On the heels of announcing major company updates, TILT is now trading
as merged company
TORONTO–(BUSINESS WIRE)–
Today, TILT Holdings Inc. (“TILT” or the “Company”) (CSE:TILT), a
vertically-integrated infrastructure and technology cannabis company,
officially began trading on the Canadian Securities Exchange. TILT is
one of the cannabis industry’s most comprehensive platforms and is
organized around its two primary business lines; technology and
infrastructure. In recent news, the Company announced major
updates to increase capabilities and offerings through new
acquisitions and expansions. These included the acquisitions of a
leading cannabis distribution company Blackbird Holdings Corp.
(“Blackbird”) and Pennsylvania cannabis grower Standard Farms LLC
(“Standard Farms”); and a major facility expansion in Massachusetts.
While domestic and international cannabis laws are expanding at a
dramatic rate, there are numerous challenges facing the industry,
ranging from optimal product functionality to compliance with
complicated state-centric regulatory frameworks and basic operations.
TILT delivers a broad range of value-added products, including market
enabling software and services, consumer packaged goods and capital and
operating knowledge, all designed to facilitate the connection of over
1,000 dispensary customers with more than 2 million unique consumers.
The Company helps dispensary owners better serve their patients and
customers by providing them the tools to communicate, operate, and scale
with a greater degree of efficiency. TILT also provides comprehensive
operations and software solutions at each touchpoint in the supply
chain, from vertically-integrated operations to cutting-edge genetics
and business technology solutions.
“Our value proposition in the cannabis market is completely unique and
that has led to a lot of enthusiasm in the broader market,” said
Alexander Coleman, co-Chairman and CEO of TILT. “Many industry
participants right now are singularly focused on acquiring, opening and
operating retail stores. This has an inherent limitation as it can only
reach a finite number of consumers. The cannabis market is already
evolving to reflect other, more traditional industries, so it is really
about reaching the consumer based on their purchasing preferences,
whether at a store, at home or on-premise. With our technology
foundation and B2B focus, providing software, services and a broad range
of highly engineered consumer products, we enable store operators to
meet consumer preferences regardless of how they evolve.”
The listing follows a successful business combination of four top
cannabis companies in the U.S. and Canada: Baker Technologies, Inc.,
Briteside Holdings, LLC, Sea Hunter Therapeutics, LLC and Santé Veritas
Holdings Inc. With the completion of the business combination
announcement and the recent capital raise closing of $119M USD, TILT
represents the formation of one of the cannabis industry’s most
comprehensive platforms providing technology-driven solutions throughout
the entire cannabis ecosystem.
“Our listing on the CSE will give TILT greater access to capital so we
can continue to accelerate our growth and deliver the highest quality
products and services to cannabis businesses where laws permit,“ said
Coleman. “It will also provide the opportunity for global investors to
invest in a different cannabis business model that looks at the cannabis
industry more holistically and is not exclusively about retail or
infrastructure.”
About TILT
TILT Holdings Inc. is a vertically-integrated technology and
infrastructure platform delivering one of 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
Concurrent with the public listing, the Company will launch its new
investor relations website at investors.tiltholdings.com.
A listing statement describing TILT Holdings Inc. and prepared in
accordance with the policies of the CSE available on SEDAR at www.sedar.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 the Company, 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/20181206005275/en/
Contact Information:
Joel Milton, President of TILT Holdings
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 December 6, 2018