CAMBRIDGE, Mass.--(BUSINESS WIRE)--TILT Holdings Inc. (“TILT” or the “Company”) (“TILT”) (CSE: TILT) (OTCQB: SVVTF), a leading provider of products and services to businesses operating in the cannabis industry, today announced that Jupiter Research, LLC (“Jupiter”), a leader in inhalation and vaporization technology and wholly owned subsidiary of TILT, has further expanded distribution of its proprietary, high-performance technologies in California through its integration with TILT’s software and supply chain services. The expansion allows Jupiter to establish a physical presence with increased geographic reach throughout California, enabling TILT to develop stronger customer relationships and deliver Jupiter products to B2B customers more quickly than ever before.
TILT acquired Jupiter in early 2019 to further expand its technology ecosystem and B2B reach across the supply chain. Through this acquisition, Jupiter has accelerated its growth with additional distribution opportunities leveraging TILT’s software, logistics and supply chain services provided by Blackbird Logistics (“Blackbird”) and Baker Technologies, Inc. (“Baker”). The integration of TILT’s operations and software solutions, combined with its robust distribution services allows Jupiter to provide support to its more than 640 customers in California with just-in-time inventory fulfillment and services.
“At TILT our vision is to help cannabis businesses better serve their customers and patients by providing them the tools to communicate, operate, and scale with a greater degree of efficiency,” said Alex Coleman, Chief Executive Officer of TILT Holdings. “Through Jupiter’s expansion with Blackbird and Baker, Jupiter customers benefit from partnered solutions and shared expertise pivotal for success in the global cannabis economy. The continued integration of our businesses is driving cross-selling opportunities that deliver more value to our customers and increased revenue opportunities for TILT.”
As more and more consumers prefer inhalation devices, Jupiter is an industry leader in vaporization technologies. Jupiter produces power supplies and cartridges specifically designed for cannabis oil in the market today, featuring Jupiter’s proprietary ceramic CCELL technology. Jupiter’s team has decades of combined experience in vaporization partners with more than 800 brands and cannabis retailers across the United States (“U.S.”), Canada, Israel and the E.U.
TILT is a leading provider of products and services to businesses operating in the cannabis industry. The Company offers the contract manufacturing of marijuana in a variety of form factors, vaporizer and inhalation devices, business and consumer delivery services and a broad suite of software products for over 1,500 retailers and brands throughout the U.S., Canada and Europe. The majority of TILT’s products are customized to client specifications and branding, all enabling them to operate their businesses more efficiently and connect with their customers more effectively. The Company is organized in two main business units, Software & Services and Consumer Devices & Packaged Goods, designed to augment competencies across the organization in research, manufacturing, packaging and technology to deliver end-to-end services and customer solutions. All of TILT’s products are supported by an extensive research process led by scientists and engineers, using data analytics and discovery to produce new products helping shape the industry. Headquartered in Cambridge, MA, with offices throughout the U.S., Toronto and London, TILT has over 500 employees and has sales in 40 U.S. states, Canada and Europe. For more information, please 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, statements relating to the accelerated growth and expansion of Jupiter’s business, 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”, “will”, “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, 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 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 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.
The CSE has neither approved nor disapproved the contents of this news release.