Last week, four major companies from the US and Canada merged to create the industry’s most comprehensive cannabis platform to date – Baker Technologies, Sea Hunter, Briteside and Sante Veritas Therapeutics have merged to form TILT Holdings Inc.
The multinational company is anticipated to make over $70 million in revenue by the end of 2018, and a whopping $200 million in revenue by the end of next year 2019. By leveraging its multiple specialty services TILT Holdings has become the one stop shop in cannabis tech, support and cultivation.
According to Alex Coleman, Manager of Sea Hunter Holdings, LLC.
“TILT will enable businesses the opportunity to interact, communicate and operate with a greater degree of efficiency with their patients and consumers”
The Breakdown:
Baker Technologies Inc. – Based in Denver, CO. Baker is a software company that features online ordering, customer loyalty, messaging and analytics to over 1,000 dispensaries in 24 states and Canada.
Briteside Holdings, LLC – Based in Bend, OR. Briteside aids in providing prefab modular cultivation units, home delivery and subscription based services; utilizing proprietary algorithms intended to increase yields/efficiencies and decreasing cost/time.
Sea Hunter – Based in Boston, MA. Sea Hunter is a large time investor for licensed growers, retailers in 3 states, and operates proprietary, vertical operations as well.
Sante Veritas Holdings Inc. (SVT) – Based in Powell River, BC. SVT is finishing development on a 40,000 sq ft indoor and administrative facility and awaiting licensing from the Access to Cannabis for Medical Purposes Regulations (ACMPR).
Alex Coleman (CEO of Sea Hunter) is the proposed CEO of TILT, along with him, Michael Orr the Executive Chairman of SVT will most likely act as co-chairmen of the company’s Board.
Baker CEO, Joel Milton will act as President of technology.
Robert Leidy of Sea Hunter will act as President of consumer relations.
Justin Junda of Briteside will act as Chief Strategy Officer.
Currently, TILT Holdings has the means to operate within 24 states due to the already approved licenses carried by Baker, Briteside and Sea Hunter. Collectively the four companies claim to have raised over $150 million in capital and securities, carrying a workforce of over 100 employees, that number is expected to grow 5x by 2019, as is the number of states the company operates in. The four companies are expected to be officially bound by Definitive Agreements by June 15th, 2018.
“Our Platform will allow us to get into new markets and grow at a lower cost in less time… The only variable is time.”
This marks a new age of Big Cannabis, where multi-million and multi-billion dollar companies are making fast and large scaled moves in order to position themselves strategically for the legalization of cannabis in countries across the globe. This maneuvering is reflected within the recent news of Canopy’s move to join the New York Stock Exchange, and the recent acquisition of MedReleaf by Aurora Cannabis earlier the same week. All signs point to a race to gain standing within the still nascent international cannabis market and shows how seriously stakeholders are considering cannabis as a lucrative opportunity.