Joint venture leverages M420’s resources to expand TILT’s processing,
logistics and supply chain capabilities to Europe
BOSTON–(BUSINESS WIRE)–
TILT
Holdings Inc. (“TILT” or the “Company”) (CSE:TILT) (OTC:SVVTF), a
vertically-integrated infrastructure and technology platform for the
cannabis industry, announced today its intended expansion into the
European market. It has signed a letter of intent with Medical 420
(“M420”), a large-scale vertical cannabis company, to provide cannabis
processing, logistical support and supply chain management to the
European Union. By leveraging M420’s North Macedonian assets and
wholesale materials, TILT intends to provide cannabis products to the
entire European continent.
“We are very focused on expanding TILT’s broad technology and
infrastructure product offerings into expanding cannabis markets like
Europe, which also has a substantial addressable market,” said Alex
Coleman, CEO of TILT. “While we continue to expect the US cannabis
market to expand the fastest as well as be the largest, we see
substantial potential within the EU. Our partnership with M420 is
further validation of TILT’s leadership in the industry and mission to
deliver effective, comprehensive cannabis solutions to the entire globe.”
Consideration for the M420 joint venture consists of US$10 million in
cash. The outside date for the closing of the deal is February 15, 2019.
This joint venture comes on the heels of TILT’s announcement to officially
begin trading on the Canadian Securities Exchange, and supports a
series of moves to accelerate TILT’s goal of providing comprehensive
operations and software solutions at each touchpoint in the supply
chain. TILT also recently announced its acquisitions
of Blackbird Holdings Corp. (“Blackbird”) and Standard Farms LLC
(“Standard Farms”).
More information about the company’s other recent acquisitions and moves
within the cannabis industry can be found here.
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, completion of the
transaction with M420, 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
receipt of all necessary consents and approval for the transaction with
M420, 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/20181213005250/en/
Joel Milton, President of TILT Holdings
Phone: 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
Phone:
(416) 644-2020 or (514) 939-3989
www.renmarkfinancial.com
Source: TILT Holdings Inc.
Released December 13, 2018