Shinnecock Nation Will Open Tribally Owned Cannabis Dispensary This Fall
Portfolio Pulse from Jelena Martinovic
TILT Holdings Inc. (OTC:TLLTF) has announced that its subsidiaries, SFNY Holdings Inc. and Standard Farms New York LLC, have sold all membership interests in Standard Farms NY to CGSF Investments, LLC, a subsidiary of PowerFund Holdings II LLC, for $1.4 million. Standard Farms NY holds a 75% interest in CGSF Group LLC, which is establishing vertical cannabis operations on the Shinnecock Nations tribal territory in the Hamptons, New York. The Little Beach Harvest dispensary, nearing completion, is expected to open this autumn.
September 05, 2023 | 2:45 pm
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TILT Holdings has sold its interests in Standard Farms NY, which is involved in a cannabis operation in New York. This could potentially impact the company's future revenues.
The sale of TILT Holdings' interests in Standard Farms NY could potentially reduce the company's future revenues from the cannabis operation. However, the impact will depend on the company's strategy and how it plans to use the proceeds from the sale.
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