The “7-Eleven of marijuana” will be a publicly traded company beginning tomorrow
TILT, a multi-national cannabis company based out of Boston, MA, is going public. It has announced that, following a successful equity funding round that saw it attract $119 million, it is preparing to be listed on the Canadian Securities Exchange tomorrow. Additionally, the company is preparing to launch its first retail shop next January in Taunton.
According to Alex Coleman, Co-Chairman and CEO of TILT, “With TILT we are building a technology-driven infrastructure solution to maximize customer engagement and product delivery while also enabling industry participants to scale across new markets with these same systems. We intend to leverage the Business Combination and the net proceeds of the Offering to accelerate our growth across the cannabis industry with a pipeline of infrastructure expansions, acquisitions and partnerships.
“We are well-positioned to effectively and efficiently capitalize on the consolidation that is occurring across most markets in the industry with the goal of delivering the highest quality products and services where laws permit.”
TILT’s Taunton location is a medical marijuana dispensary called Commonwealth Alternative Care. Not only is the “7-Eleven” of marijuana looking to offer its own retail option – it has plans for two more stores in Cambridge and Brockton – but it also provides marketing, ordering and supply chains to other licensed facilities.
Coleman adds, “We’re seeing that cannabis in states that recreational is accessible, we’re seeing declining rates of both opioid addiction and alcohol consumption. And I think that’s a very healthy thing for the country at large.”