Tilt Hldgs Inc - TLLTF STOCK NEWS

TILT Holdings has signed an Asset Purchase Agreement to divest two Massachusetts dispensaries for $2 million in cash. The company will transfer ownership of its Taunton dispensary to In Good Health and close its Brockton location. This move aligns with TILT's strategy to explore alternatives for its plant-touching business and focus on its Jupiter Research vape hardware division.

The transaction, expected to close in first half 2025, represents the first step in TILT's execution of strategic transactions aimed at optimizing its balance sheet and operating expenses. The company continues to review strategic alternatives for its remaining operations in Massachusetts, Pennsylvania, and Ohio, while maintaining one location in Cambridge under review.

In Good Health will integrate the Taunton location into its existing network, creating a strategic triangle with their Brockton and Sandwich locations. Highgate Capital Partners is serving as broker for this transaction.

TILT Holdings reported Q3 2024 financial results and announced a strategic review of its plant-touching business. Revenue decreased to $27.0 million from $44.6 million year-over-year, primarily due to delays in Jupiter hardware business shipping and customer transition to commission structure. Gross profit fell to $3.8 million (14% margin) from $8.0 million (18% margin). Net loss widened to $12.6 million from $8.7 million. The company is evaluating strategic alternatives including potential divestitures and partnerships to focus on inhalation technology opportunities and strengthen its balance sheet.

TILT Holdings (OTCQB: TLLTF) has scheduled its Third Quarter 2024 earnings conference call for November 14, 2024, at 5:00 p.m. ET. The company, which provides cannabis business solutions including inhalation technologies, cultivation, manufacturing, processing, brand development and retail, will release its financial results for the quarter ended September 30, 2024, prior to the call. Management will host the call followed by a Q&A session. The call will be accessible via toll-free and international dial-in numbers, with a webcast replay available in the investor relations section of TILT's website.

TILT Holdings (Cboe CA: TILT) (OTCQB: TLLTF), a global provider of cannabis business solutions, announced a significant leadership change on October 18, 2024. Chris Kelly, who had been serving as the company's Chief Revenue Officer (CRO) since December 2022, has departed from his position, effective immediately.

Tim Conder, CEO of TILT Holdings, stated that the company is continuing to transform and refocus, leading to this change in leadership. Conder expressed gratitude for Kelly's contributions to TILT, as well as his leadership and mentorship to his team, and wished him well in his future endeavors.

Commonwealth Alternative Care (CAC), a subsidiary of TILT Holdings Inc. (NEO: TILT) (OTCQB: TLLTF), has announced several Fall events and community engagement activities in Massachusetts. These include:

1. CAC Thanksgiving Food Drive (Oct 14 - Nov 15) in partnership with Veterans Association of Bristol County.

2. Fall Sweepstakes (Oct 14 - Nov 15) with prizes including Jupiter vaporizers and Old Pal kits.

3. In-store Halloween events: Hallowed Hash Bash in Taunton (Oct 19) and Boo Bash in Brockton (Oct 25).

4. Participation in Hexpo event (Oct 26) in Seekonk, MA.

5. Involvement in the Annual Harvest Cup (Nov 9-10) at DCU Center in Worcester, MA.

These events aim to engage with patients and consumers, give back to the community, and celebrate the harvest season.

TILT Holdings Inc. (NEO: TILT) (OTCQX: TLLTF), a global provider of cannabis business solutions, has announced changes to its Board of Directors. Adam Draizin has stepped down from the Board effective October 1, while Marshall P. Horowitz has been appointed effective October 2. Horowitz, who previously served as TILT's first General Counsel, brings decades of global legal and transactional experience to the position, representing noteholders of TILT Holdings.

CEO Tim Conder expressed gratitude for Draizin's contributions and welcomed Horowitz's return, stating that his breadth of knowledge will complement the Board as they navigate the company's challenges. Horowitz has nearly 30 years of experience in corporate legal and transactional work at national and international law firms, having practiced in New York, Los Angeles, Hong Kong, and Singapore.

TILT Holdings Inc. (Cboe: TILT) (OTCQB: TLLTF) reported its Q2 2024 financial results. Key highlights include:

- Revenue of $26.6 million, down from $41.6 million in Q2 2023
- Gross profit of $4.3 million with a 16.0% gross margin
- Net loss of $35.9 million, compared to $26.9 million loss in Q2 2023
- Adjusted EBITDA of $(1.2) million, down from $1.5 million in Q2 2023
- Cash provided by operating activities: $1.4 million

The company is transitioning its Jupiter hardware business to an asset-light, just-in-time supply model. TILT remains optimistic about growth opportunities, particularly in Ohio's newly launched adult-use program.

TILT Holdings Inc. (NEO: TILT) (OTCQB: TLLTF) has launched Flower by Edie Parker products in Pennsylvania through its subsidiary Standard Farms, The partnership introduces cannabis flower and vape products to medical cannabis patients across the state. Edie Parker, a leading female-founded lifestyle brand, is expanding its product line with custom strain vapes in flavors like Morning Bloom, Lemon Cowgirl, and Pink Mirage, available in 1g cartridges and 0.5g all-in-one devices. The flower line includes hybrid, indica, and sativa strains in 1/8 ounce jars. TILT's CEO, Tim Conder, noted impressive initial sell-through, while Edie Parker's founder, Brett Heyman, expressed confidence in the partnership's potential impact on Pennsylvania's cannabis industry.

TILT Holdings Inc. (Cboe: TILT) (OTCQB: TLLTF), a global provider of cannabis business solutions, has announced its upcoming second quarter 2024 conference call scheduled for August 9, 2024, at 8:30 a.m. Eastern Time. The call will discuss the company's business strategy and financial results for the quarter ended June 30, 2024. TILT management will host the call, followed by a question-and-answer session. The company's results will be reported in a press release prior to the call. Interested parties can join via phone or webcast, with replay available in the investor relations section of TILT's website.