TILT’s Commonwealth Alternative Care to Become First Recreational Cannabis Dispensary in Taunton, Massachusetts

Rhea-AI Summary

TILT Holdings has received approval from the Massachusetts Cannabis Control Commission to begin adult-use cannabis operations at its Taunton facility starting December 20, 2021. This marks Commonwealth Alternative Care, TILT's subsidiary, as the first dispensary to serve recreational cannabis customers in Taunton. The facility includes a 100,000 square-foot cultivation and processing area and offers a variety of products from their own brands and partners. TILT aims to enhance market visibility and penetration in Massachusetts with this significant milestone.

Positive

• Approval for adult-use cannabis operations begins December 20, 2021.
• First recreational dispensary in Taunton, enhancing market presence.
• Expansion of customer base to include adult-use consumers.

Negative

• None.

Company Receives Approval to Commence Adult-Use Cannabis Operations and Retail Sales Beginning December 20, 2021

PHOENIX, Dec. 17, 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”) has approved TILT’s subsidiary, Commonwealth Alternative Care, Inc. (“CAC”), to commence adult-use cannabis operations including cultivation, manufacturing, distribution and retails sales at its Taunton facility, effective December 20, 2021.

With this approval to commence adult-use operations, CAC will be the first dispensary to open its doors to recreational cannabis customers in Taunton, Mass.

“CAC has been proudly serving medical patients in the Taunton community since 2018,” said Gary Santo, CEO of TILT. "As the first adult-use dispensary in Taunton, we can now serve the entire community with our best-in-class products and services. This milestone solidifies our position as a market leader and allows us to provide our growing portfolio of cannabis brand partners even greater customer visibility and market penetration in Massachusetts.”

Located at 30 Mozzone Boulevard, CAC’s Taunton dispensary is located adjacent to its 100,000 square-foot cultivation and processing facility. Featuring 3,000 square-feet of nature-inspired space for customers and patients, CAC offers a wide selection of products from their house brands ONE, CHROMA and SLATE including flower, concentrates, edibles and topicals. Additionally, customers and patients can find products from industry-leading partner brands including 1906, AIRO, Her Highness, Old Pal, and Wana.

CAC Taunton joins CAC Brockton in serving both adult-use customers and medical marijuana patients. An event to celebrate recreational cannabis sales is scheduled for Q1 2022.

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 commencement of adult-use cannabis sales at the Taunton location, expected timing of celebratory event, 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 receiving approval for cannabis operations?

The approval allows TILT Holdings to expand its market presence by opening the first adult-use dispensary in Taunton, Massachusetts, starting December 20, 2021.

When will TILT Holdings start retail sales for adult-use cannabis?

Retail sales for adult-use cannabis at TILT Holdings' Taunton facility will commence on December 20, 2021.

What products will be offered at TILT's Taunton dispensary?

The dispensary will offer a wide selection of cannabis products including flower, concentrates, edibles, and topicals from both TILT’s own brands and industry-leading partner brands.

Where is TILT Holdings' Taunton dispensary located?

TILT Holdings' Taunton dispensary is located at 30 Mozzone Boulevard, adjacent to its 100,000 square-foot cultivation and processing facility.

What impact does TILT's approval have on its business in Massachusetts?

The approval will enhance TILT's visibility and market penetration in Massachusetts, allowing it to serve both adult-use customers and existing medical marijuana patients.