TILT Holdings Announces Host Community Payment to City of Taunton for Commonwealth Alternative Care
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.”
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.
Joel Milton, SVP of Business Development
Source: TILT Holdings Inc.
Released February 22, 2019