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 that the Massachusetts Cannabis Control Commission (“CCC”) has approved TILT’s subsidiary, Commonwealth Alternative Care, Inc. (“CAC”), to commence retail operations at its forthcoming Brockton dispensary, effective September 21, 2021, for the medical use of marijuana.
CAC’s Brockton dispensary is located at 1090 W. Chestnut Street, and operating hours will be from 10 a.m. until 6 p.m., Monday through Sunday. CAC Brockton has also been granted a provisional Retail Establishment license, and anticipates adult-use operations to be fully approved and formally commence following final inspection by the CCC.
CAC Brockton will open its doors to patients on October 1 as part of a “soft opening” to allow for visits from local officials as well as hands-on budtender training and operations readiness. On Saturday, October 16, CAC Brockton will celebrate its Grand Opening with a weekend of festivities that include a ribbon cutting ceremony and cannabis brand experiential activations.
“We are excited to finally open our second dispensary in the state,” said Gary Santo, CEO of TILT. “This has been a long journey for our Massachusetts team, and with final inspections for adult-use underway at both our Brockton and Taunton locations, we look forward to adding adult-use retail to both before year end.”
TILT helps cannabis businesses build brands. Through a portfolio of companies providing technology, hardware, cultivation and production, TILT services brands and cannabis retailers across 36 states in the U.S., as well as Canada, Israel, Mexico, 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 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, anticipated timing of approval of adult use operations at CAC Brockton and Taunton, expected timing of CAC's soft-opening and grand opening, of management, prospects, opportunities, priorities, targets, goals, ongoing objectives, milestones, strategies and outlook of TILT, and includes statements about, among other things, future developments, operations, expansions 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 expand its operations 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.
For additional information regarding forward-looking statements and their related risks, please refer to the “Risk Factors and Uncertainties” section in the Annual Information Form of the Company for the year ended on December 31, 2020, which is available on the Company’s SEDAR profile at www.sedar.com.
Investor Relations Contact:
Sean Mansouri, CFA