BOSTON, MA – December 13, 2018 – PRESS RELEASE – TILT Holdings Inc., a vertically-integrated infrastructure and technology platform for the cannabis industry, has announced its intended expansion into the European market. It has signed a letter of intent with Medical 420 (M420), a large-scale vertical cannabis company, to provide cannabis processing, logistical support and supply chain management to the European Union. By leveraging M420’s North Macedonian assets and wholesale materials, TILT intends to provide cannabis products to the entire European continent.
“We are very focused on expanding TILT’s broad technology and infrastructure product offerings into expanding cannabis markets like Europe, which also has a substantial addressable market” said Alex Coleman, CEO of TILT. “While we continue to expect the US cannabis market to expand the fastest as well as be the largest, we see substantial potential within the EU. Our partnership with M420 is further validation of TILT’s leadership in the industry and mission to deliver effective, comprehensive cannabis solutions to the entire globe.”
Consideration for the M420 joint venture consists of US$10 million in cash. The outside date for the closing of the deal is Feb. 15, 2019.
This joint venture comes on the heels of TILT’s announcement to officially begin trading on the Canadian Securities Exchange, and supports a series of moves to accelerate TILT’s goal of providing comprehensive operations and software solutions at each touchpoint in the supply chain. TILT also recently announced its acquisitions of Blackbird Holdings Corp. and Standard Farms LLC.
More information about the company’s other recent acquisitions and moves within the cannabis industry can be found here.
