TILT Holdings Approved to Begin Adult-Use Cannabis Retail Operations at its Brockton, Massachusetts Dispensary November 22, 2021

Rhea-AI Summary

TILT Holdings announces approval from the Massachusetts Cannabis Control Commission for its subsidiary, Commonwealth Alternative Care, to begin adult-use retail operations at the Brockton dispensary starting November 22, 2021. The Brockton location, which previously serviced medical patients, will celebrate its grand opening on December 4, 2021. This event will feature vendor pop-ups and local food trucks. TILT aims to expand cannabis access in Massachusetts, highlighting the growing demand in the greater Boston area.

Positive

• Approval for adult-use retail operations at Brockton dispensary effective November 22, 2021.
• Increased market access with the expected final license for the Taunton location by year-end.
• Celebration event to promote brand visibility and community involvement.

Negative

• None.

Commonwealth Alternative Care Brockton to host celebration of adult-use on December 4, 2021

PHOENIX, Nov. 18, 2021 (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 that the Massachusetts Cannabis Control Commission (“CCC”) approved TILT’s subsidiary, Commonwealth Alternative Care, Inc. (“CAC”), to commence adult-use retail operations at its Brockton, Mass. dispensary, effective November 22, 2021.

The Brockton location, which recently began serving medical patients in October, is CAC’s first adult-use dispensary. CAC’s Taunton location is also expected to receive its final adult-use license by the end of the year. Combined, the two dispensaries serve more than 8,000 medical patients in the greater Boston area.

The adult-use celebration will take place on Saturday, December 4, from 12 to 2pm at CAC Brockton, located at 1090 W. Chestnut Street. The event will feature a variety of brand and vendor pop-ups, DJ, live glassblower demonstrations and food from local food trucks.

“Having the privilege to serve adult-use consumers in Brockton is a milestone that was made possible through the dedicated efforts of our Massachusetts team,” said Gary Santo, CEO of TILT. “We look forward to building on our current momentum to expand cannabis access to patients and consumers throughout the state, and are excited to welcome customers at every stage of their cannabis journey to CAC Brockton.”

About TILT

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.

Forward-Looking Information

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 Taunton, 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, 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
Elevate IR
investors@tiltholdings.com

Media Contact:
Juliet Fairbrother
MATTIO Communications
Juliet@mattio.com
631.338.5343

FAQ

What is the significance of TILT Holdings' approval for adult-use operations in Massachusetts?

The approval allows TILT’s subsidiary, Commonwealth Alternative Care, to start adult-use retail sales, expanding customer access and revenue potential.

When will the adult-use retail operations begin at TILT's Brockton dispensary?

Adult-use operations at the Brockton dispensary will commence on November 22, 2021.

What is happening on December 4, 2021, at the Brockton dispensary?

A celebration event will be held at the Brockton dispensary featuring brand pop-ups, local food trucks, and entertainment.

How many medical patients does Commonwealth Alternative Care serve in the Boston area?

The combined dispensaries serve over 8,000 medical patients in the greater Boston area.

Is TILT Holdings planning to expand to more locations?

Yes, TILT expects to receive the final adult-use license for its Taunton location by the end of the year.