TILT Holdings Commences Trading on Canadian Securities Exchange Under Ticker Symbol “TILT”
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.”
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.
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.
Joel Milton, President of TILT Holdings
Source: TILT Holdings Inc.
Released December 6, 2018