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Source: Marijuana Moment As cannabis becomes more mainstream, companies in the pharmaceutical, consumer packaged-goods, alcohol, and tobacco spaces are going to want in, according to venture capitalists focused on the cannabis industry.
That could mean more capital for the cannabis industry, which is still being funded in large part by family offices and cannabis-focused venture-capitalist firms, because mainstream investors are reluctant to touch an industry selling a product that is still federally illegal.
Those investments might also lead to further normalization of the industry, which, in turn, could potentially create a push for more regulatory reform.
Insider talked to 14 top cannabis VCs who collectively invested $925.8 million into the industry in 2021 to ask them about what we should expect over the next year. Two of them told us that they predict a rise in mainstream companies making deals with cannabis businesses.
“We expect to see several high-profile strategic transactions from non-cannabis companies looking to enter the space,” Jason Wild, the president and chief investment officer of JW Asset Management, told Insider. The firm invested $22.5 million into private cannabis companies in 2021, across 11 deals.
Several others said they expected more institutional capital to turn to the cannabis industry as it becomes more mainstream.
Big tobacco and alcohol firms like Altria and Constellation Brands have already made large investments into cannabis, but so far their efforts have focused on companies that operate in Canada, where marijuana is legal under federal law.
Large consumer packaged-goods companies also invested in cannabis businesses as the industry was getting off the ground in Canada, but the adult-use market there failed to meet lofty expectations.
Cannabis investments were heavily focused on the US in 2021 In recent years, much of the funding in the space has turned to the US, where cannabis companies operate under a state-by-state framework — meaning that even if they are growing and selling marijuana in accordance with state regulations, they’re still operating illegally under federal law.
In 2021, US investments made up over 85% of the total $2.7 billion invested in cannabis start-ups globally. Legalization efforts have also ramped up, as voters in states like New Jersey, New York, and Arizona have supported legislation to legalize cannabis. Big brands like Amazon have also signaled support for federal cannabis legalization.
Gregory Heyman, a managing partner at Beehouse, told Insider that in 2022 he expects big companies from the pharmaceutical, consumer packaged-goods, alcohol, and tobacco industries to make strategic investments into “plant-touching” cannabis businesses, or companies that grow and sell cannabis directly.
Beehouse invested $30 million across five private cannabis businesses in 2021 and has over $300 million in assets under management.
Companies in these other industries “are losing market share to cannabis products that offer cheaper, better, safer, more specific, and healthier alternatives favored by first-time and longtime cannabis users across every demographic,” Heyman said.
He added that investments from mature industries would futher propel normalization and legalization and encourage other institutions and individuals to invest in the space.
TILT to Participate in Upcoming Investor Conferences 11/23/21 1:55 PM ET (GlobeNewswire)Print
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, announced that its executive team will participate at two upcoming investor conferences in December 2021:
For more information about the conferences or to schedule a one-on-one meeting with TILT management, please contact the Company's investor relations team at investors@tiltholdings.com.
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, 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.
Oh I beg to differ. 4 years ago right before Canada legalized the stuff, there were a lot of crap companies that exploded in price. Companies that never made a dime that would go on the become nothing in the long run.
I believe the same effect will happen when the US gets serious about legalization. The companies with staying power will be the ones with strong fundamentals. History will repeat itself to some extent.
I am jumping back into a few Cannabis stocks. It appears ALL of the names are WASHED OUT!
Tilray Canopy HEXO
There are a few that I will not touch because regardless of the company fundamentals, the stock WILL NOT MOVE! See TILT and CRESCO. Might as well put COLUMBIA in there too.
TILT announces historic partnership with Shinnecock Indian Nation of New York to develop vertical cannabis operations
TILT and the Shinnecock Nation will cooperatively build and operate cannabis cultivation, processing, dispensaries and consumption lounge facilities on Long Island
August 24, 2021
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.
