TILT increases capabilities and offerings to cannabis businesses and
consumers through new acquisition and expansions
BOSTON–(BUSINESS WIRE)–Today, TILT
Holdings Inc., the dynamic infrastructure and technology platform
for the cannabis industry, announced several company updates prior to
its listing day on the Canadian Securities Exchange. These include the
acquisition of Pennsylvania cannabis grower Standard Farms LLC
(“Standard Farms”); a major facility expansion in Massachusetts; and
additional “Letters of Intent” across Arizona, Colorado, Maryland,
Nevada, Ohio, and Europe.
“Our goal is to make TILT’s technology and infrastructure platform the
best to support the rapid growth of the cannabis industry and advance
towards the completion of our company vision,” said Alex Coleman, CEO of
TILT. “We’re excited to welcome Standard Farms in the TILT family and to
expand our capabilities to support the growing demand in Massachusetts
with the expansion in Taunton.”
TILT company updates that continue to enhance unique business model:
- Cultivation Expansion in Pennsylvania with Standard Farms
AcquisitionTILT completes definitive agreement with Standard
Farms, a multi-state medical cannabis operator focused on greenhouse
cultivation and Co2 extraction. Standard Farms is in over 95% of the
state’s dispensaries and has shipped over 200,000 units of product.
With over 18,000 square feet of canopy and a planned extension of
16,000 square feet, it will have one of the largest canopies in the
state of Pennsylvania.
- Vertical-Integration Expansion in Massachusetts to Support
Adult-Use DemandThe Taunton City Council has approved a
significant expansion of a cultivation and retail site operated by one
of TILT’s subsidiaries, Commonwealth Alternative Care (“CAC”). The
116,000 square foot facility will have 60,000 square feet of flower
canopy, producing approximately 30,000 pounds of flower on an annual
basis. The location will be one of the largest cultivation centers for
cannabis in Massachusetts. It will feature state-of-the-art
cultivation technology combining genetics and engineering while
lowering TILT’s carbon footprint by more than 60 percent via a
proprietary design.
- Vertical-Integration Expansion Across Emerging and Top Performing
RegionsTILT has a significant pipeline of opportunities with
several license holders across Arizona, Colorado, Maryland, Nevada,
Ohio, and Europe. With capabilities spanning across cultivation,
processing, distribution, retail and delivery, TILT plans to expand
its best-in-class products and services to support these regions.
As one of the cannabis industry’s most holistic platforms, TILT provides
technology-driven products and services across every stage of the
cannabis supply chain. The company will officially be listed on the
Canadian Securities Exchange as “TILT” on Wednesday, December 5.
About TILTTILT Holdings Inc. is a vertically-integrated
technology and infrastructure platform delivering the most comprehensive
range of products and services across the cannabis industry. TILT
strives to deliver the highest quality products and services through
knowledge-based technology systems for both businesses and consumers.
TILT technologies has a presence in more than 1,000 dispensaries across
the U.S., Canada, Puerto Rico and Jamaica. For more information, please
visit www.tiltholdings.com.
The CSE has neither approved nor disapproved the contents of this
news release.
This news release does not constitute an offer to sell or a
solicitation of an offer to sell any of the securities in the United
States. The securities have not been and will not be registered under
the United States Securities Act of 1933, as amended (the “U.S.
Securities Act”) or any state securities laws and may not be offered or
sold within the United States or to U.S. Persons unless registered under
the U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available.
Forward-Looking InformationThis news release
contains forward-looking information based on current expectations.
Forward-looking information is provided for the purpose of presenting
information about management’s current expectations and plans relating
to the future and readers are cautioned that such statements may not be
appropriate for other purposes. Forward looking information may include,
without limitation, statements regarding the operations, business,
financial condition, expected financial results, performance, prospects,
opportunities, priorities, targets, goals, ongoing objectives,
milestones, strategies and outlook of TILT, and includes statements
about, among other things, future developments, the future operations,
strengths and strategy of the Company. These statements should not be
read as guarantees of future performance or results. These statements
are based upon certain material factors, assumptions and analyses that
were applied in drawing a conclusion or making a forecast or projection,
including TILT’s experience and perceptions of historical trends,
current conditions and expected future developments, as well as other
factors that are believed to be reasonable in the circumstances.
Examples of the assumptions underlying the forward-looking statements
contained herein include, but are not limited to those related to: the
ability of TILT to obtain necessary financing in the future to pursue
its business plans, the achievement of goals, the obtaining of all
necessary permits and governmental approvals, as well as expectations
regarding availability of equipment, skilled labour and services needed
for cannabis operations, intellectual property rights, development,
operating or regulatory risks, trends and developments in the cannabis
industry, business strategy and outlook, expansion and growth of
business and operations, the timing and amount of capital expenditures;
future exchange rates; the impact of increasing competition; conditions
in general economic and financial markets; access to capital; future
operating costs; government regulations, including future legislative
and regulatory developments involving medical and recreational marijuana
and the timing thereto; receipt of appropriate and necessary licenses in
a timely manner; the effects of regulation by governmental agencies; the
anticipated changes to laws regarding the recreational use of cannabis;
the demand for cannabis products and corresponding forecasted increase
in revenues; and the size of the medical marijuana market and the
recreational marijuana market.
Although such statements are based on management’s reasonable
assumptions at the date such statements are made, there can be no
assurance that they it be completed on the terms described above and
that such forward-looking information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such forward-looking information. Accordingly, readers
should not place undue reliance on the forward-looking information. TILT
Holdings assumes no responsibility to update or revise forward-looking
information to reflect new events or circumstances unless required by
applicable law.
By its nature, forward-looking information is subject to risks and
uncertainties, and there are a variety of material factors, many of
which are beyond the control of TILT, and that may cause actual outcomes
to differ materially from those discussed in the forward-looking
statements. These factors include, but are not limited to: denial or
delayed receipt of all necessary consents and approvals; need for
additional capital expenditures; increased costs and timing of
operations; unexpected costs associated with environmental liabilities;
requirements for additional capital; reduced future prices of cannabis;
failure of plant, equipment or processes to operate as anticipated;
accidents, labour disputes and other risks of the cannabis industry;
delays in obtaining governmental approvals, permits or financing or in
the completion of development or construction activities; title
disputes; claims limitations on insurance coverage; risks related to the
integration of acquisitions; fluctuations in the spot and forward price
of certain commodities (such as diesel fuel and electricity); changes in
national and local government legislation, taxation, controls,
regulations and political or economic developments in the countries
where the Company may carry on business in the future; liabilities
inherent in cannabis operations; risks relating to medical and
recreational cannabis; cultivation, extraction and distribution
problems; competition for, among other things, capital, licences and
skilled personnel; risks relating to the timing of legalization
of recreational cannabis; changes in laws relating to the cannabis
industry; and management’s success in anticipating and managing
the foregoing factors.
Contacts
Media Contact:InkHouseAnne Baker, 415-299-6371[email protected]orInvestor
Contact:ICRScott Van Winkle, 617-956-6736[email protected]orRenmark
Financial Communications Inc.Melanie Barbeau: [email protected]416-644-2020
or 514-939-3989www.renmarkfinancial.com
