TILT Holdings Receives Default Discover from Revolutionary Industrial Properties

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PHOENIX, April 03, 2025 (GLOBE NEWSWIRE) — TILT Holdings Inc. (“TILT” or the “Firm”) (Cboe CA:TILT) (OTCQB: TLLTF), a worldwide supplier of hashish enterprise options that embody inhalation applied sciences, cultivation, manufacturing, processing, model growth and retail, acknowledges receipt of default notices from Revolutionary Industrial Properties (“IIP”), particularly IIP’s subsidiaries IIP-PA 9 LLC and IIP-MA 8 LLC, after market on March 28, 2025.

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IIP declared TILT in default on two properties positioned at 411 Susquehanna Avenue, White Haven, PA, and 30 Mozzone Avenue, Taunton, MA. These notices had been issued attributable to excellent rental funds and different monetary obligations below the respective leases.

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White Haven, PA Property
The discover for the White Haven property indicated that Commonplace Farms LLC, a subsidiary of the Firm, owes a complete of $1,130,592.57, which incorporates base lease, extra lease, and replenishment of the safety deposit. The owner expressed its intent to terminate the lease and pursue authorized proceedings if the defaults weren’t cured by April 4, 2025.

Taunton, MA Property
Equally, the discover for the Taunton property said that Commonwealth Different Care, Inc., one other subsidiary of the Firm, owes a complete of $2,996,786.42, which incorporates base lease, extra lease, late prices, curiosity, and replenishment of the safety deposit. The owner additionally indicated its intent to terminate the lease and search damages if the defaults weren’t remedied by April 4, 2025.

Following receipt of the notices described above, TILT engaged in negotiations with the owner to remedy the defaults and has already made funds in satisfaction of the April lease obligations and in change for forbearance from pursuing termination and eviction, which IIP accepted. The Firm is dedicated to negotiating in good religion to resolve the excellent quantities and safe favorable phrases for its operations.

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About TILT
TILT Holdings manages a various portfolio of corporations within the hashish business, encompassing know-how, {hardware}, cultivation, and manufacturing. Its core enterprise, Jupiter Analysis LLC, is an entirely owned subsidiary and a worldwide distribution chief within the vaporization phase. Jupiter is devoted to {hardware} design, analysis, growth, and distribution to assist hashish manufacturers and retailers throughout the USA, Canada, South America, and the European Union. Moreover, TILT is a multi-state operator, with cultivation and manufacturing services in three states below the Commonwealth Different Care and Commonplace Farms manufacturers. For extra info, go to www.tiltholdings.com.

Ahead-Trying Data
This information launch comprises forward-looking info and statements (collectively, “forward-looking info”) below relevant Canadian and U.S. securities legal guidelines that are primarily based on present expectations. Ahead-looking info is offered for the aim of presenting details about TILT administration’s present expectations and plans referring to the longer term and readers are cautioned that such statements is probably not acceptable for different functions. Ahead-looking info could embody, with out limitation, expressions that concern the Firm’s receipt of notices of default below sure leases, its capacity to proceed to function the enterprise, the Firm’s capacity to make continued rental funds, the curing of the defaults, the securing of favorable phrases and the power of the Firm to mitigate the affect of the defaults, prospects, alternatives, priorities, targets, objectives, ongoing targets, milestones, methods, and outlook of TILT, and consists of statements about, amongst different issues, future developments, the longer term operations, strengths and technique of TILT. Usually, forward-looking info will be recognized by way of forward-looking terminology reminiscent of “plans”, “expects” or “doesn’t count on”, “is predicted”, “will”, “finances”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “doesn’t anticipate”, or “believes”, or variations of such phrases and phrases or state that sure actions, occasions or outcomes “could”, “may”, “would”, “may” or “might be taken”, “happen” or “be achieved”. These statements shouldn’t be learn as ensures of future efficiency or outcomes. These statements are primarily based upon sure materials elements, assumptions and analyses that had been utilized in drawing a conclusion or making a forecast or projection, together with TILT’s expertise and perceptions of historic tendencies, the power of TILT to maximise shareholder worth, present situations and anticipated future developments, in addition to different elements which can be believed to be affordable within the circumstances.

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Though such statements are primarily based on administration’s affordable assumptions on the date such statements are made, there will be no assurance that such forward-looking info will show to be correct, as precise outcomes and future occasions may differ materially from these anticipated in such forward-looking info. Accordingly, readers shouldn’t place undue reliance on the forward-looking info. TILT assumes no duty to replace or revise forward-looking info to mirror new occasions or circumstances until required by relevant regulation.

By its nature, forward-looking info is topic to dangers and uncertainties, and there are a number of threat elements, lots of that are past the management of TILT, and which will trigger precise outcomes to vary materially from these mentioned within the forward-looking info. Such threat elements embody, however usually are not restricted to, TILT’s capacity to discover a everlasting successor govt, the affect of the announcement of the management change on TILT’s inventory, efficiency, operations, outcomes of operations, staff, suppliers and prospects, TILT’s capacity to efficiently work via the management transition, TILT’s capacity to execute on its enterprise optimization technique, capital preservation and money era, and reductions in company overhead and headcount and re-alignment of its enterprise and people dangers described below the heading “Merchandise 1A Threat Elements” within the Annual Report on Type 10-Okay for the fiscal 12 months ended December 31, 2023 and “Merchandise 1A Threat Elements” within the Quarterly Report on Type 10-Q for the quarter ended September 30, 2024 and different subsequent reviews filed by TILT with the USA Securities and Change Fee at www.sec.gov and on SEDAR+ at www.sedarplus.ca.

Firm Contact:
Lynn Ricci, VP of Investor Relations & Company Communications
TILT Holdings Inc.
lricci@tiltholdings.com

Investor Relations Contact:
Sean Mansouri, CFA
Elevate IR
TILT@elevate-ir.com
720-330-2829

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