CAMBRIDGE,
Mass.,
Jan.
21,
2020
(GLOBE
NEWSWIRE)
—
TILT
Holdings
Inc.
(“TILT”
or
the
“Company”)
(CSE:
TILT)
(OTCQB:
TLLTF),
a
foundational
technology
cannabis
platform
comprised
of
assets
to
support
brands
worldwide,
released
the
following
letter
today
from
the
Company’s
interim
Chief
Executive
Officer
Mark
Scatterday.
Dear
Shareholders:
As
we
progress
in
2020,
we
are
moving
forward
with
a
reinvigorated
sense
of
purpose
and
energy.
Our
vision
is
clear:
TILT
supports
cannabis
businesses
across
the
globe
through
our
portfolio
of
innovative
technology
companies.
From
software
solutions
to
inhalation
technology
and
more,
TILT
helps
over
2,000
brands
and
retailers
achieve
success
in
this
ever-changing
industry.
While
2019
was
a
challenging
year
for
public
companies
in
our
industry,
l
am
encouraged
and
reassured
knowing
that
we
have
such
a
strong
and
supportive
group
of
people
working
together
with
us
and
toward
the
same
goals.
The
new
year
is
off
to
a
great
start,
following
on
the
heels
of
a
productive
fourth
quarter.
A
few
recent
updates
include:
-
The
successful
migration
of
Baker
Technologies
Inc.
(“Baker”)
clients
into
the
Blackbird
Logistics
Corporation
(“Blackbird”)
platform
quadruples
existing
clients
across
its
software
platform
–
right
in
time
for
the
recent
expansion
of
our
product
offering.
This
is
an
impressive
feat,
and
with
all
these
clients
on
a
single
software
platform
we
have
one
of
the
largest
footprints
in
the
industry; -
Jupiter
Research,
LLC
(“Jupiter”)
releasing
several
new
proprietary
devices
that
we
debuted
in
Las
Vegas
last
month.
We
also
have
several
new
exciting
opportunities
on
the
horizon.
In
support
of
our
technology
and
innovation
businesses,
our
plant
touching
assets
continue
to
generate
revenue
and
free
cash
flow
which
will
help
fund
the
expansion
of
Jupiter
and
Blackbird:
-
In
Massachusetts,
we
are
working
closely
with
our
operations
and
construction
team
in
Taunton
to
finalize
our
Certificate
of
Occupancy.
With
this
additional
capacity
online
(50,000
square
feet),
we
expect
to
double
our
cultivation
footprint
and
increase
our
packaging
space.
We
are
expecting
to
see
a
significant
increase
in
revenue
from
this
effort
once
complete.
We
have
also
been
working
closely
with
our
affiliate
partners
and
the
Cannabis
Control
Commission
(CCC)
to
revise
legacy
supply
and
services
agreements
that
are
not
in
line
with
our
refined
business
focus
or
our
approach
to
social
justice
and
advocacy.
This
resulted
in
our
friend
Elev8
Cannabis
receiving
its
provisional
licenses
in
Massachusetts,
and
while
additional
obstacles
remain,
brings
us
one
step
toward
our
own
recreational
licenses
in
the
State. -
In
Ohio,
our
production
facility
is
operational
–
we
have
purchased
cannabis
biomass
from
local
providers
and
successfully
produced
cannabis
products.
We
are
finalizing
our
go-to-market
strategy
and
expect
revenue
to
follow
shortly.
We
will
continue
to
innovate
and
lead
the
industry
in
supporting
brands
and
retailers
through
our
focus
on
technology
and
services.
This
continued
progress
shows
the
underlying
and
inherent
value
of
TILT:
a
portfolio
of
complementary
businesses
driving
growth
across
the
global
cannabis
industry.
Sincerely,
Mark
Scatterday
Interim
Chief
Executive
Officer
About
TILT
TILT
Holdings
serves
cannabis
brands
worldwide
through
a
strong
network
of
portfolio
companies
committed
to
technological
innovations
that
support
long-term
success.
TILT
services
more
than
2,000
brands
and
cannabis
retailers
across
33
states
in
the
U.S.,
as
well
as
in
Canada,
Israel,
Mexico,
South
America
and
the
European
Union.
As
a
market
leader
in
cannabis
technology
and
related
products
and
services,
the
Company’s
core
assets
include
wholly-owned
subsidiaries
Jupiter,
a
company
that
focuses
on
the
vast
potential
of
inhalation
through
innovative
design,
development
and
manufacturing;
Blackbird,
a
company
that
provides
operations
and
software
solutions
for
wholesale
and
retail
distribution;
and
Baker,
a
CRM
platform
helping
dispensaries
grow
their
business.
The
Company
also
owns
cannabis
operations
in
states
including
Massachusetts,
led
by
Commonwealth
Alternative
Care,
Inc.;
and
in
Pennsylvania,
led
by
Standard
Farms,
LLC.
Headquartered
in
Cambridge,
Massachusetts,
with
offices
throughout
the
U.S.,
and
London,
TILT
has
over
400
employees
and
has
sales
in
the
U.S.,
Canada
and
Europe.
For
more
information,
visit www.tiltholdings.com.
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The
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and
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