PHOENIX, April 19, 2022 (GLOBE NEWSWIRE) — TILT Holdings Inc. (“TILT” or the “Company”) (NEO:TILT) (OTCQX: TLLTF), a global provider of cannabis business solutions that include inhalation technologies, cultivation, manufacturing, processing, brand development, and retail, today announced that it has filed a Registration Statement on Form 10 with the United States Securities and Exchange Commission (“SEC”) to register its common shares under Section 12(g) of the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”).
“In 2021, TILT uplisted to the NEO Exchange which requires a higher class of reporting standards and corporate governance from its issuers, launched its new strategy within its plant-touching business to deliver a differentiated B2B strategy to help cannabis companies build brands, as well as drove innovative work and strong partnerships in Jupiter, its inhalation business,” said Gary Santo, Chief Executive Officer of TILT. “With 4/20 this week and the awareness that brings, I am excited to get things going with the filing of a Form 10 Registration Statement as another important step forward for TILT as we continue to grow, align with U.S. reporting standards, provide greater transparency for our shareholders, and prepare TILT for when federal legalization happens in this country.”
The Form 10, unless withdrawn, is anticipated to become effective in accordance with the SEC’s regulations. Once effective, TILT will be subject to the reporting requirements of the Exchange Act, which includes reporting its financial results in accordance with U.S. GAAP and filing annual, quarterly, and current reports, as well as proxy statements with the SEC. The Form 10 is available on the SEC’s website at www.sec.gov and has also been filed on Canada’s System for Electronic Document Analysis and Retrieval (“SEDAR”).
TILT helps cannabis businesses build brands. Through a portfolio of companies providing technology, hardware, cultivation and production, TILT services brands and cannabis retailers across 36 states in the U.S., as well as Canada, Israel, South America and the European Union. TILT’s core businesses include Jupiter Research LLC, a wholly-owned subsidiary and leader in the vaporization segment focused on hardware design, research, development and manufacturing; and cannabis operations, Commonwealth Alternative Care, Inc. in Massachusetts, Standard Farms LLC in Pennsylvania, Standard Farms Ohio, LLC in Ohio, and its partnership with the Shinnecock Indian Nation in New York. TILT is headquartered in Phoenix, Arizona. For more information, visit www.tiltholdings.com.
This news release contains forward-looking information based on current expectations. Forward-looking information is provided for the purpose of presenting information about management’s current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. Forward looking information may include, without limitation, the expected effective date of the Form 10, the Company becoming subject to Exchange Act reporting requirements upon the Form 10 becoming effective, the opinions or beliefs of management, prospects, opportunities, priorities, targets, goals, ongoing objectives, milestones, strategies and outlook of TILT, and includes statements about, among other things, future developments, the future operations, strengths and strategy of TILT. Generally, forward looking information can be identified by the use of forward looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. These statements should not be read as guarantees of future performance or results. These statements are based upon certain material factors, assumptions and analyses that were applied in drawing a conclusion or making a forecast or projection, including TILT’s experience and perceptions of historical trends, the ability of TILT to maximize shareholder value, current conditions and expected future developments, as well as other factors that are believed to be reasonable in the circumstances.
Although such statements are based on management’s reasonable assumptions at the date such statements are made, there can be no assurance that it will be completed on the terms described above and that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on the forward-looking information. TILT assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.
By its nature, forward-looking information is subject to risks and uncertainties, and there are a variety of material factors, many of which are beyond the control of TILT, and that may cause actual outcomes to differ materially from those discussed in the forward-looking statements.
For additional information regarding forward-looking statements and their related risks, please refer to the “Risk Factors and Uncertainties” section in the Annual Information Form of the Company for the year ended on December 31, 2021, which is available on the Company’s SEDAR profile at www.sedar.com.
Lynn Ricci, VP of Investor Relations & Corporate Communications
TILT Holdings Inc.
Investor Relations Contact:
Sean Mansouri, CFA
Source: TILT Holdings Inc.
Released April 19, 2022