PHOENIX, Nov. 15, 2022 (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 that its subsidiary Jupiter Research, LLC ("Jupiter"), a leading inhalation technology company, will launch a proprietary initiative called Concept LVT, a first-of-its-kind, patent-pending rig-less dab solution that is an affordable, easy and clean way to experience cannabis concentrates.
Concept LVT is an advanced vaporizer that looks and feels like a regular 510 vape cartridge, but operates like a more powerful desktop vaporizer. Consumers will receive a reusable master cartridge paired with small, pre-filled crucibles containing 0.2 grams of vaporizable product, removing the manual and often messy experience of loading product at home. Its new heating technology provides consumers with more intense flavor from the cannabinoids and terpenes associated with concentrates in an on-the-go rosin consumption format. Additionally, it works with any 510-thread battery.
“Innovation sets Jupiter apart in today’s crowded marketplace. We are continually creating newer, better and more efficient inhalation technologies that are in alignment with buyer trends and future needs,” stated Gary Santo, TILT chief executive officer. “Concept LVT is a testament to Jupiter’s in-house R&D capabilities to lead technology advancements, as well as connect with the market’s demand for concentrate solutions. We know consumers will appreciate its simple, affordable and robust design and look forward to adding additional wax and hash capabilities in the future.”
Previewed at Jupiter’s MJBizCon booth, #9415, Concept LVT is anticipated to launch in market in early 2023. The timing will connect with intense market demand of concentrates, which is estimated to hit $8 billion in retail sales this year, outpacing growth in traditional flower sales, according to BDSA. Beyond setting clients up with key differentiating technology, businesses will be able to customize their Concept LVT with a variety of mouthpiece shapes, including tapered, barrel and hourglass in customizable colors; screen printing on the reservoir; printing and/or laser engraving on the metal base; and brand colors in the interior.
To keep up-to-date, follow TILT and Jupiter Research on social media or contact us to be added to our email list at www.jupiterresearch.com/contact:
- Instagram: @tiltholdings @jupiterresearch
- Twitter: @TILT_Holdings @we_are_jupiter
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 in regulated markets across 37 states in the U.S., as well as Canada, Israel, 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.
Forward-Looking Information
This news release contains forward-looking information and statements (together, “forward-looking information”) under applicable Canadian and U.S. securities laws which are based on current expectations. Forward-looking information is provided for the purpose of presenting information about TILT 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, anticipated timing for launch of Concept LVT, expected features of Concept LVT, projected market demand and retail sales of concentrates, 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”, “will”, “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 risk 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 information. Such risk factors include, but are not limited to, those described under the heading “Risk Factors” in Amendment No. 2 to the Form 10 Registration Statement filed by TILT with the United States Securities and Exchange Commission and on SEDAR at www.sedar.com.
Company Contact: Lynn Ricci, VP of Investor Relations & Corporate Communications TILT Holdings Inc. lricci@tiltholdings.com Investor Relations Contact: Sean Mansouri, CFA Elevate IR TILT@elevate-ir.com 720.330.2829 Media Contact: Leland Radovanovic Trailblaze on behalf of TILT Holdings TILT@trailblaze.co
