CHICAGO and VANCOUVER, British Columbia, May 26, 2020 (GLOBE NEWSWIRE) — Green Thumb Industries Inc. (“Green Thumb”) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of Rise™ and Essence retail stores, today announced the expansion of its retail footprint in Illinois with the opening of Rise Niles, the company’s eighth store in Illinois and 45th in the nation, on May 28. This is the third adult-use only store Green Thumb has opened in Illinois this year. The company has opened a total of six stores across the country year-to-date.
Green Thumb’s retail footprint in Illinois includes seven additional locations across the state: Rise Canton, Rise Effingham, Rise Joliet, Rise Mundelein, Rise Quincy, 3C Joliet and 3C Naperville. All but 3C Naperville offer adult-use sales. The company also has manufacturing facilities in Rock Island and Oglesby where it produces its high-quality branded products including Dogwalkers, incredibles, Rythm and The Feel Collection.
“We are thrilled to open our eighth store in our home state of Illinois and look forward to being active community partners and good neighbors in Niles,” said Green Thumb Founder and Chief Executive Officer Ben Kovler. “Our team remains nimble, diligent, and committed to fulfilling our responsibility for a safe and successful adult-use program in Illinois. We have continued to move forward through the ongoing COVID-19 crisis to provide jobs and much needed access to well-being through the power of cannabis during these difficult times, as demonstrated by the opening of Rise Niles, our fourth opening since the crisis began. Our retail team has pivoted quickly and efficiently as regulations evolve and we are profoundly grateful for their dedication and service to our customers.”
In April, adult-use cannabis sales remained strong in Illinois and reached over $37 million, topping sales from the previous two months. The state has reported approximately $148 million in adult-use sales since January 1 when cannabis was legalized for adults 21 and over. Experts estimate the Illinois market potential is $2.5 billion after maturation.
Rise Niles will currently offer online pre-ordering for adults 21 and older. Orders may be made at www.risecannabis.com. Rise Niles is located at 9621 N. Milwaukee Avenue in Niles and will be open Monday through Saturday from 9 a.m. to 7 p.m. and Sunday from 9 a.m. to 6 p.m.
About Green Thumb Industries:
Green Thumb Industries Inc. (“Green Thumb”), a national cannabis consumer packaged goods company and retailer, promotes well-being through the power of cannabis while giving back to the communities in which they serve. Green Thumb manufactures and distributes a portfolio of branded cannabis products including Beboe, Dogwalkers, Dr. Solomon’s, incredibles, Rythm and The Feel Collection. The company also owns and operates rapidly growing national retail cannabis stores called Rise™ and Essence. Headquartered in Chicago, Illinois, Green Thumb has 13 manufacturing facilities, licenses for 96 retail locations and operations across 12 U.S. markets. Established in 2014, Green Thumb employs over 1,700 people and serves thousands of patients and customers each year. The company was named a Best Workplace 2018 by Crain’s Chicago Business and MG Retailer magazine in 2018 and 2019. 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.
|Investor Contact:||Media Contact|
|Jennifer Dooley||Linda Marsicano|
|Chief Strategy Officer||VP, Corporate Communications|
Source: Green Thumb Industries
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bf58127e-51c9-4550-ae52-38e11df5d50e