TILT announces historic partnership with Shinnecock Indian Nation of New York to develop vertical cannabis operations


2021-08-26 00:00:11 CFN Media Group


  PHOENIX, Aug. 24, 2021 (GLOBE NEWSWIRE) — TILT Holdings Inc. (“TILT” or the “Company”) (NEO: TILT) (OTCQX: TLLTF), a global provider of cannabis business solutions that include inhalation technologies, cultivation, manufacturing, processing, brand development and retail, today announced a new partnership with the Shinnecock Indian Nation (“Shinnecock” or the “Nation”), a federally recognized Native American tribe living on their traditional lands on Long Island, N.Y., to establish vertical cannabis operations on their aboriginal tribal territory in the Hamptons. Through a joint venture with the Nation’s cannabis project development firm Conor Green, TILT will finance, build and provide management services for the vertical cannabis operations of the Shinnecock Nation’s wholly owned cannabis business, Little Beach Harvest (“Little Beach Harvest”). The combination of TILT’s cannabis industry expertise with Shinnecock’s long history of understanding and use of plant medicine for healing will serve as the foundation of a truly unique and socially equitable partnership in the cannabis industry. “We are proud to help create an entry into the cannabis industry that will be impactful for the Shinnecock Nation,” said Gary Santo, CEO of TILT Holdings. “To date, Indigenous people have been largely excluded from the social equity conversation across the country. This partnership — which is a true partnership in every sense — is a step forward in creating social equity for the Nation. We believe our expertise in cannabis operations along with Shinnecock’s thought-leadership and cultural connection to plant medicine will deliver economic growth for the region, while cementing the Nation as a leader in cannabis operations among Indigenous communities.” The TILT team will work closely with Little Beach Harvest to educate, train and employ tribal members and the local community, together creating a sustainable environment that fosters economic growth within Shinnecock for generations to come. “This is an exciting and momentous opportunity for our Nation,” said Chenae Bullock, member of the Shinnecock Nation and Managing Director of Little Beach Harvest. “As the wealth gap in the U.S. has grown wider and wider, it is economic development opportunities like this that will help our tribe bridge the gap. Through our partnership with TILT, we will not only create dozens of jobs and jump start careers, but will also cultivate business relationships with other tribal business owners, generating growth for Indigenous communities.” Shinnecock Nation Chairman Bryan Polite added, “Over the past few years, we have been working diligently to ensure that the Shinnecock Nation will be a responsible and positive addition to the New York cannabis market. We have been impressed by TILT’s commitment to building such an equitable partnership and believe that they bring the right kind of expertise at precisely the right time to help us become a leading operator in the emerging New York cannabis market.” Transaction & Financial Highlights A subsidiary of TILT has purchased 100% of the Class A membership interests of Standard Farms New York, LLC (“SFNY”) which will hold a 75% interest in a joint venture with Conor Green for approximately $700,000, in cash and stock, with up to $2.65 million to be paid in additional shares priced at the time of closing, to be issued upon achievement of certain milestones, including commencement of retail and wholesale cannabis sales. Through the agreements between the joint venture and Little Beach Harvest, TILT will provide management services to Little Beach Harvest for the development of the facilities, including planning, design and funding of up to