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(OTCQX: TLLTF), a provider of business solutions to the global cannabis industry that includes inhalation technologies, cultivation, manufacturing, processing, brand development, distribution and retail, announced preliminary financial results and operational highlights for the fourth quarter ended December 31, 2020 (“Q4 2020”) and full year outlook for 2021. All financial information is unaudited and provided in U.S. dollars except where otherwise indicated.
Projected Preliminary Financial Highlights:
Q4 2020 revenue is projected to be between $42.2 million and $43.2 million, compared to Q3 2020 revenue of $40.4 million
Q4 2020 Adjusted EBITDA is projected to be between $2.6 million and $3.6 million, compared to Q3 2020 Adjusted EBITDA of $2.8 million
Pro-forma Q4 2020 revenue excluding the Company’s former subsidiary, Blackbird, is projected to be between $41.3 million and $42.3 million, compared to Q3 2020 pro-forma revenue of $39.1 million
Commonwealth Alternative Care will produce and sell Her Highness branded products in Massachusetts.
In an honor of Women’s History Month, Commonwealth Alternative Care will collaborate with Her Highness to introduce THC versions of some of its products to the Bay State this March. Those products include:
Last Prisoner Project Single Pre-Rolls (from whose sale 50% of proceeds are donated to support women imprisoned for minor cannabis charges);
Pleasure Oil;
TILT president Gary Santo praised the female-focused lifestyle cannabis company.
“Allison and Laura have done an amazing job destigmatizing cannabis for women and supporting women displaced by cannabis offenses while building one of the most powerful, female-forward cannabis brands in the world,” he said.
Earlier this month, the Commonwealth Dispensary Association (“
CDA”) filed a lawsuit against the
Cannabis Control Commission related to new delivery regulations that would benefit social equity and economic empowerment operators. Commonwealth Alternative Care (“
CAC”), a wholly owned subsidiary of
TILT”) and a member of the CDA, has been clear in expressing its concerns regarding the possibility of filing such a suit and is extremely disappointed in the CDA’s decision to pursue litigation.
TILT firmly believes that social equity operators can and must be a vital part of the cannabis ecosystem and while there is always room for improvement with newly drafted regulations, we do not think that engaging in litigation achieves any such improvement.