High Park™ Expands Supply Capacity with Sale License from Health Canada

High Park Holdings Ltd. (“High Park”), a wholly-owned subsidiary of
Tilray, Inc. (NASDAQ:TLRY), announced today that it has received an
amendment to its standard processing license under the Cannabis Act.
The amended license allows High Park to sell finished cannabis products
from its state-of-the-art facility in London, Ontario to provincially
and territorially authorized distributors and retailers in Canada.

Led by a team of industry experts responsible for innovation, research
and the development of High Park’s portfolio of cannabis products, the
High Park London facility was commissioned to develop, process and sell
a wide-range of finished branded products under current and future
regulations, including edibles (such as confectioneries and beverages),
topicals, and concentrates, exclusively for the adult-use cannabis
market in Canada. With its new amended processing license, High Park is
authorized to sell from its London facility both dried cannabis and
cannabis oil products - two form factors currently permitted under
Health Canada regulations - boosting its capacity to supply adult-use
cannabis products in the Canadian market.

In April 2018, High Park announced an initial investment of up to C$10
million in its 56,000-square foot London facility, with room to expand
further. This processing and R&D facility works in collaboration with
High Park’s affiliated Ontario facilities: High Park Farms Ltd. (“High
Park Farms”), a cultivation and processing facility located in
Enniskillen, Ontario, and Natura Naturals Inc. (“High Park Gardens”), a
cultivation and processing facility located in Leamington, Ontario,
which was acquired by Tilray, Inc. in February 2019. High Park Farms
received its initial production license in April 2018 and a sales
license in September 2018; High Park Gardens received its initial
production license in September 2017 and its processing license in March
2019.

High Park and its affiliates have fulfilled adult-use supply agreements
and purchase orders across Canada since the federal legalization of
adult-use cannabis on October 17^th, 2018. High Park will
continue to offer consumers a broad-based portfolio of world class
adult-use products as it grows its supply chain and expands its
production capacity in Canada.

“This amended license for our facility in London increases High Park’s
capacity to offer consumers a wide-range of adult-use products from
dried flower and oils to differentiated form factors like edibles, once
regulations allow,” says Greg Christopher, EVP Operations, Tilray and
High Park. “We are committed to growing our supply chain and expanding
our production footprint to supply the Canadian cannabis market with the
highest quality branded products.”

High Park looks forward to sharing more information about the research
and development of its differentiated brand portfolio and the expansion
of its production capacity in the coming months.

About High Park ™

Based in Toronto and led by a team with deep experience in cannabis and
global consumer brands, High Park was established to develop, produce,
sell, and distribute a broad-based portfolio of adult-use cannabis
brands and products. High Park is a wholly-owned subsidiary of Tilray,
Inc., a global leader in cannabis cultivation, processing, and
distribution.

Cautionary note regarding forward-looking statements:

This press release contains “forward-looking statements” within the
meaning of the U.S. Private Securities Litigation Reform Act of 1995 and
“forward-looking information” within the meaning of Canadian securities
laws, or collectively, forward-looking statements. Forward-looking
statements in this press release may be identified by the use of words
such as, “may”, “would”, “could”, “will”, “likely”, “expect”,
“anticipate”, “believe, “intend”, “plan”, “forecast”, “project”,
“estimate”, “outlook” and other similar expressions, including
statements in respect to Tilray and High Park’s cannabis products and
the future performance of any of its affiliates. Forward-looking
statements are not a guarantee of future performance and are based upon
a number of estimates and assumptions of management in light of
management’s experience and perception of trends, current conditions and
expected developments, as well as other factors that management believes
to be relevant and reasonable in the circumstances, including
assumptions in respect of current and future market conditions, the
current and future regulatory environment and future approvals and
permits. Actual results, performance or achievement could differ
materially from that expressed in, or implied by, any forward-looking
statements in this press release, and, accordingly, you should not place
undue reliance on any such forward-looking statements and they are not
guarantees of future results. Please see the heading “Risk Factors” in
Tilray’s Annual Report on Form 10-K, which was filed with the Securities
and Exchange Commission and Canadian securities regulators on March 25,
2019, assumptions, uncertainties and other factors that may cause actual
future results or anticipated events to differ materially from those
expressed or implied in any forward-looking statements. Tilray does not
undertake and specifically declines any obligation to update any
forward-looking statements that are included herein, except in
accordance with applicable securities laws.

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