A New York Native American tribe has partnered with a global cannabis business solutions provider to co-develop cannabis operations.
On Tuesday, August 24, TILT Holdings Inc. announced a partnership with the Shinnecock Indian Nation in Long Island to build and operate cannabis cultivation, processing, retail, and consumption lounge facilities.
Little Beach Harvest, the Shinnecock Nation’s cannabis business, was a sponsor of the recent Hamptons Cannabis Expo.
A Unique and Socially Equitable Cannabis Entity
TILT says that its cannabis industry expertise combined with the Shinnecock Nation’s historical understanding and use of plant medicine will be foundational in forming a truly unique and socially equitable partnership in the cannabis industry.
Shinnecock Nation member and Little Beach Harvest Managing Director Chenae Bullock says the partnership is exciting and a momentous opportunity.
“As the wealth gap in the U.S. has grown wider and wider, it is economic development opportunities like this that will help our tribe bridge the gap,” says Bullock. “Through our partnership with TILT, we will not only create dozens of jobs and jump start careers, but will also cultivate business relationships with other tribal business owners, generating growth for Indigenous communities.”
TILT says it will work closely with Little Beach Harvest, training, educating, and employing tribal and local community members to create economic growth for generations to come.
Shinnecock Nation Chairman Bryan Polite says the tribe has laid the groundwork to enter the state cannabis market.
“Over the past few years, we have been working diligently to ensure that the Shinnecock Nation will be a responsible and positive addition to the New York cannabis market,” says Polite. “We have been impressed by TILT’s commitment to building such an equitable partnership and believe that they bring the right kind of expertise at precisely the right time to help us become a leading operator in the emerging New York cannabis market.”
According to TILT, a subsidiary of the company has purchased 100 percent of Standard Farms New York, LLC’s Class A memberships.
The memberships will hold a 75 percent interest in a Conor Green joint venture for approximately $700,000 in stock and cash.
Up to $2.65 million is to be paid in additional shares, priced at the time of closing, and issued on milestone achievements like retail and wholesale sales commencement.
TILT will provide management services for Little Beach Harvest for facility development, planning, design, and approximately $18 million in capital expenditures for a fully vertical cannabis operation.
Project assets will include a 60,000 square-foot cultivation, processing, extraction, and packaging facility, an adjacent wellness lounge, and a two-story dispensary with a drive-through.
According to TILT, a cornerstone of the business will be Native preference in hiring and career development opportunities, and providing an economic engine for contractors, the community, and the local job market.
TILT CEO Gary Santo says the company is proud to work with the Shinnecock Nation to enter the cannabis industry.
“To date, Indigenous people have been largely excluded from the social equity conversation across the country,” says Santo. “This partnership—which is a true partnership in every sense—is a step forward in creating social equity for the Nation. We believe our expertise in cannabis operations along with Shinnecock’s thought-leadership and cultutral connection to plant medicine will deliver economic growth for the region, while cementing the Nation as a leader in cannabis operations among Indigenous communities.”