Tilt Hldgs Inc Stock Price, News & Analysis

TILT Holdings Inc. has announced the launch of Black Buddha Cannabis in Pennsylvania, expanding its product offerings in the cannabis market. This social impact-driven brand, founded by Roz McCarthy, aims to promote wellness through its environmentally conscious cannabis products. The initial offering named Blyss features sativa-leaning hybrid flower, available in eighths and vapes. CEO Gary Santo highlighted the company's operational growth and readiness to meet market demands. This marks the brand's expansion beyond Massachusetts, with future plans for availability in other states.

TILT Holdings Inc. announced that its CEO, Gary Santo, has joined the Board of Directors of the National Cannabis Roundtable (NCR). This non-partisan alliance focuses on advancing cannabis policy in the U.S. Santo emphasized the ongoing challenges in cannabis reform, particularly the recent failure of the SAFE Banking Act in Congress, which highlights the need for continued advocacy for financial access and the elimination of tax barriers for cannabis businesses. TILT aims to support legislative efforts for decriminalization, consumer safety, and social equity.

TILT Holdings Inc. has made significant progress in restructuring its debt, retiring US $7.5 million in secured promissory notes in Q4, alongside amending US $2.1 million of remaining notes to extend maturity to February 28, 2023. This effort has seen the company eliminate approximately US $33.7 million of its original US $35.8 million debt. Additionally, TILT has signed an amendment with Innovative Industrial Properties to extend the sale and leaseback agreement of its Pennsylvania facility, aligning with plans for new debt refinancing.

TILT Holdings Inc. (OTCQX: TLLTF), a provider of cannabis business solutions, will attend two upcoming virtual conferences. On December 5, CEO Gary Santo will speak at the Wolfe Research Consumer Growth Conference, participating in a panel on 'Cannabis Capital, Tech, and Product.' From December 6-8, TILT executives will hold one-on-one meetings at the Cowen 5th Annual Cannabis Conference, focusing on various cannabis industry aspects. TILT operates across 37 U.S. states and internationally, providing technology, hardware, and retail solutions.

TILT Holdings, a global provider of cannabis solutions, announced the launch of the Little Beach Harvest brand in collaboration with the Shinnecock Indian Nation. This initiative aims to introduce ancestral cannabis products to Massachusetts, building on a partnership established in 2021. The brand will initially focus on flower products, with a dispensary opening in early 2023 on Shinnecock land. The partnership also includes educational scholarships for tribal members to support workforce development in the cannabis industry.

TILT Holdings announced an agreement via its subsidiary Jupiter Research with House of Blends Inc. to distribute the innovative Blend Pen™ in the U.S. and Canada. The Blend Pen™ features dual cartridges, enabling users to mix unique THC and CBD blends. Expected to launch by early 2023, it aims to enhance the personalization of cannabis consumption through adjustable power outputs and an accompanying app. This new product is showcased at the MJBizCon event, highlighting TILT's commitment to consumer-driven innovation.

TILT Holdings Inc. (TLLTF) announced the upcoming launch of Concept LVT, a unique rig-less dab solution set to debut in early 2023. Developed by TILT's subsidiary, Jupiter Research, the Concept LVT targets the growing cannabis concentrate market, projected to achieve $8 billion in retail sales this year. Featuring an innovative heating technology, this product offers enhanced flavor and ease of use, as consumers will use reusable cartridges and pre-filled crucibles. This initiative underscores TILT's commitment to innovation and responsiveness to market trends.

TILT Holdings reported an 8% increase in year-over-year revenue, driven by a remarkable 424% growth in brand partner sales. For the third quarter of 2022, revenue stood at $40.5 million, down from $53.4 million in the prior year due to lower inhalation business sales. Despite a net loss of $15.7 million compared to a net income of $1.0 million last year, TILT achieved positive cash flow from operations, totaling $8.3 million year-to-date. The company also announced an extension of senior debt maturities and a new debt agreement expected to strengthen its financial position moving forward.

TILT Holdings has launched a new cannabis-infused brownie mix called Baked at Home, developed in collaboration with the cannabis brand Old Pal. This product, available for approximately $25, simplifies the baking process for consumers by including dry ingredients infused with 100mg of THC. Each box produces 20 brownies, with each serving containing roughly 5mg of THC. The mix will be available in Massachusetts and California, just in time for the holiday shopping season, maximizing brand exposure and enhancing consumer access to cannabis edibles.