{"id":441338,"date":"2021-02-22T17:50:28","date_gmt":"2021-02-22T22:50:28","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=441338"},"modified":"2021-02-22T17:50:28","modified_gmt":"2021-02-22T22:50:28","slug":"tilt-holdings-inc-announces-assignment-of-ermont-inc-note-receivable","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/tilt-holdings-inc-announces-assignment-of-ermont-inc-note-receivable\/","title":{"rendered":"TILT Holdings, Inc. Announces Assignment of Ermont, Inc.\u00a0Note Receivable"},"content":{"rendered":"
\n

PHOENIX, Feb. 22, 2021 (GLOBE NEWSWIRE) — TILT Holdings Inc.<\/u><\/strong><\/a> (\u201cTILT\u201d or the \u201cCompany\u201d<\/strong>) (CSE: TILT<\/u><\/strong><\/a>) (OTCQX<\/u><\/strong><\/a>: TLLTF<\/strong>), a provider of business solutions to the global cannabis industry that includes inhalation technologies, cultivation, manufacturing, processing, brand development and retail, announced the assignment by its subsidiary, SH Finance Company, LLC, of the Loan and Security Agreement entered into with Ermont, Inc. (the \u201cErmont Note<\/strong>\u201d) to Teneo Funds SPVi LLC, through an arm\u2019s-length third-party transaction, in exchange for $1,250,000 in cash and a portion of future collections pursuant to the Ermont Note. The assignment agreement contains standard representations, warranties and indemnifications between the parties.<\/p>\n

\u201cWe believe that the assignment of the Ermont Note is a substantial step in helping to resolve certain concerns that the Massachusetts Cannabis Control Commission may have with regard to control by TILT of entities other than wholly-owned TILT subsidiaries,\u201d said Gary Santo, president of TILT. \u201cWe look forward to proceeding with all haste to achieve final state licenses for our Massachusetts subsidiary, Commonwealth Alternative Care, Inc., permitting medical dispensary operations at our Brockton and Cambridge locations as well as adult-use at both Brockton and Taunton.\u201d<\/p>\n

About TILT<\/strong>
TILT helps cannabis businesses build brands. Through a portfolio of companies providing technology, hardware, cultivation and production, TILT services brands and cannabis retailers across 35 states in the U.S., as well as Canada, Israel, Mexico, South America and the European Union. TILT\u2019s core businesses include Jupiter Research, LLC, a wholly owned subsidiary and leader in the vaporization segment focused on hardware design, research, development and manufacturing; and cannabis operations Commonwealth Alternative Care, Inc. in Massachusetts and Standard Farms, LLC in Pennsylvania. TILT is headquartered in Phoenix, Arizona. For more information, visit www.tiltholdings.com<\/u><\/a>.<\/p>\n

\n Forward-Looking Information <\/strong>
\n
\n This news release contains forward-looking information based on current expectations. Forward-looking information is provided for the purpose of presenting information about management\u2019s 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, CAC\u2019s ability to successfully manufacture and distribute products in Massachusetts, the success of TILT\u2019s brand strategy, the anticipated growth of worldwide medical cannabis markets, 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 \u201cplans\u201d, \u201cexpects\u201d or \u201cdoes not expect\u201d, \u201cis expected\u201d, \u201cbudget\u201d, \u201cscheduled\u201d, \u201cestimates\u201d, \u201cforecasts\u201d, \u201cintends\u201d, \u201canticipates\u201d or \u201cdoes not anticipate\u201d, or \u201cbelieves\u201d, or variations of such words and phrases or state that certain actions, events or results \u201cmay\u201d, \u201ccould\u201d, \u201cwould\u201d, \u201cmight\u201d or \u201cwill be taken\u201d, \u201coccur\u201d or \u201cbe achieved\u201d. 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\u2019s experience and perceptions of historical trends, the ability of TILT to maximize shareholder value, current conditions and expected future developments, as well as other factors that are believed to be reasonable in the circumstances.<\/em>\n <\/p>\n

\n Although such statements are based on management\u2019s reasonable assumptions at the date such statements are made, there can be no assurance that it will 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.<\/em>\n <\/p>\n

\n 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.<\/em>\n <\/p>\n

\n For additional information regarding forward-looking statements and their related risks, please refer to the \u201cRisk Factors and Uncertainties\u201d section in the Management Discussion and Analysis of the Company for the quarter ended on September 30, 2020, which is available on the Company\u2019s SEDAR profile at <\/em>
\n
\n
\n
\n www.sedar.com<\/u>
\n <\/em>
\n <\/strong>
\n <\/a>
\n .<\/em>\n <\/p>\n

\n
\n The CSE has neither approved nor disapproved the contents of this news release.<\/u>
\n <\/em>\n <\/p>\n

\n Investor Relations Contact:<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
Taylor Allison
investors@tiltholdings.com<\/u><\/strong><\/a><\/p>\n

\n Media Contact:<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
Ellen Mellody
Ellen@mattio.com<\/u><\/strong><\/a>
570-209-2947<\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

PHOENIX, Feb. 22, 2021 (GLOBE NEWSWIRE) — TILT Holdings Inc. (\u201cTILT\u201d or the \u201cCompany\u201d) (CSE: TILT) (OTCQX: TLLTF), a provider of business solutions to the global cannabis industry that includes inhalation technologies, cultivation, manufacturing, processing, brand development and retail, announced the assignment by its subsidiary, SH Finance Company, LLC, of the Loan and Security Agreement entered into with Ermont, Inc. (the \u201cErmont Note\u201d) to Teneo Funds SPVi LLC, through an arm\u2019s-length third-party transaction, in exchange for $1,250,000 in cash and a portion of future collections pursuant to the Ermont Note. The assignment agreement contains standard representations, warranties and indemnifications between the parties. \u201cWe believe that the assignment of the Ermont Note is a substantial step in helping to resolve certain … <\/p>\n

Continue reading “TILT Holdings, Inc. Announces Assignment of Ermont, Inc.\u00a0Note Receivable”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-441338","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nTILT Holdings, Inc. Announces Assignment of Ermont, Inc.\u00a0Note Receivable - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/tilt-holdings-inc-announces-assignment-of-ermont-inc-note-receivable\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TILT Holdings, Inc. 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