TILT Holdings Inc. TILT TLLTF announced Friday that the Massachusetts Cannabis Control Commission has awarded the final adult-use cultivation, manufacturing and retail establishment license to its subsidiary Commonwealth Alternative Care, Inc. for the Taunton location, which has been operating since August 2018.
The facility includes a 100,000 square-foot cultivation and processing facility as well as a co-located dispensary.
Tilt, located in Phoenix, said that retail and wholesale sales of adult-use cannabis will commence at 30 Mozzone Boulevard in Taunton upon final inspection by the CCC.
CAC produces and sells a wide range of flower, concentrate, edible and topical products for patients, customers and industry partners throughout the state.
"Receiving the adult-use licenses for our Taunton location on the heels of obtaining final approval to commence adult-use operations at Brockton are key pieces to unlocking exponential growth in Massachusetts," Gary Santo, CEO of TILT said. "The activation of these licenses represents a significant turning point for TILT, providing our wholesale and brand partners greater visibility and access into the market and delivering shareholder value."
The move comes on the heels of the CCC's final approval for adult-use sales at CAC's Brockton location.
The Brockton store, which recently began serving medical patients, is CAC's first adult-use dispensary, and it will commence sales of recreational cannabis on Monday, Nov. 22.
Combined, the two dispensaries serve more than 8,000 medical patients in the greater Boston area.
The adult-use celebration will take place on Saturday, Dec. 4, at CAC Brockton, located at 1090 W. Chestnut Street.
More recent news from TILT:
- TILT Holdings Reports Record Quarterly Revenue Of $53.4M, Up 37% YoY; Revises Adjusted EBITDA Guidance
- TILT To Distribute AIRO Select Products In Massachusetts Via Expanded Partnership With Cannabis Inhalation Brand
- TILT Dumps Inactive Subsidiary Sante Veritas For $728,000 In Cash, Will Focus On 'Core Businesses'
- TILT Holdings CEO Explains What Makes Its Business Model Unique Among East Coast Cannabis MSOs
TLLTF Price Action
TILT's shares traded 5.12% lower at $0.3150 per share at the market close on Thursday.
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