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TILT Holdings Announces Closing of Further US$10.2M, as Previously Announced Shareholder Backed Financing is Oversubscribed
Further Capital Will Drive Development of Core Assets
CAMBRIDGE, Mass., Nov. 21, 2019 (GLOBE NEWSWIRE) — TILT Holdings Inc. (“TILT” or the “Company”) (CSE: TILT) (OTCQB: TLLTF), a foundational technologies cannabis platform comprised of assets to assistance brands worldwide, announced right now that it has closed an further private placement (the “Financing”) of US$10.two million of senior secured notes (the “Notes”) from a syndicate consisting of current shareholders and new investors, bringing to total quantity of the facility to US$35.8M, up from the previously announced maximum of US$35M.
On the heels of the announcement of our outstanding Third Quarter economic benefits and earnings contact yesterday, the closing of this further financing only additional illustrates the optimistic momentum TILT is experiencing as an organization and the developing self-assurance the investment neighborhood has in our refocused company program.
Mark Scatterday, Interim CEO
We program to use this further funding to propel our development into the new year and continue to invest into the operations of our core assets. The reality that the financing was oversubscribed only additional speaks to the optimistic sentiment big investors are feeling towards what we’re accomplishing at TILT.
This is the final closing of the previously announced financing involving the issuance of Notes, and the terms stay the identical as previously announced. In connection with the issuance of the Notes for the new US$10.2M raised, the Firm will also situation 1,800 widespread share acquire warrants (the “Warrants”) to the subscribers for each and every US$1,000 principal quantity of Notes subscribed, for a total aggregate of around 18,360,000 Warrants. Every single Warrant is exercisable for one particular widespread share of the Firm at a cost of C$.39 per widespread share for a period of 36 months from the closing date. The terms of the Financing described in this press release are set out in the applicable definitive documents, which have be filed on SEDAR and readily available at www.sedar.com. This press release shall not constitute an give to sell or the solicitation of an give to acquire nor shall there be any sale of the securities in any jurisdiction in which such give, solicitation or sale would be unlawful.
About TILT
TILT Holdings serves cannabis brands worldwide by way of a robust network of portfolio businesses committed to technological innovations that assistance lengthy-term results. TILT solutions much more than two,000 brands and cannabis retailers across 33 states in the U.S., as effectively as in Canada, Israel, Mexico, South America and the European Union. As a industry leader in cannabis technologies and associated items and solutions, the Company’s core assets incorporate wholly-owned subsidiaries Jupiter, a business that focuses on the vast possible of inhalation by way of revolutionary design and style, improvement and manufacturing Blackbird, a business that offers operations and computer software options for wholesale and retail distribution and Baker, a CRM platform assisting dispensaries develop their company. The Firm also owns cannabis operations in states like Massachusetts, led by Commonwealth Option Care, Inc. and in Pennsylvania, led by Typical Farms, LLC. Headquartered in Cambridge, Massachusetts, with offices all through the U.S., and London, TILT has more than 400 workers and has sales in the U.S., Canada and Europe. For much more information and facts, visit www.tiltholdings.com.
Get in touch with Information and facts:
Joel Milton
SVP of Small business Improvement
Telephone: (303) 872-7255
Media Get in touch with:
Cassandra Dowell
CMW Media
Telephone: 858-264-6600
Original press release
For reality-primarily based information and facts on TILT Holdings, view the company’s sponsored Investor Dashboard.
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Published by NCV Newswire
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