CAMBRIDGE, Mass.–(BUSINESS WIRE)–
TILT
Holdings Inc. (“TILT” or the “Company”) (CSE: TILT) (OTC: SVVTF),
today announced that Commonwealth
Alternative Care (CAC), the Company’s cultivation, processing and
dispensing facility in Taunton, Mass., has made its initial annual Host
Community Payment of $125,000 to the city of Taunton under its Host
Community Agreement. CAC presented the check to Taunton Mayor Tom Hoye
and other city representatives on February 15, 2019. TILT’s payments to
the city of Taunton will increase as CAC expands its local operations.
CAC opened its medical marijuana dispensary in Taunton on August 6, 2018
and operates a 133,000-square-foot cultivation and processing facility
on site, providing patient-centered, alternative care to the people of
the Commonwealth of Massachusetts. TILT will utilize a majority of CAC’s
manufacturing capacity to co-produce customized products for other
in-state operators. TILT and CAC have also signed a Host Community
Agreement with the city of Taunton for adult-use cannabis sales and are
currently pursuing an adult-use license through the Commonwealth’s
application process.
“Commonwealth Alternative Care is a welcome addition to Taunton and its
residents,” said Taunton Mayor Tom Hoye. “CAC is bringing new,
well-paying jobs to the area, as well as high-quality products to the
citizens of Massachusetts. We appreciate this initial Host Community
Payment to further support Taunton’s essential city services, and we
look forward to our continued positive relationship.”
“We are delighted to serve the people of Massachusetts and are very
pleased with our productive relationship with Mayor Hoye and the city of
Taunton,” said Alex Coleman, Chairman and CEO of TILT. “We are committed
to supporting the local communities in which we operate and are excited
about our ongoing partnership as we expand our operations in Taunton and
throughout the Commonwealth.”
About TILT
TILT Holdings is business-to-business cannabis company focused on the
research, development, manufacture, distribution and sale of products
and services. The Company maintains two primary divisions, Technology
for software and services and Infrastructure for cannabis products and
devices. Revenue is realized from cannabis cultivation, the sale of
flower, concentrates, oils, consumables and topicals, vaporizer and
inhalation devices, delivery and inventory management services and
licensed software. 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. The
Company has operations in 40 U.S. states and Canada and Europe. For more
information, please visit www.tiltholdings.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190222005404/en/
Contact Information:
Joel Milton, SVP of Business Development
(303)
872-7255
Media Contact:
Tim Streeb
ICR
Phone: 646-277-1200
tiltholdings@icrinc.com
Investor Contact:
Scott Van Winkle
ICR
Phone:
617-956-6736
investors@tiltholdings.com
Investors.tiltholdings.com
Source: TILT Holdings Inc.
Released February 22, 2019