Tilray Brands, Inc. has announced a series of corporate actions and proposals to be voted on at their upcoming Annual Meeting of Stockholders scheduled for November 21, 2024. The company seeks to increase its authorized shares of capital stock from 1,208,000,000 to 1,426,000,000, with the additional shares being common stock. This move aims to provide Tilray with greater flexibility for potential corporate activities such as strategic investments, partnerships, and equity-based financing. Additionally, the Board has proposed amendments to the company's charter to declassify the Board of Directors, allowing for the annual election of all directors, enhancing corporate governance and aligning with best practices. The Board also intends to eliminate the provision that currently allows stockholders to remove directors only for cause. These...Show More

Tilray Brands, Inc. has announced a series of corporate actions and proposals to be voted on at their upcoming Annual Meeting of Stockholders scheduled for November 21, 2024. The company seeks to increase its authorized shares of capital stock from 1,208,000,000 to 1,426,000,000, with the additional shares being common stock. This move aims to provide Tilray with greater flexibility for potential corporate activities such as strategic investments, partnerships, and equity-based financing. Additionally, the Board has proposed amendments to the company's charter to declassify the Board of Directors, allowing for the annual election of all directors, enhancing corporate governance and aligning with best practices. The Board also intends to eliminate the provision that currently allows stockholders to remove directors only for cause. These proposals, if approved, will be effective upon filing with the Secretary of State of the State of Delaware. The Board has unanimously recommended stockholders vote in favor of these changes. The meeting will also include the ratification of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the fiscal year ending May 31, 2025.