Vancouver, British Columbia--(Newsfile Corp. - December 7, 2018) - TILT Holdings Inc. (CSE: TILT) is one of the latest new listing on the Canadian Securities Exchange, having previously traded as Santé Veritas prior to a change of business. The company is a vertically-integrated technology and infrastructure cannabis company, with a large number of wholly-owned subsidiaries.
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This enables the company to offer clients comprehensive operations and software solutions at each touchpoint in their supply chain, from vertically-integrated operations to cutting-edge genetics and business technology solutions. The company currently services more than 1,000 dispensaries across the US and Canada.
Alexander Coleman, Co-Chairman and CEO, stated: "Our value proposition in the cannabis market is completely unique and that has led to a lot of enthusiasm in the broader market. Many industry participants right now are singularly focused on acquiring, opening and operating retail stores. This has an inherent limitation as it can only reach a finite number of consumers. The cannabis market is already evolving to reflect other, more traditional industries, so it is really about reaching the consumer based on their purchasing preferences, whether at a store, at home or on-premise. With our technology foundation and B2B focus, providing software, services and a broad range of highly engineered consumer products, we enable store operators to meet consumer preferences regardless of how they evolve. Our listing on the CSE will give TILT greater access to capital so we can continue to accelerate our growth and deliver the highest quality products and services to cannabis businesses where laws permit. It will also provide the opportunity for global investors to invest in a different cannabis business model that looks at the cannabis industry more holistically and is not exclusively about retail or infrastructure."
The company recently acquired two leading cannabis companies to expand its capabilities in the cultivation and logistics spaces.
Blackbird Holdings, a distribution company providing logistics operations and software solutions for each touchpoint in the cannabis supply chain. Blackbird works with more than 250 wholesale and retail cannabis operators in Nevada and California to transport an average of $30 million in wholesale cannabis products every 30 days. Consideration for the Blackbird acquisition consisted of US$5 million in cash and US$45 million in securities.
Standard Farms is a multi-state medical cannabis operator focused on greenhouse cultivation and Co2 extraction. Standard Farms is in over 95% of the Pennsylvania's dispensaries and has shipped over 200,000 units of product. The Standard Farms acquisition consisted of US$12 million in cash and US$28 million in securities, subject to reallocation of up to US$5 million from cash to securities.
For more information, please visit the company's website at www.tiltholdings.com. Investor relations are handled by Scott Van Winkle of ICR, who can be contacted at 617-956-6736 or by email at email@example.com.
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