TILT Receives Approval to Trade on the NEO Exchange
Tilt Holdings Mon, August 16, 2021, 4:00 AM
PHOENIX, Aug. 16, 2021 (GLOBE NEWSWIRE) -- TILT Holdings Inc. (“TILT" or the “Company”) (CSE: TILT) (OTCQX: TLLTF), a global provider of cannabis business solutions that include inhalation technologies, cultivation, manufacturing, processing, brand development and retail, today announced that it has received approval for the listing of its common shares on the NEO Exchange (“NEO”).
TILT’s common shares will begin trading in Canadian Dollars on the NEO on Tuesday, August 17 under the symbol TILT. The Company’s common shares will also continue to trade in U.S. Dollars on the OTCQX® Best Market. In conjunction with the new listing, TILT’s common shares are expected to be voluntarily delisted from the Canadian Securities Exchange (“CSE”) at the close of trading on Monday, August 16. No action is required from current shareholders.
“TILT made its public trading debut with the CSE in December 2018, and we are grateful for their partnership and support as well as the access and visibility they provided to our investors,” said Gary Santo, CEO of TILT Holdings. “As we look ahead, we believe the time is right to transfer our Canadian listing to the more senior NEO Exchange given the work we have completed to improve our corporate governance and financial reporting standards. Up-listing to the NEO should improve our access to capital by attracting a stronger institutional shareholder base that will benefit from less fragmented spreads and more effective trading controls. TILT is entering its next phase of growth, and we are proud to partner with NEO.”
The NEO is home to more than 160 corporate and ETF listings, and consistently facilitates close to 15% of all Canadian trading volume.
TILT Holdings Receives Four New Provisional Massachusetts Adult-Use Licenses in Addition to Final Medical Dispensary License for Brockton Location
Thu, August 12, 2021
Provisional licenses granted include two adult-use Marijuana Retail Establishments as well as expanded cultivation and product manufacturing
PHOENIX, Aug. 12, 2021 (GLOBE NEWSWIRE) -- TILT Holdings Inc. (“TILT or the “Company”) (CSE: TILT) (OTCQX: TLLTF), a global provider of business solutions to the cannabis industry that includes inhalation technologies, cultivation, manufacturing, processing, brand development and retail, today announced that the Massachusetts Cannabis Control Commission (“CCC” or the “Commission”) has granted TILT’s subsidiary, Commonwealth Alternative Care, Inc. (“CAC”), 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 CAC a final license for the sale of medical cannabis in Brockton.
“This has been a long journey for TILT and its shareholders,” said Gary Santo, CEO of TILT Holdings. “Our Taunton facility has been supplying cannabis retailers and medical marijuana patients in Massachusetts with premium cannabis products for nearly three years while we awaited approval of our remaining submitted license applications. Along the way, we expanded our cultivation capacity, partnered with some of the most recognizable brands in the industry and continued to expand our wholesale reach to be ready for this moment. 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.”
Located at 30 Mozzone Boulevard in Taunton, CAC’s recently expanded facility houses over 100,000 square feet of cultivation, manufacturing, and retail space with more than 50% of that space dedicated to cultivation. In addition to the medical licenses it currently operates under, earlier today CAC’s Taunton facility received three provisional adult-use licenses; Cultivation, Product Manufacturer and Retail Establishment.
CAC also received both a final Medical Dispensary and a provisional Retail Establishment license for its completely built out Brockton location, at 1090 W Chestnut Street. The Company will be hosting a job fair on-site and expects its newest location to open its doors for business in the weeks to come following final inspection by the CCC.
The ETF MJ just set a 6 month low. This is typical of the sector. Over the last 7 years or so. Runup, fall off, runup, fall off. Money can be made if you "roll" the sector.
TILT is a weird one like CRESCO. Good company, good numbers, but s**t stock performance.
Higher lows…building a base. This one has always been undervalued IMO. It will have its day. I’ve been in this since the reverse merger. The ship is as stable as can be at this point. Tilt has treated me well and I’m going to continue to hold. Great products, patents, great management, touching different parts of the industry. A great company and very safe investment IMO. More people should be aware.
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