Mr. Joel Milton reports
TILT HOLDINGS COMMENTS ON ONGOING VAPING ISSUES AND TEMPORARY VAPE BAN IN MASSACHUSETTS
Tilt Holdings Inc.
has released the following statement today from the company's interim chief executive officer, Mark Scatterday, regarding recent media coverage of vaping issues and a temporary vape ban in Massachusetts.
"While the four-month ban on vape products in Massachusetts means we will not be selling Jupiter Research LLC products in that market, the state represents less than 2 per cent of Jupiter's overall annual revenue according to internal company data. We understand some of our investors' concerns, however, it should have little to no impact on Jupiter's revenue or growth in the short term.
"In addition, we do not expect the ban on vape products to have a material impact on the revenue of Tilt subsidiary Commonwealth Alternative Care. We are fortunate to have numerous products in that market that we make available to consumers both through our wholesale sales efforts and in our own dispensary. We will focus on these product lines for the next four months.
"In the long term, we believe this is an opportunity for regulatory bodies to eliminate many of the unsafe products on the market in Massachusetts. We are confident Jupiter's high-quality products and safety measures position us as category leaders and will ultimately allow us to capture market share in the state when the ban lifts.
"Jupiter is committed to aiding any governing bodies as needed. Even while legislative requirements did not fully exist, we pro-actively tested and will continue to test each component we produce. Consumer safety and product satisfaction is, and will always be, our guiding principle."
To see further commentary from Tilt regarding vaping, please reference "Tilt Releases Shareholder Letter from Interim CEO" released on Sept. 11, 2019.
About Tilt Holdings Inc.
Tilt Holdings serves cannabis brands worldwide through a strong network of portfolio companies committed to technological innovations that support long-term success. Tilt services more than 2,000 brands and cannabis retailers across 33 states in the United States, as well as in Canada, Israel, Mexico, South America and the European Union.
We seek Safe Harbor.
© 2022 Canjex Publishing Ltd. All rights reserved.