TILT Signs Exclusive Ohio Partnership with Leading Vape Brand, Timeless Refinery
Arizona’s #1 Selling Brand Will be Available in Ohio Beginning Q2 2022
PHOENIX, March 02, 2022 (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 an exclusive manufacturing and distribution partnership in Ohio with Timeless Refinery (“Timeless”), a leading cannabis lifestyle brand with operations in Arizona, Oklahoma, Missouri, and California.
Founded in 2011, Timeless is a pioneer in the cannabis vaporization sector and a leading multi-state house of lifestyle brands, ranking as both the number one selling brand in Arizona and as a Top 10 selling brand nationally (per BDSA FY 2021). The brand is known for its extensive portfolio of innovative cartridges that combine high quality distillate with botanical or live resin terpenes to suit a variety of customer preferences. Timeless has also built strong consumer engagement around its pillars of culture, community and legacy.
One of TILT subsidiary Jupiter Research, LLC’s longest-standing clients, Timeless is set to hit the Ohio market in the second quarter of this year with the initial rollout of its flagship line, Timeless, which will be followed by their NOIR and Canary cartridge brands.
“The opportunity to bring an established and innovative brand like Timeless to a new market is always an exciting prospect,” said Gary Santo, CEO of TILT. “This partnership reflects TILT’s commitment to providing end-to-end services for brand partners while enabling them to achieve their market expansion goals. We are proud to facilitate the entrance of another best-selling brand into the nascent Ohio market.”
Timeless Founder Rocky Huang added, “2022 will be a year of significant growth for Timeless and we are thrilled to partner with TILT as we expand our footprint to Ohio. We have a long history with the TILT team; their strong track record and partnership over the years has been invaluable. We look forward to further strengthening our relationship and remain opportunistic about entering additional new markets down the road.”
The cannabis market grew in 2021, reporting at least $381 million in medical marijuana sales. With adult-use legalization making headway in the state, industry data company forecasts combined sales to reach over $1.6 billion in the year 2025.
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.
Timeless was founded in 2011 with the vision of creating a leading lifestyle brand around cannabis products that are efficient, safe & discreet to use. Their passion for R&D, unique brand building, and customer engagement has led Timeless to be one of the most innovative brands in the market. Today, Timeless is a leading House of Brands with operations in Arizona, California, Oklahoma, and Missouri and is headquartered in Scottsdale, Arizona.
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 market rollout for Timeless products in Ohio, expected release of types of Timeless cartridge brands, projected sales forecasts for the Ohio cannabis market, 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
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/63c61b3d-a556-4e87-b00f-c63651b67ea1
Released March 2, 2022