TILT Holdings Enters into Exclusive Manufacture and Distribution Agreement with Curaleaf International
TILT subsidiary Jupiter Research to develop and supply custom pod vaporizer for Curaleaf International
PHOENIX, Nov. 09, 2022 (GLOBE NEWSWIRE) -- TILT Holdings Inc. ("TILT") (NEO: TILT) (OTCQX: TLLTF), a global provider of cannabis business solutions that include inhalation technologies, cultivation, manufacturing, processing, brand development and retail, today announced Jupiter Research LLC (“Jupiter Research”) has entered into an exclusive five-year manufacture, supply and distribution agreement with Curaleaf International Limited ("Curaleaf International") to bring the Jupiter manufactured Liquid Que™ vaporizer to new territories abroad, for use as a medical device with extracts developed by Curaleaf International, subject to obtaining regulatory approvals in the relevant territories.
“We are pleased to announce this agreement with Curaleaf International and the resulting expansion of TILT’s distribution footprint in Europe and other global markets,” said Gary Santo, TILT's CEO. “Our track record as an inhalation device innovator is strong, and, together with Curaleaf International’s scale and bandwidth, we expect to accelerate the development of these new and high-potential territories.”
Introduced in 2020, the Liquid Que vaporizer is the first independent pod system to be manufactured by Jupiter Research. Featuring a snap-in pod cartridge, magnetic connection, and rechargeable power supply, the Liquid Que’s cutting-edge design preserves the integrity of high-viscosity extracts at every stage.
Jupiter Research will be Curaleaf International’s exclusive supplier of all vaporizer hardware, cartridges, and related accessories including the Liquid Que, for use with liquid medical cannabis products, bringing it initially to the United Kingdom and European Union, with other territories such as Switzerland, Norway, Australia, Israel, and the United Arab Emirates to follow. Curaleaf International will in turn develop each market, coordinate approval of the formulations and extracts in each territory per local regulations and distribute the approved Liquid Que device in these markets exclusively. The Liquid Que is expected to reach the UK beginning in late 2023.
About TILT Holdings
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 and statements (together, “forward-looking information”) under applicable Canadian and U.S. securities laws which are based on current expectations. Forward-looking information is provided for the purpose of presenting information about TILT 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 new territories and receipt of necessary regulatory approvals in such territories, expected process for the development of new markets and distribution therein, timing of entry into the UK market, 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”, “will”, “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 risk 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 information. Such risk factors include, but are not limited to, those described under the heading “Risk Factors” in Amendment No. 2 to the Form 10 Registration Statement filed by TILT with the United States Securities and Exchange Commission and on SEDAR at www.sedar.com.
TILT Company Contact:
Lynn Ricci, VP of Investor Relations & Corporate Communications
TILT Holdings Inc.
Released November 9, 2022