Last week, the second-largest Canadian cannabis company by market value after Canopy Growth ( WEED.TO )( CGC ) offered details about its expansion plans as it reported quarterly results. Chief executive officer Irwin Simon said Tilray is exploring acquisitions in the U.S. packaged foods and alcohol sectors, as well as "investments in MSOs (multi-state operators) that would strategically align with Tilray." "In regards to the U.S. market, what we're looking for is to be able to have a billion to a billion-and-a-half dollars in sales," he told analysts, while outlining his 2024 goals on a post-earnings conference call on July 28. Simon said these investments would need to give Tilray the option of acquiring 100 per cent of the company upon U.S. federal cannabis legalization.