The City of Nanaimo has issued a statement that says Cannabis giant Tilray will be closing its operations in the city. The company manufactures and distributes medicinal cannibis and accessories.
“On behalf of Council, I am very disappointed to have learned that Tilray will be closing its cultivation facility and offices in Nanaimo. While it is my understanding that Tilray plans to close its facility in phases, by the Spring of 2022, we are mindful that employees and others will be seriously impacted by the closures. However, I am confident that given our demand for industrial lands, Nanaimo will welcome a new and significant employer soon.”
Leonard Krog, Mayor, City of Nanaimo
In May, Tilray announced its merger with Aphria Inc. , with a combined market cap of approximately US$8.2 billion based on the closing stock prices on April 30, 2021. Tilray says the closure is a result of the merger, and that Nanaimo employees may be able to move to the companies facility at Broken Coast, in the Cowichan Valley.
In response to MYCOASTNOW.COM’s request for information, the company said the following:
“Tilray will be closing its office and facility in Nanaimo, BC. With the recent business combination with Aphria, Tilray is making changes to optimize operational efficiencies.
Tilray will concentrate its local BC cultivation in the Broken Coast facility on Vancouver Island, and its international production and manufacturing in Portugal and Germany.
With the business combination of Tilray and Aphria, the Company now operates the leading state of the art cultivation and manufacturing facilities across Canada and internationally including:
o Broken Coast – Vancouver Island, BC
o Aphria One – Leamington, ON
o Aphria Diamond – Leamington ON
o High Park – London, ON
o Tilray – Cantanhede, Portugal
o Aphria RX GmBH – Neumunster, Germany
By focusing local cultivation and manufacturing at the remaining sites across Canada, Tilray will be able to operate more efficiently, save costs, and deliver the highest-quality products to its patients and consumers all while driving growth and shareholder value.
This closure will roll out in phases and is anticipated to be completed by Spring 2022. We will work with employees interested in transitioning and seeking opportunities at our nearby facility at Broken Coast on Vancouver Island, BC.”