Massachusetts-headquartered Tilt Holdings and the Long Island, New York-based Shinnecock Indian Nation are teaming up to form a vertically-integrated cannabis company.

According to an official news release confirming the joint business venture, cannabis technology firm Tilt plans to build and finance the operation, as well as provide a broad scope of management services.

The Shinnecock Indian Nation’s cannabis project development firm, Conor Green, will also be involved in the vertically-integrated cannabis company’s formation.

All of Standard Farms New York’s “Class A units” were purchased by a Tilt subsidiary, meaning that the subsidiary will maintain a 75 percent interest in the Conor Green business partnership.

This isn’t the first time that tribal nations have made the cannabis industry news headlines. Numerous Native American communities in New York are getting involved in the cannabis sector. A prime example is the St. Regis Mohawk Tribe, which went down in history as the first tribe in the state to legalize recreational cannabis on June 28.

Joint cannabis company venture to be named “Little Beach Harvest”

Once the vertically-integrated cannabis company is officially formed, it will be known as “Little Beach Harvest.” The business will be wholly owned by the Shinnecock Nation and will be constructed on territory in the Hamptons.

Through providing management services, Tilt hopes to make a serious contribution towards the development of Little Beach Harvest’s facilities, such as company design and planning. As much as $18 million in capital expenditures will be funneled into the business.

The Tilt subsidiary forked out around $700,000 worth of cash and stock. On top of that, a Forbes report noted that “up to $2.65 million will be paid in additional shares priced at the time of closing, contingent upon certain milestones, like commencement of retail and wholesale cannabis sales.”

About Tilt Holdings 

Headquartered in Phoenix, Arizona, Tilt identifies as a vertically-integrated technology and infrastructure company that specializes in providing the cannabis industry with various products and services. 

Retailers, consumers and wholesalers across four states are privileged to receive same-day delivery from the acclaimed firm, which handles customer orders in the U.S., Canada, Puerto Rico and Jamaica.

Tilt has consistently upheld its reputation as a growing company — something that the firm’s financial results for the second quarter of 2021 demonstrated. Based on an official financial report, Q2 revenue was up 33 percent year-over-year (YoY) to $48.5 million. Record Q2 adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) was up 2.7x to $6.5 million.

“We generated another quarter of record  results by continuing to execute  our B2B strategy and driving  synergies across our business segments,” said the company’s CEO, Gary Santo. “Our ability  to cross-sell and deepen relationships  with our 700+ customer base is materializing in the numbers. In fact, at the end of last year,  20 percent of  our  revenue was  generated  by our  customers  leveraging services across our cannabis inhalation  and accessory businesses. By the  end of Q2, that number increased to over 30 percent, which tells us that our strategy  is working.”

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