TILT Holdings Inc. (NEO: TILT) (OTC: TLLTF) announced on Tuesday that its subsidiaries, SFNY Holdings Inc. and Standard Farms New York LLC have entered into a membership interest purchase agreement with CGSF Investments, LLC, a wholly owned subsidiary of PowerFund Holdings II LLC, pursuant to which CGSF acquired from SFNY all the membership interests in Standard Farms NY for $1.4 million.

Standard Farms NY holds a 75% interest in CGSF Group LLC, which was formed to establish vertical cannabis operations on the Shinnecock Nations aboriginal tribal territory in the Hamptons on Long Island, New York.

The cannabis project development firm Conor Green Consulting, LLC will continue to hold a minority interest in CGSF Group, the Phoenix-based company said.

Following the transaction, PowerFund Partners …

Full story available on Benzinga.com

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