04:28 PM EDT, 06/10/2025 (MT Newswires) -- Tilray Brands ( TLRY ) said Tuesday its shareholders approved a proposed reverse stock split, which would allow the company to consolidate its shares at a ratio ranging from 1-for-10 to 1-for-20.

The company, however, added that it is pausing the implementation of the split for now and wants more time to evaluate the best timing and stock price conditions.

If carried out, the reverse stock split is expected to help Tilray meet Nasdaq's continued listing requirements, it said.

The company also said that it reduced its total debt by about $76 million in the quarter ending Feb. 28.

Tilray shares closed up $0.03 to $0.58 on the Toronto Stock Exchange.