Tilray spikes after extending the lock-up period with its largest shareholder (TLRY)

Tilray shares traded up as much as 18% Monday after the company announced a deal to extend the lock-up period with its main shareholder. 
The deal establishes that Privateer Holdings, which owns 77% of Tilray's shares outstanding, will release shares to the public over a two-year period. 
When the 180-day lock-up expired in January, shares of Tilray tanked. 
Watch Tilray trade live.
Shares of Tilray, the Canadian cannabis producer, were up as much as 18% Monday after the company a