Tilt Teams Ups With Last Prisoner Project, Amends White Haven Sale Agreement

TILT Holdings Inc. TLLTF TILT entered into partnership with Last Prisoner Project.

As part of the agreement that will roll out throughout the year, TILT and Last Prisoner Project will build strategic initiatives that engage across all subsidiaries - Commonwealth Alternative Care, Standard Farms and Jupiter Research - as well as within the communities they serve. “I believe that all legal cannabis operators have an obligation to correct the injustices made by prejudicial laws,” stated TILT CEO Gary Santo. “Cannabis has been largely decriminalized for several years now, and we need to do our part to help bring freedom to those disproportionately impacted over the past 40-years. The Last Prisoner Project works diligently to address the systemic issues behind cannabis inequality, and TILT shares a similar vision of rightful freedom and equity for all those that have been unjustly impacted by cannabis laws.”

The Last Prisoner Project is a network of cannabis industry leaders, policy and education experts, and social justice leaders dedicated to fostering restorative justice for those incarcerated for cannabis offenses. According to the organization’s website, tens of thousands of people remain incarcerated for cannabis—and that population is disproportionately people of color. Some of the projects conducted by the Last Prisoner Project include securing freedom for those incarcerated, working to expunge cannabis-related criminal records, and educating the public on the ongoing harms generated by the War on Drugs.

Second Amendment for White Haven Purchase and Sale Agreement

The company has signed a second amendment to its definitive agreement to sell its White Haven, Pennsylvania facility. The amendment allows TILT and Innovative Industrial Properties, Inc. IIPR to extend the end of the investigational period of the transaction contemplated to a date that is on or before September 30, 2022. The parties continue to await receipt of standard third-party diligence items that have taken longer than expected to obtain, including both complete title and environmental reports. Both parties believe that extending the diligence completion period to the end of September should provide more than sufficient time to receive all outstanding materials and complete the necessary paperwork allowing the transaction to close.

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