TILT HLDGS INC - TLLTF STOCK NEWS

TILT (OTCQX: TLLTF) has launched its Timeless Vape brand in Ohio, available from select dispensaries since June 13, 2022. The partnership involves TILT's subsidiaries, Jupiter Research and Standard Farms, focusing on a range of vaporization products targeted at medical patients. The initial product offerings include three vape types: Energy, Chill, and Rest, designed for diverse consumer needs. TILT's CEO, Gary Santo, expressed pride in the rapid market activation, emphasizing the company's commitment to delivering premium cannabis products through established partnerships.

TILT Holdings Inc. has announced that its subsidiary, Commonwealth Alternative Care (CAC), has received approval for a Final License from the Massachusetts Cannabis Control Commission for its new Cambridge dispensary. This 5,100 square-foot facility will offer a variety of cannabis products and serve medical patients, enhancing access to high-quality brands. The dispensary is set to open this summer, with operational hours planned. TILT aims to expand its product portfolio across Massachusetts while contributing to medical cannabis patient needs.

TILT Holdings Inc. held its annual general and special meeting of shareholders on June 9, 2022, where all proposed resolutions were approved. The shareholders elected directors to serve until the next annual meeting, appointed Macias Gini & O’Connell LLP as auditors for the upcoming year, and authorized the Board to determine the auditors' remuneration. Additionally, amendments to the 2018 Equity Incentive Plan were approved, reflecting the Company’s commitment to corporate governance and stakeholder engagement.

TILT Holdings has announced a new partnership with Highsman, founded by former NFL star Ricky Williams, to introduce a line of cannabis products tailored for athletes. The launch will occur in Massachusetts and Pennsylvania in early September. Highsman aims to cater to sports enthusiasts with three product collections: Pregame (sativas), Halftime (hybrids), and Postgame (indicas). This collaboration marks TILT's strategic move into the sports cannabis market, enhancing its brand presence and expanding product offerings.

TILT Holdings has expanded its home delivery service for medical and adult-use cannabis in Massachusetts, effective June 1, 2022. This service now covers areas including South Boston, Cambridge, and Quincy, in addition to existing locations in south and southeast Massachusetts. Customers can place orders online with a minimum purchase of $125 for recreational users and $100 for medical patients, ensuring same-day delivery for orders placed by 2:00 p.m. The service is facilitated by Bracts & Pistils, a certified social equity cannabis delivery operator.

TILT Holdings Inc. (OTCQX: TLLTF), a global provider of cannabis business solutions, has announced its participation in several upcoming conferences. These include the Jefferies 2022 Cannabis Summit on June 2, where leadership will engage in one-on-one meetings, and the CannabisLab event on June 3, featuring CEO Gary Santo in a session titled, 'Meet the CEOS: What Does It Mean to be an MMTC CEO?'. Additionally, the company will hold virtual meetings at the Lytham Partners Summer 2022 Investor Conference on June 21-22. For more details, visit TILT's investor website.

TILT Holdings has amended its agreement to sell the White Haven facility in Pennsylvania, extending the investigational period to June 17, 2022. This extension allows additional time to complete due diligence, including environmental assessments and zoning reports, which were delayed. The White Haven facility, operational since January 2019, spans approximately 40,000 square feet and encompasses cultivation, processing, and manufacturing spaces. TILT aims to finalize this transaction by the end of the quarter.

TILT Holdings Inc. announced the launch of the Infinity vaporizer, developed in collaboration with Jupiter Research and Commonwealth Alternative Care. Available starting May 20, 2022, at CAC locations and Massachusetts dispensaries, the Infinity features 300mg of cannabis extracts and utilizes CCELL® Heat-not-Burn technology. This product offers two strain options: Cinderella 99 and LA Kush Cake. The launch follows a successful previous collaboration in Pennsylvania, aiming to expand TILT’s market presence in the cannabis sector.

TILT Holdings Inc. reported its Q1 2022 financial results, with revenue of $42.4 million, down from $46.8 million year-over-year. Gross profit declined to $9.4 million, representing a margin of 22%. The company's operating expenses increased to $10.4 million, resulting in adjusted EBITDA of $1.5 million. TILT also announced two sale leaseback transactions totaling $55 million, aimed at reducing debt by up to 50%. Despite challenges in sales volume and inflationary pressures, the company expects 2022 revenue growth of approximately 28% and continues to forge strong partnerships in the cannabis sector.