TILT Holdings Inc (TLLTF): What the hell - Tilt's settlement in...

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TILT Holdings Inc (TLLTF)

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Wednesday, 06/23/2021 9:55:07 AM

Wednesday, June 23, 2021 9:55:07 AM

What the hell - Tilt's settlement involved allegations that the company’s former parent, Sea Hunter Therapeutics, had used subsidiaries to manage five medical cannabis treatment centers, although it was allowed to control only three. This happened between 2016 and 2018.

Tilt, based in Arizona, recognized responsibility for this.

“We worked diligently with the Cannabis Control Commission to resolve the investigation that has stalled our remaining state licenses for the past two years. We appreciate the time, effort, and professionalism afforded to TILT by the CCC staff and are thrilled to have come to an amicable resolution with the Commission,” Tilt's CEO Gary Santo stated.

He added that the finalization of the investigation “marks the turning of a page for Tilt,” as the company plans to complete its licensing process and expand its retail outreach in Massachusetts, by opening two new dispensaries.

The company agreed to pay a $275,000 fine to the CCC Marijuana Regulation Fund.

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Form 8-K - Current report • Edgar (US Regulatory) • 06/12/2024 08:15:16 PM
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