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Cannabis company Tilt secures US$6.8M financing from PE firm Weston Capital

Tilt Holdings Inc., a Cambridge, Mass.-based cannabis technology company, secured a US$6.8 million financing from private equity firm Weston Capital Group.

An affiliate of Weston Capital bought 1,734,194 units of Tilt at C$5.25 each under the financing. Each unit consists of one common share of Palm Beach, Fla.-based Tilt and one common share purchase warrant.

The 12-month warrants are exercisable at C$5.25 per common share.

Meanwhile, New York and San Francisco-based Weston Capital also agreed to serve in an operating and advisory capacity to the cannabis company, in exchange for 2,724,694 warrants. The warrants are exercisable for a period of one year at C$5.25 per share.