Tilray (NASDAQ:TLRY) announced the acquisition of its import and distributor partner Alef Biotechnology SpA to re-brand it as Tilray Latin America SpA.

As quoted in the press release:

Tilray Latin America will further strengthen Tilray’s position as a global leader in the medical cannabis market. Tilray currently has medical cannabis products available in twelve countries and operates globally through its wholly-owned subsidiaries in Australia [and] New Zealand, Canada, Germany, and Portugal.

Tilray Latin America will import, produce and distribute Tilray branded medical cannabis products in Chile and create a hub to distribute Tilray products throughout Latin America, subject to local laws.

Click here to read the full press release.

Source: www.businesswire.com