Press release

TILT Announces Mark Scatterday as Interim CEO

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TILT Holdings Inc. (“TILT” or the “Company”) (CSE:TILT) (OTCQB:SVVTF), a
leading business to business company in the cannabis industry, today
announced the appointment of Mark Scatterday to the position of interim
Chief Executive Officer of TILT, effective immediately. The board of
directors of TILT (the “Board”) has formed a committee which is in the
process of retaining an executive search firm for the purpose of
identifying a long-term CEO candidate to lead the Company through its
next growth phase. Alex Coleman, the Company’s former CEO, has stepped
down and will remain as Chairman of the Board and continue to focus on
corporate development and strategy including possibly a separate public
listing in the US for qualifying assets, partnership or joint ventures.

“The plan has always been to identify a CEO with strong operational
experience to replace me as soon as it made sense for the Company,” said
Mr. Coleman. “With the completion of our four-way merger, public listing
on the CSE and several subsequent acquisitions, it is an ideal time to
make this change. Mark is a fantastic operator and exactly the person we
need to transition this company to its next phase as we conduct this
search. The Board will be looking for a permanent CEO who has proven
success as a public company executive and who can utilize operational
talent like Mark to best position TILT for future growth.”

Mr. Scatterday is a lifelong entrepreneur and operator, having built a
number of successful businesses. Most recently, he was the founder and
CEO of Jupiter Research, a leading provider of vaporization and
inhalation devices for the cannabis industry, which is now a
wholly-owned subsidiary of TILT. Through the Jupiter acquisition, Mr.
Scatterday is currently TILT’s largest shareholder. He is currently, and
will remain, a member of the Board, and is committed to his new role.

“There is a tremendous opportunity right now at TILT in that we are
currently one of the largest revenue generating, U.S.-based, publicly
listed cannabis companies, yet we need to do a better job of
communicating our progress to the market,” said Mr. Scatterday. “My goal
over the next 90 days is to help TILT focus its resources on the areas
of the business that can drive growth and stability, while communicating
a refined, focused strategy throughout the company, as well as
externally to the market. Collectively we have one of the broadest
reaches in the cannabis industry when considering the breadth of
products and services the Company offers. The opportunity is now to help
the market understand the vision for how these businesses work
synergistically together. I’m enthusiastic about my new role and look
forward to sharing regular updates with our shareholders and the
investment community.”

About TILT

TILT is a leading provider of products and services to businesses
operating in the cannabis industry. The Company offers the contract
manufacturing of marijuana in a variety of form factors, vaporizer and
inhalation devices, business and consumer delivery services and a broad
suite of software products for over 1,500 retailers and brands
throughout the United States (“U.S.”), Canada and Europe. The majority
of TILT’s products are customized to client specifications and branding,
all enabling them to operate their businesses more efficiently and
connect with their customers more effectively. The Company is organized
in two main business units, Software & Services and Consumer Devices &
Packaged Goods, designed to augment competencies across the organization
in research, manufacturing, packaging and technology to deliver
end-to-end services and customer solutions. All of TILT’s products are
supported by an extensive research process led by scientists and
engineers, who use data analytics and discovery to produce new products,
helping shape the industry. Headquartered in Cambridge, MA, with offices
throughout the U.S., Toronto and London, TILT has over 500 employees and
has sales in 40 U.S. states, Canada and Europe. For more information,
please visit

Forward-Looking Information

This news release contains forward-looking information based on current
expectations. Forward-looking information is provided for the purpose of
presenting information about management’s current expectations and plans
relating to the future and readers are cautioned that such statements
may not be appropriate for other purposes. Forward-looking information
may include, without limitation, the opinions or beliefs of management,
prospects, opportunities, priorities, targets, goals, ongoing
objectives, milestones, strategies and outlooks for TILT, and includes
statements about, among other things, future developments, future
operations, strengths, and strategies of TILT. Generally,
forward-looking information can be identified by the use of
forward-looking terminology such as “plans”, “expects” or “does not
expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”,
“intends”, “anticipates” or “does not anticipate”, or “believes”, or
variations of such words and phrases, or statements that certain
actions, events or results “may”, “could”, “would”, “might” or “will be
taken”, “occur” or “be achieved”. These statements should not be read as
guarantees of future performance or results. These statements are based
upon certain material factors, assumptions and analyses that were
applied in drawing a conclusion or making a forecast or projection,
including TILT’s experience and perceptions of historical trends,
current conditions and expected future developments, as well as other
factors that are believed to be reasonable in the circumstances.

Although such statements are based on management’s reasonable
assumptions at the date such statements are made, there can be no
assurance that they can be completed on the terms described above, or
that such forward-looking information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such forward-looking information. Accordingly, readers
should not place undue reliance on the forward-looking information. TILT
assumes no responsibility to update or revise forward-looking
information to reflect new events or circumstances unless required by
applicable law.

By its nature, forward-looking information is subject to risks and
uncertainties, and there are a variety of material factors, many of
which are beyond the control of TILT, that may cause actual outcomes to
differ materially from those discussed in the forward-looking statements.

The CSE has neither approved nor disapproved the contents of this news