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 signed a second amendment (the “Amendment”) to its previously announced definitive agreement to sell its White Haven, Pennsylvania facility (the “Purchase Agreement”). 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.
Since its acquisition in January 2019, the Company has operated the White Haven facility, located at 411 Susquehanna Street, and comprised of an approximately 40,000 square-foot building that includes cultivation, processing, and a product manufacturing lab, as Standard Farms LLC. More information is available in the Company’s original press release, issued January 28, 2019.