CAMBRIDGE, Mass.--(BUSINESS WIRE)--TILT Holdings Inc. ("TILT" or the “Company”) (CSE: TILT) (OTC: SVVTF), a global technology and infrastructure company engaged in research, development, manufacturing and sale of a broad range of products for the cannabis industry, announced today the official launch of its Cannabis Inclusion Program (“Program”) empowering and supporting license holders in legalized cannabis markets. This program is designed to help support those individuals that have been disproportionately punished by cannabis laws in the past, including the Controlled Substances Act.
Helping communities move beyond socially-constructed barriers and historical stigmas, the TILT Cannabis Inclusion Program supports cannabis license holders, regardless of age, culture, ethnicity, gender identity, sexual orientation, physical ability, race, religion, size, or socioeconomic status. The Program provides various levels of support across the needs of the business including application development, cultivation infrastructure, software and services, talent management, and capital investment.
“We know it can be challenging to secure the capital, infrastructure, product, technology, and talent to effectively scale in the cannabis industry,” said Alex Coleman, Chief Executive Officer of TILT Holdings. “Our goal is to remove those barriers to entry, and help these individuals navigate the complex cannabis regulations by providing them the support to successfully get up and running in half the time at a fraction of the cost.”
TILT has been running a test program in its home state of Massachusetts, where several original not-for-profit license holders contracted with TILT. With the state’s expansion of cannabis laws now including adult use, licenses can be retail only, and the expansion of TILT’s Cannabis Inclusion Program has already generated over 25 additional applicants from Massachusetts and additional states over the past several months.
One of the approved program applicants is Seun Adedeji, a 24-year-old Nigerian immigrant who is the youngest African-American dispensary owner in Massachusetts. Adedeji came to the United States on a wrestling scholarship and opened up his first dispensary, Elev8 Cannabis, in Oregon at the age of 23. Since then, Adedeji’s dispensary has been focused on changing the narrative of the cannabis industry by embracing his company’s mission statement of “treating everyone like gold.”
“TILT is the only institution I’ve encountered that is eager to lend capital to minorities. TILT provides a solution for under-capitalized license holders to become successful business owners well beyond the money they extend,” said Adedeji. “Through the implementation of technology, tools, and resources, guided by people with great track records, TILT provides a roadmap for success that otherwise wouldn’t be available.”
Another member of TILT’s Program is Tito Jackson, former Boston City Council member, mayoral candidate and owner of Verdant Medical. In addition to participating in TILT’s Cannabis Inclusion Program, Jackson is also helping TILT identify other applicants across MA who can benefit from the Program.
“It’s important that the cannabis ownership landscape is a reflection of the state’s diverse population, and it’s great that TILT is deliberate in their inclusion efforts to ensure that groups that have historically been excluded are proactively included in ownership and operation,” Jackson said. “I am excited for Verdant to participate in the Program and I am looking forward to working with TILT to identify others who can benefit from this opportunity to be set up and supported for success.”
Any license holder or applicant interested in learning more about TILT’s Cannabis Inclusion Program reach out to CIP@TiltHoldings.com.
TILT Holdings Inc. is a vertically-integrated technology and infrastructure platform delivering the most comprehensive range of products and services across the cannabis industry. TILT strives to deliver the highest quality products and services through knowledge-based technology systems for both businesses and consumers. TILT technologies has a presence in more than 1,000 dispensaries across the U.S., Canada, Puerto Rico and Jamaica. For more information, please visit www.tiltholdings.com.
The CSE has neither approved nor disapproved the contents of this news release.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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, statements regarding the operations, business, financial condition, expected financial results, performance, 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 the Company. 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, current conditions and expected future developments, as well as other factors that are believed to be reasonable in the circumstances.
Examples of the assumptions underlying the forward-looking statements contained herein include, but are not limited to those related to: the ability of TILT to obtain necessary financing in the future to pursue its business plans, the achievement of goals, the obtaining of all necessary permits and governmental approvals, as well as expectations regarding availability of equipment, skilled labour and services needed for cannabis operations, intellectual property rights, development, operating or regulatory risks, trends and developments in the cannabis industry, business strategy and outlook, expansion and growth of business and operations, the timing and amount of capital expenditures; future exchange rates; the impact of increasing competition; conditions in general economic and financial markets; access to capital; future operating costs; government regulations, including future legislative and regulatory developments involving medical and recreational marijuana and the timing thereto; receipt of appropriate and necessary licenses in a timely manner; the effects of regulation by governmental agencies; the anticipated changes to laws regarding the recreational use of cannabis; the demand for cannabis products and corresponding forecasted increase in revenues; and the size of the medical marijuana market and the recreational marijuana market.
Although such statements are based on management’s reasonable assumptions at the date such statements are made, there can be no assurance that they it 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 Holdings 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. These factors include, but are not limited to: denial or delayed receipt of all necessary consents and approvals; need for additional capital expenditures; increased costs and timing of operations; unexpected costs associated with environmental liabilities; requirements for additional capital; reduced future prices of cannabis; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the cannabis industry; delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities; title disputes; claims limitations on insurance coverage; risks related to the integration of acquisitions; fluctuations in the spot and forward price of certain commodities (such as diesel fuel and electricity); changes in national and local government legislation, taxation, controls, regulations and political or economic developments in the countries where the Company may carry on business in the future; liabilities inherent in cannabis operations; risks relating to medical and recreational cannabis; cultivation, extraction and distribution problems; competition for, among other things, capital, licences and skilled personnel; risks relating to the timing of legalization of recreational cannabis; changes in laws relating to the cannabis industry; and management’s success in anticipating and managing the foregoing factors.