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TILT Holdings closes $50M acquisition of cannabis distributor Blackbird Holdings

TILT Holdings Inc. completed the acquisition of cannabis distribution company Blackbird Holdings Corp. for $50 million.

Blackbird supports more than 250 wholesale and retail cannabis operators in Nevada and California, according to a Jan. 16 news release.

Cambridge, Mass.-based TILT Holdings paid Blackbird Holdings $5 million in cash and issued 161,543 compressed shares worth $45 million. Each compressed share is convertible into 100 common shares and is valued at $278.48.

TILT Holdings, which provides software, infrastructure and capital support to cannabis retailers, recently closed an

" data-original-title="">acquisition of Jupiter Research LLC, a manufacturer of vaporization technologies, for $210 million.