CAMBRIDGE, Mass.–(BUSINESS WIRE)–
TILT Holdings Inc. (“TILT” or the “Company”) (CSE:TILT) (OTCQB:SVVTF), a
leading provider of products and services to businesses operating in the
cannabis industry, today announces changes to its board of directors
(the “Board”), including the resignations of Michael Orr and Todd
Halpern and the pending appointments of Robert Calhoun and Mark
Scatterday, subject to the approval of the Board on April 17, 2019 and
the approval of the Canadian Securities Exchange (“CSE”).
Robert Calhoun has more than 50 years of experience in private equity
and investment banking, including public and private company board
positions across a range of industries throughout his career. A graduate
of Princeton, Mr. Calhoun began his capital markets career in the
Investment Banking group at First Boston Corp. before transitioning to
his private equity career with Monitor Clipper Partners, the firm he
co-founded.
Mark Scatterday is the Founder of Jupiter Research, now a wholly owned
subsidiary of TILT, where he now serves as Senior Vice President of all
Consumer Packaged Goods & Devices. Mark Scatterday is a lifelong
entrepreneur with dozens of patents held. Mark’s early success was when
he founded Proinnovative, a sporting goods and promotional products
company that was started with his first invention – The Gripp. This led
Mark to begin designing and manufacturing a wide range of products in
China. Leveraging his unique expertise in product development,
industrial design, value engineering, consumer marketing, and brand
positioning, Mark was instrumental in the success of many startups
including Njoy, an early leader of inhalation vaporization technology
where he served as Senior Vice President of Manufacturing and Product
Development. Inventing the first disposable electronic cigarette, Mark
and Njoy were awarded several industry product design and packaging
awards.
“Bob and Mark each bring a wealth of experience and leadership to our
board,” said Alex Coleman, CEO of TILT. “Bob Calhoun has been
successfully investing and building businesses for decades which, along
with his prior board experience, will be invaluable as we continue to
build and grow TILT. Mark Scatterday has already proven to be a key
partner, having joined our leadership team in January. His pioneering
developments in vaporization have built an industry leading business and
we see our continued innovation and development of devices as a vital
piece of the TILT business model. We also want to thank Michael Orr and
Todd Halpern for their contributions to the board of TILT, as well as
their participation in a very extensive and intensive process to merge
multiple companies that served as the foundation for our Company. Both
have been valued sources of strategic advice, organizational development
and leadership and assistance with the listing of TILT shares on the
CSE.”
About TILT
TILT is a leading provider of products and services to businesses
operating in the cannabis industry. The Company offers the contract
manufacturing of marijuana in a variety of form factors, vaporizer and
inhalation devices, business and consumer delivery services and a broad
suite of software products for over 1,500 retailers and brands
throughout the United States (“U.S.”), Canada and Europe. The majority
of TILT’s products are customized to client specifications and branding,
all enabling them to operate their businesses more efficiently and
connect with their customers more effectively. The Company is organized
in two main business units, Software & Services and Consumer Devices &
Packaged Goods, designed to augment competencies across the organization
in research, manufacturing, packaging and technology to deliver
end-to-end services and customer solutions. All of TILT’s products are
supported by an extensive research process led by scientists and
engineers, using data analytics and discovery to produce new products
helping shape the industry. Headquartered in Cambridge, MA, with offices
throughout the U.S., Toronto and London, TILT has over 500 employees and
has sales in 40 U.S. states, Canada and Europe. For more information,
please visit www.tiltholdings.com.
Forward-Looking Information
This 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 receipt of regulatory and Board approval for pending
appointments to the Board, the opinions or beliefs of management,
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 TILT. Generally, forward looking
information can be identified by the use of forward looking terminology
such as “plans”, “expects” or “does not expect”, “is expected”,
“budget”, “scheduled”, “estimates”, “forecasts”, “intends”,
“anticipates” or “does not anticipate”, or “believes”, or variations of
such words and phrases or state that certain actions, events or results
“may”, “could”, “would”, “might” or “will be taken”, “occur” or “be
achieved”. 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.
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
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.
The CSE has neither approved nor disapproved the contents of this
news release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190405005042/en/
Joel Milton
SVP of Business Development
Phone: (303) 872-7255
Investors:
Scott Van Winkle
ICR
Phone: 617-956-6736
investors@tiltholdings.com
Media:
Cory Ziskind
ICR
Phone: 646-277-1232
tiltholdings@icrinc.com
Source: TILT Holdings Inc.
Released April 5, 2019