TILT Holdings Receives Approval to Launch Medical Use Cannabis Operations at its Cambridge, Massachusetts Dispensary
PHOENIX, Aug. 30, 2022 (GLOBE NEWSWIRE) — TILT Holdings Inc. (“TILT” or the “Company”) (NEO: TILT) (OTCQX: TLLTF), a global provider of cannabis business solutions that include inhalation technologies, cultivation, manufacturing, processing, brand development and retail, today announced its subsidiary, Commonwealth Alternative Care, Inc. (“CAC”), has passed its final inspection and received approval from the Massachusetts Cannabis Control Commission (“CCC”) to Commence Operations for the medical use of marijuana at its Cambridge dispensary. The doors of the Cambridge dispensary will open Friday, September 2, 2022. Store hours will be Monday through Wednesday 9:30 a.m. until 8:00 p.m. and Thursday through Sunday 9:30 a.m. until 8:30 p.m.
CAC’s Cambridge 5,100 square-foot dispensary, located at 1385 Cambridge Street in Inman Square, will offer a wide selection of products from TILT’s house brands including flower, concentrates, edibles and topicals, as well as TILT’s cross-business collaborations such as the Jupiter CAC Infinity vaporizer. In addition, medical patients will have increased access to products from industry-leading partner brands including AIRO, Black Buddha Cannabis, Her Highness, Highsman, Old Pal, and Toast.
“Located right in the heart of Inman Square, we are excited to open the doors of our third medical dispensary in Massachusetts this week, just before the holiday long weekend,” said Gary Santo, Chief Executive Officer of TILT. “Adding Cambridge to our existing retail facilities in Brockton and Taunton strengthens TILT’s position as a resource throughout patients’ cannabis journeys. With the addition of home delivery at all of our locations, we are able to expand access to our distinctive portfolio of CAC and brand-partner products to those communities and beyond and look forward to welcoming new patients. We anticipate a grand opening celebration in September during Boston Cannabis Week.”
TILT helps cannabis businesses build brands. Through a portfolio of companies providing technology, hardware, cultivation and production, TILT services brands and cannabis retailers across 37 states in the U.S., as well as Canada, Israel, South America and the European Union. TILT’s core businesses include Jupiter Research LLC, a wholly-owned subsidiary and leader in the vaporization segment focused on hardware design, research, development and manufacturing; and cannabis operations, Commonwealth Alternative Care, Inc. in Massachusetts, Standard Farms LLC in Pennsylvania, Standard Farms Ohio, LLC in Ohio, and its partnership with the Shinnecock Indian Nation in New York. TILT is headquartered in Phoenix, Arizona. For more information, visit www.tiltholdings.com.
This news release contains forward-looking information under applicable Canadian and U.S. securities laws which are 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, expected product offerings and hours of operation at CAC’s Cambridge dispensary, anticipated timing for the grand opening of CAC’s Cambridge dispensary, the opinions or beliefs of management, 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 TILT. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. 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, the ability of TILT to maximize shareholder value, current conditions and expected future developments, as well as other factors that are believed to be reasonable in the circumstances.
Although such statements are based on management’s reasonable assumptions at the date such statements are made, there can be no assurance that it will 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 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. Such risk factors include, but are not limited to, those described under the heading “Risk Factors” in Amendment No. 2 to the Form 10 Registration Statement filed by TILT with the United States Securities and Exchange Commission and on SEDAR at www.sedar.com.
TILT Company Contact:
Lynn Ricci, VP of Investor Relations & Corporate Communications
TILT Holdings Inc.
Investor Relations Contact:
Sean Mansouri, CFA