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, manufacture and sale of a broad range of products for the
cannabis industry, today announced the appointment of Gary Smith to the
Board of Directors. Mr. Smith joins TILT with 30 years of experience in
consumer packaged goods, and will be focused on contributing to similar
efforts at the Company.
Gary joins the Company with a distinguished background in contributing
to the development of companies experiencing rapid growth. Prior to his
appointment to TILT’s Board, Mr. Smith held senior management positions
at PepsiCo, Red Bull and Big Red, Inc. During his most recent position
as CEO of Big Red, Inc., he built a diversified beverage company by
acquiring numerous, complementary brands across many segments of the
market over a 10-year period, ultimately selling the business to Keurig
Dr Pepper. Prior to this, he served as the Chief Operating Officer and
Executive Vice President of sales and distribution for Red Bull North
America. These experiences will lend itself well to TILT, as it
participates in the rapidly growing cannabis industry. Mr. Smith’s
appointment, ratified by Board of Directors but subject to approval of
the Canadian Securities Stock Exchange, continues TILT’s inclusion of
accomplished senior managers to oversee its rapidly expanding portfolio
of products and services for the cannabis industry.
“We feel very fortunate to have Gary join the Board of Directors of
TILT. He will be the strategic advisor we look to as we expand in more
markets, partner with additional industry leaders and continue growing.
Our Company is very focused on the consumer, and is perfectly aligned
with Gary’s accomplished background of product development and supply
chain management. We expect him to be an active Director, contributing
both time and value to TILT’s expansion plans,” said Alex Coleman, Chief
Executive Officer of TILT Holdings.
About TILT
TILT Holdings Inc. (“TILT”) is a vertically-integrated technology and
infrastructure company that provides the most comprehensive range of
products and services in the cannabis industry. TILT uses its
technology, brands and industry expertise to deliver high quality
products and solutions to cultivators, wholesalers, retailers and
consumers in every segment of the industry. TILT technologies have a
presence in more than 1,000 dispensaries across the U.S., Canada, Puerto
Rico and Jamaica. TILT has more than two dozen of its own cultivation,
extraction, manufacturing and retail locations in nine states and
Canada. TILT is rapidly expanding into new markets. 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 Canadian Securities Exchange 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/20190110005179/en/
Contact Information:
Joel Milton, SVP of Business &
Corporate Development
Phone: 561-282-6377
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 10, 2019