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TILT Holdings Inc. reports developments tied to its cannabis business-solutions portfolio, including inhalation technologies, cultivation, manufacturing, processing, brand development and retail. Its core business, Jupiter Research LLC, designs, develops and distributes vaporization hardware for cannabis brands and retailers across the United States, Canada, South America and the European Union.
Recurring updates include financial results, shareholder meeting outcomes, Jupiter product and regulatory developments, asset sales involving retail operations, and corporate-status matters. Recent company news also covers CCAA proceedings, noteholder voting materials, trading suspensions and delisting-related notices affecting TILT's common shares.
TILT Holdings Inc. reported preliminary revenue for Q4 2020 between $42.2 million and $43.2 million, up from $40.4 million in Q3 2020. Adjusted EBITDA for Q4 is projected between $2.6 million and $3.6 million. Operationally, Jupiter Research's revenue doubled, and production capacity at Commonwealth Alternative Care and Standard Farms increased by 100%. TILT anticipates 2021 revenues of $205 million to $210 million and adjusted EBITDA between $30 million and $32 million. The company ended 2020 with a cash balance of $7.4 million, an increase from $4.3 million in September.
TILT Holdings Inc. congratulates its partner, Kanabo Group PLC, for being the first medical cannabis IPO to list on the London Stock Exchange under the ticker KNB. The CEO, Mark Scatterday, highlights this milestone as a significant opportunity for capital access and growth in the European cannabis market. TILT anticipates expanding its partnership with Kanabo, focusing on registering its first medical device in Europe via an audit under the Medical Devices Directive.
TILT Holdings Inc. has partnered with female-owned cannabis brand Her Highness NYC to launch a range of products in Massachusetts. The collaboration includes the Last Prisoner Project Single Pre-Rolls, with proceeds supporting women imprisoned for minor cannabis charges. This initiative aligns with Women's History Month and aims to introduce THC products to the market, enhancing TILT's growth strategy and brand expansion through its extensive distribution network. TILT's President Gary Santo emphasizes the alignment of both brands in promoting female empowerment and destigmatizing cannabis use among women.
TILT Holdings Inc. (OTCQB: TLLTF) announced regulatory approval for its subsidiary, Commonwealth Alternative Care, Inc. (CAC), to expand its cultivation facility in Taunton, Massachusetts. The expansion includes an additional 10,000 square feet of flower rooms, raising TILT's overall flower canopy by over 50%. This move aims to meet increasing demand in both the dispensary and wholesale markets. Future plans include a second expansion phase, pending separate regulatory approval. CEO Mark Scatterday emphasized the commitment to enhancing shareholder value through this growth.
On September 30, 2020, TILT Holdings (CSE: TILT, OTCQB: TLLTF) announced its participation in two upcoming cannabis conferences. The first event is the Canaccord Genuity’s 2020 Cannabis Symposium on September 30, where management will present at 4 PM EDT and engage in virtual one-on-one meetings. The second event is the Benzinga Cannabis Capital Conference on October 15, featuring panel discussions and more virtual meetings. TILT provides solutions to the cannabis industry and supports over 2,000 brands across multiple regions.