Brendan Kennedy, third from right in front, CEO and founder of Canadian marijuana grower Tilray Inc., leads cheers as confetti falls to celebrate his company’s initial public offering on the Nasdaq in New York on July 19, 2018.
There was some understatement in Tilray Inc.’s prospectus for its initial public offering earlier this month, after which the Nanaimo, British Columbia-based medical cannabis company’s stock market valuation topped $1 billion.
“The medical cannabis industry and market are relatively new in Canada, and this industry and market may not continue to exist or develop as anticipated or we may ultimately be unable to succeed in this industry and market,” stated Tilray in its prospectus.
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