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CHICAGO, May 02, 2019 (GLOBE NEWSWIRE) -- Green Thumb Industries Inc. (GTI) (CSE: GTII) (OTCQX: GTBIF), expands its national cannabis retail concept Rise™ with the grand opening of Rise Lorain and Rise Toledo in Ohio on May 3 and May 6, respectively, marking 18 stores open nationwide with licenses for a total of 77 locations.
“We are honored to be the first company to open up access to medical marijuana in Toledo and Lorain and be so warmly welcomed into these communities,” said GTI Founder and Chief Executive Officer Ben Kovler. “Rise™ is focused on helping people exercise their right to wellness through meticulous customer care and a curated assortment of cannabis products that bring relief and improve the quality of daily life.”
Rise Toledo and Rise Lorain are the first of five retail stores that GTI will open in Ohio. Future stores include one Rise™ store slated for Cleveland and two in Lakewood.
“I’m thrilled to welcome Rise Toledo to our community and excited that patients will be able to access the medicine they need,” said Toledo Mayor Wade Kapszukiewicz. “GTI was also recently awarded a processing license which means they will be able to produce and distribute their high-quality brands in the state while creating additional jobs in Toledo. This is a true win for our city and the state of Ohio.”
Former Lorain County Commissioner Ted Kalo stated: "I am proud of the fact that after many years of working on the issue of medical marijuana access along with the outcry from patients suffering from debilitating diseases, such as cancer, epilepsy and our veterans with PTSD, patients can now legally purchase cannabis to improve their quality of life and meet their medical needs at Rise™.”
More than 24,000 patients have completed the registration process for medical marijuana treatment since the registry opened in December of 2018. In an analysis conducted in July 2018, more than 3.5 million Ohioans have qualifying medical conditions. Estimates expect nearly 200,000 to 300,000 patients will eventually participate in the Ohio medical marijuana program. Those interested in the state’s medical marijuana program can visit https://www.medicalmarijuana.ohio.gov/.
Rise Toledo is located at 3157 W. Sylvania Avenue in Toledo. Rise Lorain is located at 1920 Cooper Foster Park Road in Lorain. Hours for both locations are 10 a.m. to 7 p.m., Monday through Saturday and 12 p.m. to 5 p.m. on Sunday.
About Green Thumb Industries:
Green Thumb Industries (GTI), a national cannabis consumer packaged goods company and retailer, is dedicated to providing dignified access to cannabis while giving back to the communities in which they serve. GTI manufactures and distributes a portfolio of branded cannabis products including Rythm, Dogwalkers, The Feel Collection, and Beboe, among others. The company also owns and operates a rapidly growing national chain of retail cannabis stores called Rise™. Headquartered in Chicago, Illinois, GTI has 11 manufacturing facilities, licenses for 77 retail locations and operations across 12 U.S. markets. Established in 2014, GTI employs approximately 650 people and serves thousands of patients and customers each year. GTI was named a Best Workplace 2018 by Crain’s Chicago Business. More information is available at GTIgrows.com.
|Investor Contact:||Media Contact:|
|Jennifer Dooley||Linda Marsicano|
|Chief Strategy Officer||VP, Corporate Communications|
Cautionary Note Regarding Forward-Looking Information
This press release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of GTI with respect to future business activities.
Investors are cautioned that forward-looking information is not based on historical facts but instead reflect GTI management’s expectations, estimates or projections concerning the business of GTI future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although GTI believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the combined company. In connection with the forward-looking information and statements contained in this press release, GTI has made certain assumptions, including assumptions related to: the ability to build out the location and the ability to obtain local zoning variances and approvals. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; and compliance with extensive government regulation; together with the risk factors outlined by the company in its annual information form dated July 10, 2018 along with the risk factors outlined in the most recently filed MD&A of the company filed on SEDAR from time to time.
This forward-looking information may be affected by risks and uncertainties in the business of GTI and market conditions. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although GTI has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. GTI does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
Source: Green Thumb Industries
A photo accompanying this announcement is available at: http://www.globenewswire.com/NewsRoom/AttachmentNg/fffc53ed-27d0-4a55-9e31-1f9df9f37b48