TILT Holdings Receives Approval to Launch Medical Use Cannabis Operations at its Cambridge, Massachusetts Dispensary
Commonwealth Alternative Care’s Cambridge location will open its doors this summer pending final inspection by the Massachusetts Cannabis Control Commission
PHOENIX, June 09, 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 its subsidiary, Commonwealth Alternative Care, Inc. (“CAC”), has been approved by the Massachusetts Cannabis Control Commission (“CCC”) to receive a Final License at its forthcoming Cambridge dispensary, for the medical use of marijuana.
CAC’s Cambridge 5,100 square-foot dispensary, located at 1385 Cambridge Street in Inman Square, will offer a wide selection of products from our house brands including flower, concentrates, edibles and topicals, as well as TILT’s cross-business collaborations such as the Jupiter CAC Infinity vaporizer. In addition, medical patients will have increased access to products from industry-leading partner brands including AIRO, Black Buddha Cannabis, Her Highness, Highsman, Old Pal, and Toast. Once operational, store hours will be Sunday through Wednesday 9:30 a.m. until 7:30 p.m. and Thursday through Saturday 9:30 a.m. until 8:30 p.m.
“Located right in the heart of Inman Square, we could not be more excited for the opening of our third medical dispensary in Massachusetts,” said Gary Santo, CEO of TILT. “Together with our expanded cultivation and along with our co-located facilities in Brockton and Taunton, we look forward to expanding access of our unique portfolio of products across the state and continuing to serve as a resource throughout patients’ cannabis journeys. We anticipate completing final inspection and planning for a grand opening this summer.”
TILT helps cannabis businesses build brands. Through a portfolio of companies providing technology, hardware, cultivation and production, TILT services brands and cannabis retailers across 37 states in the U.S., as well as Canada, Israel, 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.
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 receipt of the Final License from the CCC pending final inspection, expected product offerings and hours of operation at CAC’s Cambridge dispensary, anticipated timing for the grand opening of CAC’s Cambridge dispensary, 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, the future operations, strengths 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 maximize shareholder value, current conditions 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, 2021, which is available on the Company’s SEDAR profile at www.sedar.com.
TILT Company Contact:
Lynn Ricci, VP of Investor Relations & Corporate Communications
TILT Holdings Inc.
Investor Relations Contact:
Sean Mansouri, CFA
Released June 9, 2022