daily digest of the top Dallas news?
Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.
Want a daily digest of the top Austin news?
Get a daily digest of the most important stories affecting your hometown with the Axios Austin newsletter.
Want a daily digest of the top Atlanta news?
Get a daily digest of the most important stories affecting your hometown with the Axios Atlanta newsletter.
Want a daily digest of the top Philadelphia news?
Get a daily digest of the most important stories affecting your hometown with the Axios Philadelphia newsletter.
Want a daily digest of the top Chicago news?
Get a daily digest of the most important stories affecting your hometown with the Axios Chicago newsletter.
Sign up for Axios NW Arkansas
Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters
Want a daily digest of the top DC news?
Get a daily digest of the most important stories affecting your hometown with the Axios DC newsletter.
Participant in the Toronto Global Marijuana March 2018. Photo by Arindam Shivaani/NurPhoto via Getty Images
Tilray, a Canadian cannabis cultivation and distribution company owned by Privateer Holdings, filed for a $100 million IPO.
Why it's a big deal: The filing came just one day after Canada's Senate voted to legalize recreational cannabis sales. Tilray currently focuses on medicinal marijuana, but says it will move into the "adult-use" space once legalization is implemented this October.
- Tilray plans to trade on the Nasdaq under ticker TLRY with Cowen as lead underwriter.
- It reports a $7.8 million net loss for both 2016 and 2017, although revenue grew from $12.6 million to $20.5 million. It had a $3.7 million net loss on $7.8 million in revenue for Q1 2018.
More from Derek Hall of The Seattle Times:
"Privateer... launched Tilray in Canada in 2014. It later received a license from the Government of Portugal in 2017 to import and produce medical cannabis in the European Union. In its filing, the company said it’s the first to legally export medical cannabis from North America to Africa, Australia, Europe and South America, but those overseas sales are a small fraction of its current business."