approximately $18 million in capital expenditures in order to provide a fully vertical cannabis operation. The 9% debt financing TILT provides is repaid through cash flows monthly and is secured by the assets of the project which will include: a 60,000 square-foot cultivation, processing, extraction and packaging facility; a two-story dispensary with a drive through; and an adjacent wellness lounge. A cornerstone of the business will be for Native Preference in its hiring and career development opportunities, as well as providing an economic engine for the local job market, contractors, and community. The dispensary and lounge are being built on Montauk Highway, just minutes from Southampton’s business district, Cooper’s Beach, and Shinnecock Hills Golf Club. In exchange for providing management services, SFNY receives 11.25% of the Nation’s gross revenue as well as 18.75% of free cash flows from all Shinnecock cannabis operations during the initial term of up to nine years. The management agreement may be extended up to 10 additional years, pending accomplishment of certain performance-based milestones related to revenue and profitability. Unless otherwise indicated, all dollar amounts in this news release are expressed in U.S. dollars. About TILT TILT helps cannabis businesses build brands. Through a portfolio of companies providing technology, hardware, cultivation and production, TILT services brands and cannabis retailers across 36 states in the U.S., as well as Canada, Israel, Mexico, South America and the European Union. TILT’s 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, Standard Farms LLC in Pennsylvania and Standard Farms Ohio, LLC in Ohio, and its partnership with the Shinnecock Indian Nation in New York. TILT is headquartered in Phoenix, Arizona. For more information, visit www.tiltholdings.com. About Little Beach Harvest and Shinnecock Indian Nation Shinnecock Indian Nation is a federally recognized Native American tribe located on its ancestral territory on Long Island, New York. Our multi-year development of Little Beach Harvest, which includes a modern two-story dispensary and lounge, creates a unique cannabis destination in the Hamptons and will be supplied by our state-of-the-art cultivation facility. Little Beach Harvest is fully owned and operated by the Shinnecock Nation on its sovereign land and its partnership with TILT and Conor Green is a ground-breaking step forward for social equity in the cannabis industry. Little Beach Harvest is regulated by the Shinnecock Cannabis Regulatory Division under the Nation’s tribal cannabis laws. Our mission is to provide an alternative, natural way of healing while creating economic prosperity and sustainability for our community. Our dispensary and lounge will offer a wide variety of cannabis products and form factors, medical marijuana consultations, plus community outreach, education, and social events centered around plant medicines. For more information, visit www.LittleBeachHarvest.com. Forward-Looking Information 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, expected economic growth within the Tribe and surrounding community, potential issuance of additional shares to Conor Green pending achievement of certain milestones, estimated lending amount for capital expenditures to fully build the Nation’s cannabis operations, potential size of facilities to be built, anticipated extensions of the agreements with Shinnecock Nation, 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” or “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, 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. Although such statements are based on management’s 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. 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. For additional information regarding forward-looking statements and their related risks, please refer to the “Risk Factors and Uncertainties” section in the Management Discussion and Analysis of the Company for the quarter ended on March 31, 2021, which is available on the Company’s SEDAR profile at www.sedar.com. The NEO Exchange has neither approved nor disapproved the contents of this news release. Investor Relations Contact: Taylor Allison [email protected] Media Contact: Juliet Fairbrother MATTIO Communications [email protected] 631.338.5343 This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
