As minority entrepreneurs seeking to gain a greater foothold in the cannabis space gain increased visibility, a number of companies are directly addressing the issue of social equity in states that have enacted legalization measures.
Today business-to-business company TILT Holdings (CSE: TILT; OTCQB: TLLTF) announced that subsidiary Blackbird is officially launching the Blackbird Social Equity Program.
That imitative will offer discounted rates to applicants looking to use software solutions to get their licensed businesses up and running. In particular, the program aims to assist cannabis entrepreneurs in conducting business while maintaining compliance with regulations that can vary wildly between states and local municipalities.
Blackbird and TILT stated the program is needed as prohibition frequently impacted black and latino communities to a greater degree than predominately caucasian areas.
Citing the disproportionate ratio of white cannabis business owners to blacks serving prison sentences for unlicensed cannabis offenses prior to legalization, Blackbird’s equity outreach manager Jamal Barghouti commented:
TILT’s software-focused subsidiary isn’t the only company to start such a program in recent months, with Green Thumb Industries (CSE: GTII; OTCQX: GTII) launching its own Social Equity License Application Assistance Program aimed at disadvantaged cannabis startups in Illinois.
In other TILT news, the company changed from the previous SVVTF ticker symbol on the OTC Markets to the new symbol TLLTF earlier this month. That changed arrived after TILT announced a partnership with CMW Media aimed at increasing the company’s worldwide name recognition.
TILT also recently celebrated the milestone of representing 2,000 brands through its three subsidiaries as the company finalized integrating the customer relationship management program offered by Baker Technologies into the Blackbird inventory management software.
Despite those major announcements from its subsidiaries, TILT’s stock has maintained a downward trajectory since January, currently trading at $0.28 a share as of Wednesday morning, which is less than half the price it commanded back in June.