May 14, 2019 / 9:13 PM / 7 months ago

BUZZ-Tilray: Legal weed in Canada, Manitoba acquisition boost Q1 revenue; shares rise

** Tilray Inc’s shares up 5.1% at $51.20 in extended trading

** TLRY beats quarterly revenue estimates boosted by legalization of recreational cannabis in Canada, acquisition of hemp-based food producer Manitoba Harvest and expansion in international medical markets

** Pulls up shares of other cannabis cos: U.S.-listed Hexo Corp by 3.6%, Canopy Growth 1.3%, Aurora Cannabis, which reports quarterly results later on Tuesday, 2.3%

** TLRY’s revenue nearly tripled to $23 mln, beating analysts’ estimates of $20.2 mln, according to IBES data from Refinitiv

** TLRY down 34.1% YTD

** Horizons Marijuana Life Sciences ETF up nearly 40% this year, while ETFMG Alternative Harvest ETF up 33.4% (Reporting by Uday Sampath in Bengaluru)

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