凤凰,2021年8月24日(环球新闻)--蒂尔控股公司(“蒂尔”或“公司”)(NEO:TILT)(OTCQX:TLLTF)是一家全球大麻商业解决方案提供商,包括吸入技术、种植、制造、加工、品牌开发和零售,今天宣布与Shinnecock印第安民族(“Shinnecock”或“民族”)建立新的伙伴关系,在汉普顿的土著部落领土上建立纵向大麻业务。Shinnecock是一个联邦承认的居住在纽约长岛传统土地上的美国土著部落。 通过与该国大麻项目开发公司康纳·格林(Conor Green)的一家合资企业,TILT将为Shinneck国家全资拥有的大麻业务Little Beach Harvest(“Little Beach Harvest”)的纵向大麻业务提供资金、建设和管理服务。TILT的大麻行业专业知识与Shinnecock了解和使用植物药物治疗的悠久历史相结合,将成为大麻行业真正独特和社会公平的伙伴关系的基础。 TILT Holdings首席执行官加里·桑托(Gary Santo)表示:“我们很自豪能帮助创造一个对辛内科克国家有影响的大麻行业。”“迄今为止,土著人民在很大程度上被排除在全国各地的社会公平对话之外。这种伙伴关系--在任何意义上都是真正的伙伴关系--是为国家创造社会公平的一个进步。我们相信,我们在大麻业务方面的专业知识,以及辛内科克与植物医学的思想领导力和文化联系,将为该地区带来经济增长,同时巩固该国作为土著社区大麻业务领导者的地位。“ TILT团队将与Little Beach Harvest密切合作,教育、培训和雇佣部落成员和当地社区,共同创造一个可持续的环境,为未来几代人促进Shinneck的经济增长。 “这对我们的国家来说是一个激动人心的重大机会,”辛内科克国家成员兼小海滩收获公司总经理切纳·布洛克说。“随着美国的财富差距越来越大,像这样的经济发展机会将帮助我们的部落弥合差距。通过与TILT的合作,我们不仅将创造数十个就业机会和启动职业生涯,还将培养与其他部落企业主的商业关系,为土著社区带来增长。“ 辛内科克国家主席布莱恩·礼貌补充说:“在过去的几年里,我们一直在努力确保辛内科克国家将成为纽约大麻市场负责任和积极的成员。Tilt致力于建立这样一种公平的伙伴关系,这给我们留下了深刻的印象,并相信他们在正确的时间带来了正确的专业知识,帮助我们成为新兴的纽约大麻市场的领先运营商。“ 交易与财务要点 TILT的一间附属公司已以现金及股票约700,000美元购入Standard Farms New York,LLC(“SFNY”)100%的A类会员权益,该公司将持有与Conor Green合营企业75%的权益,并将以于收市时定价的额外股份支付最多265,000美元,该股份将于实现若干里程碑时发行,包括开始零售及批发大麻销售。 通过合资企业和Little Beach Harvest之间的协议,TILT将为Little Beach Harvest提供设施开发方面的管理服务,包括规划、设计和资助高达1800万美元的资本支出,以提供完全垂直的大麻业务。TILT提供的9%债务融资通过每月现金流偿还,并以项目资产作为担保,包括: 6万平方英尺的种植、加工、提取和包装设施; 一个带车道的两层楼药房;和 邻近的健康休息室。 该业务的基石将是在招聘和职业发展机会方面优先考虑本地人,并为当地就业市场、承包商和社区提供经济引擎。药房和休息室建在蒙托克高速公路上,距离南安普顿的商业区、库珀海滩和辛内科克山高尔夫俱乐部只有几分钟的路程。 作为提供管理服务的交换,SFNY在长达9年的初始任期内,从所有辛内科克大麻业务中获得11.25%的国家总收入和18.75%的自由现金流。管理协议可再延长最多10年,以待完成若干有关收入及盈利能力的业绩里程碑。 除非另有说明,本新闻稿中的所有美元金额均以美元表示。 关于倾斜 倾斜帮助大麻企业建立品牌。通过提供技术、硬件、种植和生产的公司组合,倾斜服务品牌和大麻零售商遍布美国36个州,以及加拿大、以色列、墨西哥、南美和欧盟。TILT的核心业务包括Jupiter Research LLC,一家全资子公司,是汽化领域的领导者,专注于硬件设计、研究、开发和制造;大麻业务、马萨诸塞州的英联邦替代护理公司、宾夕法尼亚州的标准农场有限责任公司和俄亥俄州的标准农场有限责任公司,以及它与纽约的辛内科克印第安民族的伙伴关系。TILT总部位于亚利桑那州凤凰城。欲了解更多信息,请访问www.tiltholdings.com。 关于小海滩收获和Shinnecock印第安民族 Shinnecock印第安民族是一个联邦承认的美洲土著部落,位于纽约长岛的祖传领土上。我们多年来开发的小海滩收获,包括一个现代化的两层药房和休息室,在汉普顿创建了一个独特的大麻目的地,并将由我们最先进的种植设施提供。小海滩收获在其主权土地上完全由辛内科克国家拥有和经营,它与蒂尔特和康纳·格林的合作关系是大麻行业社会公平的开创性一步。小海滩收获由Shinnecock大麻监管部门根据国家部落大麻法律监管。我们的使命是提供一种替代的、自然的康复方式,同时为我们的社区创造经济繁荣和可持续发展。我们的药房和休息室将提供各种各样的大麻产品和形状因素,医用大麻咨询,加上社区外联,教育和围绕植物药物的社会活动。欲了解更多信息,请访问www.littlebeachharvest.com。 前瞻性信息 本新闻稿包含基于当前预期的前瞻性信息。提供前瞻性资料的目的是说明管理层目前的预期和与未来有关的计划,并提醒读者,此类陈述可能不适用于其他目的。前瞻性信息可包括但不限于部落和周围社区内的预期经济增长、在实现某些里程碑之前向康纳·格林发行额外股份的可能性、资本支出的估计贷款金额以充分建设国家的大麻业务、待建设施的潜在规模、与Shinnecock Nation协议的预期延长、管理层的意见或信念、前景、机会、优先事项、指标、目标、持续目标、里程碑、战略和TILT的前景,并包括关于TILT的未来发展、未来业务、优势和战略等的陈述。一般来说,前瞻性信息可以通过使用前瞻性术语来识别,如“计划”、“预期”或“不预期”、“预期”、“预算”、“计划”、“估计”、“预测”、“打算”、“预期”或“不预期”或“相信”,或这些单词和短语的变体,或说明某些行动、事件或结果“可能”、“可能”、“将要”、“可能”或“将要采取”、“发生”或“实现”。这些陈述不应被理解为对未来业绩或结果的保证。该等陈述乃基于作出结论或作出预测或预测时所应用的若干重要因素、假设及分析,包括TILT的经验及对历史趋势的认知、TILT最大化股东价值的能力、当前状况及预期未来发展,以及在当时情况下被认为合理的其他因素。 虽然该等陈述乃基于管理层于作出该等陈述当日的合理假设,但由于实际结果及未来事项可能与该等前瞻性资料所预期的有重大差异,故不能保证该等陈述将按上述条款完成,且该等前瞻性资料将被证明是准确的。因此,读者不应过分依赖前瞻性信息。除非适用法律要求,否则TILT不承担更新或修改前瞻性信息以反映新事件或情况的责任。 就其性质而言,前瞻性信息受到风险和不确定性的影响,存在各种重要因素,其中许多因素超出了倾斜的控制范围,可能导致实际结果与前瞻性陈述中讨论的结果大相径庭。 有关前瞻性陈述及其相关风险的更多信息,请参阅截至2021年3月31日止季度本公司管理层讨论和分析中的“风险因素和不确定性”部分,该部分可在本公司的SEDAR简介www.SEDAR.com查阅。 近地天体交易所既没有批准也没有不批准这份新闻稿的内容。 投资者关系联系人: 泰勒·艾利森 [电子邮件受保护] 媒体联系: 朱丽叶·费尔兄弟 马蒂奥通信公司 [电子邮件受保护] 631.338.5343 本文由CFN Enterprises Inc.(OTCQB:CNFN)发表,该公司是CFN Media的所有者和运营商,CFN Media是行业领先的机构和数字金融媒体网络,致力于新兴的CBD和合法大麻行业。请致电+1(833)420-CNFN了解更多信息。