TILT Holdings Inc. Statement on CDA Lawsuit
PHOENIX, Jan. 24, 2021 (GLOBE NEWSWIRE) -- TILT Holdings Inc. (“TILT” or the “Company”) (CSE: TILT) (OTCQX: TLLTF) President Gary Santo provided the following statement regarding the recent actions taken by the Commonwealth Dispensary Association (“CDA”) in Massachusetts.
Statement from TILT Holdings President Gary Santo:
Earlier this month, the Commonwealth Dispensary Association (“CDA”) filed a lawsuit against the Cannabis Control Commission related to new delivery regulations that would benefit social equity and economic empowerment operators. Commonwealth Alternative Care (“CAC”), a wholly owned subsidiary of TILT Holdings Inc. (“TILT”) and a member of the CDA, has been clear in expressing its concerns regarding the possibility of filing such a suit and is extremely disappointed in the CDA’s decision to pursue litigation.
TILT firmly believes that social equity operators can and must be a vital part of the cannabis ecosystem and while there is always room for improvement with newly drafted regulations, we do not think that engaging in litigation achieves any such improvement.
Earlier today, we spoke with leadership at the CDA and requested that they drop the lawsuit and instead reengage with the various stakeholders to identify and address the consequences associated with the current draft, as all parties will ultimately benefit from such an open dialogue.
We also feel strongly that the best way to resolve an issue is to force change from within, so while we respect our fellow members’ decision to resign from the CDA, at present we plan to do what we can to influence the CDA board to reverse its decision to litigate and instead use its platform as an agent of change and equality in the Massachusetts cannabis market. That said, should our efforts prove unsuccessful, we reserve the right to resign from the organization as we seek to partner with and support our social equity colleagues and choose not to associate with organizations or entities that do not share in that belief.
About TILT Holdings Inc.
TILT helps cannabis businesses build brands. Through a portfolio of companies providing technology, hardware, cultivation and production, TILT services brands and cannabis retailers across 35 states in the U.S., as well as Canada, Israel, Mexico, South America and the European Union. TILT’s core businesses include Jupiter, 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 and Standard Farms, LLC in Pennsylvania. TILT is headquartered in Phoenix, Arizona. For more information, visit www.tiltholdings.com.
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Released January 24, 2021