TILT In Massachusetts
TILT Holdings (TLLTF) announced today it will launch a cannabis product brand with its partner the Shinnecock Indian Nation, to introduce Little Beach Harvest’s ancestral plant medicine to Massachusetts. Joining the TILT brand partner portfolio is in addition to the Shinnecock Nation’s main collaborative effort with TILT: developing cannabis operations known by the same name, Little Beach Harvest, on sovereign Shinnecock Nation land in Southampton, NY. “Little Beach Harvest naturally fits in TILT’s brand partner portfolio, especially given the Shinnecock Nation’s ancestral medicinal cannabis connection. We have a purpose-driven opportunity to bring Indigenous cannabis onto the same stage as Highsman, Her Highness and Old Pal while also creating a positive impact for a community historically excluded from and by the cannabis market,” stated TILT’s Senior Vice President of Marketing and Communications, Amy Larson. “Introducing the Little Beach Harvest brand beyond New York to other northeast states increases awareness of the part Indigenous communities are playing in the cannabis industry.”
TerrAscend Reduces Debt.
TerrAscend Corp (TRSSF) announced yesterday that they refinanced the existing senior secured term loan of $55.0 million according to an amendment. The Amendment provides for a senior secured term loan with a principal amount of $25.0 million, plus incremental term loans of $30.0 million at the option of TerrAscend and subject to consent from the required lenders for an aggregate amount of $55.0 million. On November 29, 2022, the Borrowers repaid $55.0 million outstanding principal amount under the original MichiganLoan, using $30.0 million of cash on hand and $25.0 million through borrowing according to the Amendment. Chicago Atlantic Admin, LLC serves as administrative agent for the lenders under the Michigan Loan and as collateral agent for the secured parties there to. “We appreciate Chicago Atlantic’s flexibility in helping structure an optimal outcome for TerrAscend,”said Jason Wild, Executive Chairman of TerrAscend. “This refinancing exemplifies TerrAscend’sfocus on reducing expenses, including interest expense, while driving sales growth and continued positive cash flow from operations.”
Hedgeye Cannabis Call Replays.
- Cannabis Policy Speaker Call w/ Zander Abrams & JT Taylor: CLICK HERE
- November Monthly Industry Trends + Q&A Call: CLICK HERE
