Third amendment signed for purchase agreement of 40,000 sq ft Pennsylvania facility

TILT Holdings has signed a third amendment to its previously announced definitive agreement with Innovative Industrial Properties (“IIPR”) to sell and lease back its White Haven, Pennsylvania facility. The Amendment allows TILT and IIPR to extend the end of the investigational period of the transaction contemplated to a date that is on or before November 1, 2022. The parties are extending the investigational period to accommodate second-round testing to satisfy requests from the Pennsylvania Department of Environmental Protection. Both parties believe that extending the investigational period should provide sufficient time to resolve all outstanding issues 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.