Helping support license holders across the country, TILT offers
financial and operational assistance to promote industry inclusivity
amongst minorities, veterans and more
CAMBRIDGE, Mass.–(BUSINESS WIRE)–
TILT
Holdings Inc. (“TILT” or the “Company”) (CSE: TILT) (OTC: SVVTF), a
global technology and infrastructure company engaged in research,
development, manufacturing and sale of a broad range of products for the
cannabis industry, announced today the official launch of its Cannabis
Inclusion Program (“Program”) empowering and supporting license holders
in legalized cannabis markets. This program is designed to help support
those individuals that have been disproportionately punished by cannabis
laws in the past, including the Controlled Substances Act.
Helping communities move beyond socially-constructed barriers and
historical stigmas, the TILT Cannabis Inclusion Program supports
cannabis license holders, regardless of age, culture, ethnicity, gender
identity, sexual orientation, physical ability, race, religion, size, or
socioeconomic status. The Program provides various levels of support
across the needs of the business including application development,
cultivation infrastructure, software and services, talent management,
and capital investment.
“We know it can be challenging to secure the capital, infrastructure,
product, technology, and talent to effectively scale in the cannabis
industry,” said Alex Coleman, Chief Executive Officer of TILT Holdings.
“Our goal is to remove those barriers to entry, and help these
individuals navigate the complex cannabis regulations by providing them
the support to successfully get up and running in half the time at a
fraction of the cost.”
TILT has been running a test program in its home state of Massachusetts,
where several original not-for-profit license holders contracted with
TILT. With the state’s expansion of cannabis laws now including adult
use, licenses can be retail only, and the expansion of TILT’s Cannabis
Inclusion Program has already generated over 25 additional applicants
from Massachusetts and additional states over the past several months.
One of the approved program applicants is Seun Adedeji, a 24-year-old
Nigerian immigrant who is the youngest African-American dispensary owner
in Massachusetts. Adedeji came to the United States on a wrestling
scholarship and opened up his first dispensary, Elev8 Cannabis, in
Oregon at the age of 23. Since then, Adedeji’s dispensary has been
focused on changing the narrative of the cannabis industry by embracing
his company’s mission statement of “treating everyone like gold.”
“TILT is the only institution I’ve encountered that is eager to lend
capital to minorities. TILT provides a solution for under-capitalized
license holders to become successful business owners well beyond the
money they extend,” said Adedeji. “Through the implementation of
technology, tools, and resources, guided by people with great track
records, TILT provides a roadmap for success that otherwise wouldn’t be
available.”
Another member of TILT’s Program is Tito Jackson, former Boston City
Council member, mayoral candidate and owner of Verdant Medical. In
addition to participating in TILT’s Cannabis Inclusion Program, Jackson
is also helping TILT identify other applicants across MA who can benefit
from the Program.
“It’s important that the cannabis ownership landscape is a reflection of
the state’s diverse population, and it’s great that TILT is deliberate
in their inclusion efforts to ensure that groups that have historically
been excluded are proactively included in ownership and operation,”
Jackson said. “I am excited for Verdant to participate in the Program
and I am looking forward to working with TILT to identify others who can
benefit from this opportunity to be set up and supported for success.”
Any license holder or applicant interested in learning more about TILT’s
Cannabis Inclusion Program reach out to CIP@TiltHoldings.com.
About TILT
TILT 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 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 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190108005588/en/
Contact Information:
Joel Milton, SVP Business and Corporate
Development
(303) 872-7255
Media Contact:
Anne Baker
InkHouse
Phone:
415-299-6371
press@tiltholdings.com
Investor Contact:
Scott Van Winkle
ICR
Phone:
617-956-6736
investors@tiltholdings.com
Investors.tiltholdings.com
Renmark Financial Communications Inc.
Melanie Barbeau: mbarbeau@renmarkfinancial.com
Tel:
(416) 644-2020 or (514) 939-3989
www.renmarkfinancial.com
Source: TILT Holdings Inc.
Released January 8, 2019