Canadian cannabis company Tilray Inc. (TLRY) rose 2.7% in pre-market trading on Tuesday after the company said it agreed to acquire Natura Naturals Holdings Inc. in the form of 35 million Canadian dollars (US$26.3 million) in cash plus shares. Under the terms of the transaction, Tilray will pay $15 million in cash and $20 million in Class II common stock. If Natura achieves certain production targets over the next 12 months, Tilray will pay an additional $35 million in common stock. Natura owns a licensed cannabis grower. The deal is expected to close within the next 30 days. As of last Friday, Tilray had a cumulative decline of 37% over the past three months, the ETFMG Alternative Harvest ETF (MJ) fell 8.7%, and the S&P 500 index fell 3.1%.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

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