TILT Open Letter to Shareholders

0
51

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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