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CHICAGO and VANCOUVER, British Columbia, Aug. 23, 2019 (GLOBE NEWSWIRE) -- Green Thumb Industries Inc. (GTI) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of Rise™ and Essence retail stores, announced that it has been awarded a cultivation license by the Ohio Department of Commerce following an appeal. The cultivation operation will be located in Toledo as part of a processing and manufacturing facility that will also produce GTI’s branded product portfolio.
“We are grateful the Ohio Department of Commerce has awarded GTI the cultivation license we applied for in 2017 based on exemplary scores and look forward to further serving the people of Ohio as they seek relief with medical cannabis,” said GTI Founder and Chief Executive Officer Ben Kovler. “This win allows GTI to expand our brand portfolio in Ohio to include the cultivation of our award-winning genetics and supports the company’s strategic goal of distributing brands at scale.”
The cultivation license supports GTI’s processing facility currently under construction in Toledo and three Rise™ stores that opened earlier this year in Cleveland, Toledo and Lorain. Two additional Rise™ stores in Lakewood are on track to open later this year.
“This cultivation award will further enable GTI to produce and distribute their high-quality brands in the state while creating additional jobs in Toledo,” said Toledo Mayor Wade Kapszukiewicz. “This is another win for our city and the state of Ohio.”
Additional information about Ohio’s medical marijuana program including participation numbers, qualifying conditions and patient registration directions be found at www.medicalmarijuana.ohio.gov/
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, incredibles and Beboe, among others. The company also owns and operates rapidly growing national retail cannabis stores called Rise™ and Essence. Headquartered in Chicago, Illinois, GTI has 13 manufacturing facilities, licenses for 95 retail locations and operations across 12 U.S. markets. Established in 2014, GTI employs approximately 1,200 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.
Cautionary Note Regarding Forward-Looking Information
This press release contains statements which may 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. Forward-looking information is often identified by the words “may,” “would,” “could,” “should,” “will,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “expect,” or similar expressions and include information regarding the future direction and business objectives of GTI. The forward‐looking information in this news release is based upon the expectations, estimates, projections, assumptions and views of future events which management believes to be reasonable in the circumstances and expectations relating to general economic and market conditions. Any forward‐looking information speaks only as of the date on which it is made, and, except as required by law, GTI does not undertake any obligation to update or revise any forward‐looking information, whether as a result of new information, future events or otherwise. The forward‐looking information in this news release is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those express or implied. When considering these forward‐looking statements, readers should keep in mind the risk factors and other cautionary statements in GTI’s public filings with the applicable securities regulatory authorities on SEDAR at www.sedar.com, including the risk factors set out in GTI’s annual information form dated July 10, 2018.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy
of this release.
Chief Strategy Officer
VP, Corporate Communications
Source: Green Thumb Industries