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TILT Holdings (TLLTF) Stock Higher Today After the Company Receives Medical Dispensary and Adult-Use Licenses

Friday, August 13, 2021 11:52 AM | Kyle Depontes
TILT Holdings (TLLTF) Stock Higher Today After the Company Receives Medical Dispensary and Adult-Use Licenses

What is going on with TLLTF?

Tilt Holdings Inc. (TLLTF) stock is higher today after the company announced that the Massachusetts Cannabis Control Commission has granted TILT’s subsidiary, Commonwealth Alternative Care, Inc., a total of four provisional licenses for the cultivation, manufacturing and sale of adult-use cannabis at its Taunton location and the sale of adult-use cannabis at its Brockton location. The Commission also granted Commonwealth a final license for the sale of medical cannabis in Brockton.

Tilt Holdings is a global provider of business solutions to the cannabis industry that includes inhalation technologies, cultivation, manufacturing, processing, brand development and retail. Shares of TLLTF increased 1.97% to $0.505 as of Friday at 11:21am.

What does this mean for Tilt Holdings Inc?

Tilt's reception of its adult-use and medical dispensary licenses ends a long, three year wait for the company. While waiting for approval, Tilt's Taunton facility had been supplying cannabis retailers and medical marijuana patients in Massachusetts with premium cannabis. The company also expanded its cultivation capacity, all the while waiting for the necessary licenses.

“This has been a long journey for TILT and its shareholders.” said Gary Santo, CEO of TILT Holdings. "The approval of these provisional licenses, along with the final approval of our Brockton medical license, will further expand CAC’s presence in the state and, together with our brand partners, will help TILT meet both patient and consumer demand in the Commonwealth."

CAC’s recently expanded Taunton facility houses over 100,000 square feet of cultivation, manufacturing, and retail space. More than 50% of that space dedicated to cultivation.

Long-Term Technical Rank - 28

TLLTF has a Long-Term Technical Rank of 28. Find out what this means to you and get the rest of the rankings on TLLTF!

TILT Holdings Inc is a vertically integrated technology and infrastructure platform that delivers products and services across the cannabis industry. The company operates in five segments namely cannabis, technology and infrastructure, distribution, accessories, and others. The majority of the revenue is generated from the Accessories segment which is engaged in the manufacturing and distribution of electronic, non-nicotine (i.e., cannabis) devices and systems. The company's geographical segments include the United States and Canada, of which the majority of the revenue is generated from the United States.

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