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TILT Signs Third Amendment to Facility Purchase Agreement in Whitehaven, Pennsylvania, Canadian Business Journal

PHOENIX, Sept. 30, 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, has entered into a third to a previously announced definitive agreement with Innovative Industrial Properties, Inc. (“IIPR”) to sell and lease back its Whitehaven, Pennsylvania facility. I have signed an amendment (“Amendment”) to This amendment allows TILT and IIPR to extend the end of the investigation period for the transaction being considered to any date on or before November 1, 2022. Both parties are extending the investigation period to accommodate a second round of testing to satisfy requests from the Pennsylvania Department of Justice. of environmental protection. The parties believe that the extended investigation period should allow sufficient time to resolve all outstanding issues and complete the necessary paperwork to close the transaction.

Since its acquisition in January 2019, the company has operated its White Haven facility at 411 Susquehanna Street as Standard Farms LLC, comprising an approximately 40,000 square foot building that includes a growing, processing and product manufacturing lab. For more information, please see our original press release dated January 28, 2019.

About tilt
tilt It helps cannabis companies build their brands. Through a portfolio of technology, hardware, cultivation and production companies, TILT serves brands and cannabis retailers in 37 US states, Canada, Israel, Mexico, South America and the European Union. TILT’s core business includes: Jupiter Research LLCa wholly-owned subsidiary focused on hardware design, research, development and manufacturing, as well as the cannabis business, is a leader in the vaporization segment. Commonwealth Alternative Care, Inc. in Massachusetts, Standard Farms LLC in Pennsylvania, Standard Farms Ohio, LLC Ohio and its partnership With the Shinnecock Indian Nation in New York. TILT is headquartered in Phoenix, Arizona. For more information, see: 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 completion of the investigation period, the expected completion of the transaction to sell and leaseback the White Haven facility, the expected timing of such completion, the expected receipt of outstanding scrutiny items, and the Pennsylvania Department of State’s request. including, but not limited to, the satisfaction of environmental protection, management’s opinions or beliefs, prospects, opportunities, priorities, goals, targets, on-going goals, milestones, strategies, and TILT prospects; Among other things, it includes statements regarding future development, operations, expansion and strategy. tilt. In general, forward-looking information may include information such as “planned”, “expected” or “not expected”, “anticipated”, “planned”, “budget”, “planned”, “forecast”, “predict,” “intend,” “predict,” “do not predict,” or “believe,” or variations of such words or phrases, or that a particular action, event, or outcome “may” ‘, ‘could’, ‘would’, ‘might’ or ‘will be taken’, ‘occurred’ or ‘achieved’. These statements are not guarantees of future performance or results. These statements are based on TILT’s experience and perception of historical trends, TILT’s ability to maximize shareholder value and grow its business, current conditions, and other factors that may be applied in drawing conclusions or making projections or forecasts. Based on key factors, assumptions and analysis. Anticipated future developments and other factors that we believe are reasonable under 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 those identified under the heading “Risk Factors” in TILT’s No. 2 Amendment to Form 10 registration statement filed with the U.S. Securities and Exchange Commission; including, but not limited to, those listed in the SEDAR of 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]

Media contact:
Juliet Fairbrother
Mattio Communications
[email protected]

CBJ Newsmaker

TILT Signs Third Amendment to Facility Purchase Agreement in Whitehaven, Pennsylvania, Canadian Business Journal

Source link TILT Signs Third Amendment to Facility Purchase Agreement in Whitehaven, Pennsylvania, Canadian Business Journal

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