Kanabo Now the First Medical Cannabis IPO to Be Listed on the LSE
PHOENIX, Feb. 16, 2021 (GLOBE NEWSWIRE) — TILT Holdings Inc. (“TILT” or the “Company”) (CSE: TILT) (OTCQX: TLLTF), a provider of business solutions to the global cannabis industry that includes inhalation technologies, cultivation, manufacturing, processing, brand development and retail, issued the statement below congratulating its partner, Israeli-based Kanabo Group PLC (“Kanabo”), on being the first medical cannabis initial public offering (IPO) to commence trading on the London Stock Exchange under the ticker symbol KNB.
“We congratulate our partner, Kanabo, on being the first medical cannabis IPO to commence trading on the London Stock Exchange,” said Mark Scatterday, CEO of TILT and Founder of Jupiter. “At a time when the European cannabis and CBD marketplace is well-positioned for significant growth and is gaining momentum, Kanabo’s LSE listing is a real milestone that will broaden access to capital and a wider institutional and retail shareholder base in the EU, which will only benefit our partnerships’ growth in Europe. Our partnership with Kanabo, together with our previously announced ISO certification, reaffirms Jupiter’s commitment to finding medical applications for inhalation. We look forward to working with the team at Kanabo to set a new standard for medically certified inhalation devices, as well as unlocking our growth in the EU’s emerging cannabis market.”
TILT previously announced the expansion of its partnership with Kanabo to include registering its first medical device for sale in Europe via an audit under the Medical Devices Directive (“MDD”). The MDD is a European Union (“EU”) directive outlining standards manufacturers and importers must meet to legally market or sell their devices in the EU.
About TILT Holdings Inc.
TILT Holdings Inc. (“TILT” or the “Company”) (CSE: TILT) (OTCQX: TLLTF) helps cannabis businesses build brands. Through a portfolio of companies providing technology, hardware, cultivation and production, TILT services brands and cannabis retailers across 35 states in the U.S., Canada, Israel, Mexico, South America and the European Union. TILT’s core businesses include: Jupiter, 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 and Standard Farms, LLC in Pennsylvania. TILT is headquartered in Phoenix, Arizona. For more information, visit www.tiltholdings.com.
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, receiving approval from the MDD to sell inhalation devices in the European market, 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 September 30, 2020, which is available on the Company’s SEDAR profile at www.sedar.com.
The CSE has neither approved nor disapproved the contents of this news release.
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Source: TILT Holdings Inc.
Released February 16, 2021