Summary by Moomoo AI
On April 30, 2024, Tilray Brands, Inc., a Delaware-based corporation, announced the completion of a significant transaction with Double Diamond Holdings Ltd. (DDH), an Ontario corporation. The agreement involved Tilray acquiring a promissory note from DDH valued at USD$10,883,496, which is payable by 1974568 Ontario Limited, also known as Aphria Diamond. Aphria Diamond is a joint venture between DDH and Aphria Inc., which is a direct and wholly-owned subsidiary of Tilray. In exchange for the promissory note, Tilray issued 6,148,868 shares of its common stock to DDH. The shares were issued under Regulation S of the Securities Act of 1933, which allows for the sale of securities outside the United States without registration. This transaction did not involve any underwriters or the payment of commissions.