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, has entered into amendments to the senior secured promissory notes held by certain senior debt noteholders totaling US $9.6 million to extend the maturity date from November 14, 2022 to December 31, 2022.
“Today’s announcement extends the maturity date of the senior notes currently outstanding until the end of December, aligning them with the previously announced extension of IIPR’s terms for the sale and leaseback of our White Haven facility,” said Gary Santo, chief executive officer. “As we look to refinance these notes as well as our junior notes maturing in April 2023, I am pleased to say that through a series of on-going discussions with new and existing investors, we have reached an agreement in principle for a new debt arrangement that, when signed and closed, is expected to replace our entire legacy debt structure. The Company expects to enter into a definitive agreement and close by the end of the year.”
Santo added, “Despite challenging sector and macroeconomic conditions, the interest and support received from these investors, together with our business partnership with the team at IIPR, has been humbling and underscores their confidence in our business.”
