TILT Extends Maturity Dates for Certain Senior Debt Holders, Announces Agreement in Principles for New Debt Facility, The Canadian Business Journal

PHOENIX, November 14, 2022 (GLOBE NEWSWIRE) — TILT Holdings Inc. (“TILT” or the “Company”) (NEO:TILT) (OTCQX: TLLTF) is a global provider of cannabis business solutions, including inhalation technology and cultivation. is. , Manufacturing, Processing, Brand Development and Retail have entered into amendments to senior secured promissory notes totaling US$9.6 million held by certain senior noteholders with maturity dates from November 14, 2022 to December 12, 2022 Extended to 31st March.

“Today’s announcement extends the maturity date of the currently issued senior notes through the end of December, aligning with the previously announced extension of the IIPR’s terms for the sale and leaseback of the Whitehaven facility. Through a series of ongoing discussions with new and existing investors, we have reached agreement in principle on the new debt as we consider refinancing these bonds and the Junior Notes maturing in April 2023; We are pleased to announce that, if signed and executed, the arrangement is expected to replace our entire legacy debt structure.

“Despite the difficult sector and macroeconomic conditions, the interest and support we have received from these investors, along with our business partnership with the team at IIPR, has been humbling and reflects their trust in our business,” Santo said. emphasized.”

About tilt
TILT helps cannabis companies build their brands. Through a portfolio of technology, hardware, cultivation and production companies, TILT serves brands and cannabis retailers in regulated markets in 37 US states, Canada, Israel, South America and the European Union. TILT’s core business includes Jupiter Research LLC, a wholly owned subsidiary and leader in the vaporization segment focused on hardware design, research, development and manufacturing. and cannabis businesses, partnerships with Commonwealth Alternative Care, Inc. of Massachusetts, Standard Farms LLC of Pennsylvania, Standard Farms Ohio, LLC of Ohio, and Shinnecock Indian Nation of New York. TILT is headquartered in Phoenix, Arizona. For more information, please visit www.tiltholdings.com.

Instagram: @tiltholdings
Twitter: @TILT_Holdings

Forward-Looking Information

This news release contains forward-looking information and statements under applicable Canadian and US securities laws (collectively, “forward-looking information”) that are based on current expectations. Forward-looking information is provided for the purpose of providing information about TILT management’s current expectations and plans for the future, and the reader acknowledges that such statements may not be appropriate for other purposes. Please be careful. Forward-looking information includes the expected closing and estimated timing of the transaction to sell and leaseback the Whitehaven, Pennsylvania facility; expectations regarding TILT’s debt refinancing; including, but not limited to, negotiations, and agreements. As a general rule, expectations regarding the execution of definitive agreements with such parties and their completion by the end of the year, expectations regarding the ability of management to repay short-term maturities and have the capital and infrastructure to carry out the plan, any opinions or beliefs, prospects, opportunities, priorities, goals, targets, ongoing goals, milestones, strategies, and prospects of TILT, including, among other things, statements regarding the future development, future operations, strengths and strategies of TILT; It is included. In general, forward-looking information is disclosed using forward-looking terms such as “planned,” “expects,” “does not expect,” “expects,” “plans,” “budget,” and “projected.” can be identified using “estimate,” “predict,” “intend,” “predict,” or “do not predict,” or “believe,” or variations of such words or phrases, or any particular action, event, or outcome; states “could”, “could”, “would”, “might”, or “taken”, “occurred” or “achieved”. These statements are not guarantees of future performance or results. These statements are not applicable in drawing conclusions or making predictions or forecasts, including but not limited to TILT’s experience and perception of past trends, TILT’s ability to maximize shareholder value, current conditions and expected future developments. based on certain key factors, assumptions and analyses. , and any other factors considered reasonable in the circumstances.

Such statements are based on management’s reasonable assumptions at the time such statements were made, but there is no guarantee that they will be completed on the terms set forth above, and actual or future results, There can be no assurance that such forward-looking information will prove to be accurate. It may differ materially from what is expected in forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. TILT undertakes no obligation to update or revise any forward-looking information to reflect new events or circumstances, except as required by applicable law.

By their nature, forward-looking information is subject to risks and uncertainties and is subject to a variety of risk factors, many of which are beyond TILT’s control, and actual results may not be It may differ significantly from what is presented. looking for information. Such risk factors include the risk that TILT will not reach definitive agreements to honor short-term maturity obligations with bondholders and investors, or that the refinancing of such obligations will occur on acceptable terms. including, but not limited to, risk or risk not taken at all. the risk that TILT may not be able to secure additional capital on attractive terms and as described under the heading “Risk Factors” in TILT’s Form 10 Registration Statement, Amendment 2, filed with a U.S. securities firm; Risk Exchange Commission and SEDAR at www.sedar.com.

Company Contact:
Lynn Ricci, Vice President, Investor Relations & Corporate Communications
TILT Holdings Co., Ltd.
[email protected]

Investor Information Contact:
Sean Mansouri, CFA
increase IR
[email protected]
720.330.2829

Media contact:
Leland Radvanovich
trail blaze
[email protected]

CBJ Newsmaker