Beboe Elevates New York’s Cannabis Scene with Premium, Socially-Dosed Edible and Vape Offerings

Rhea-AI Summary

Green Thumb Industries (CSE: GTII) (OTCQX: GTBIF) has announced the expansion of its luxury cannabis brand, Beboe, into the New York market. Beboe's socially-dosed cannabis products are now available at all RISE Dispensaries across New York and select licensed retail partners. The brand, founded by Scott Campbell, aims to provide a sophisticated cannabis experience and has been dubbed the "Hermès of marijuana" by The New York Times.

Beboe's product line in New York includes sleek vapes and artfully blended edibles, with plans to introduce more products in Fall 2024. Green Thumb operates four RISE Dispensaries in New York, with a fifth location set to open in East Syracuse. The company cultivates and produces all its New York products, including Beboe, at its Hudson Valley facility in Warwick. Following the New York launch, Beboe products will also be available in New Jersey at RISE Dispensaries and select licensed retail partners.

Positive

• Expansion of luxury cannabis brand Beboe into the New York market
• Products available at all RISE Dispensaries and select licensed retail partners in New York
• Planned expansion to New Jersey market
• Green Thumb operates four RISE Dispensaries in New York with a fifth location opening soon
• All products cultivated and produced at state-of-the-art Hudson Valley facility in Warwick

Negative

• None.

CHICAGO and VANCOUVER, British Columbia, July 25, 2024 (GLOBE NEWSWIRE) -- Green Thumb Industries Inc. (“Green Thumb” or the “Company”) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of RISE Dispensaries, today announced the expansion of Beboe, its luxury cannabis brand created for those looking for a mindful and elevated experience, into the New York market. The socially-dosed suite of Beboe cannabis products is available at all RISE Dispensaries across New York and select licensed retail partners.

Beboe is a premium cannabis brand residing at the intersections of luxury, style and wellness, with deep ties to the Empire State. Founder Scott Campbell built the renowned Saved Tattoo studio in Brooklyn, attracting high-profile celebrities and other luxury loving clients. After attending several star-studded social gatherings, Campbell was inspired to develop a sophisticated product, akin to a bottle of upscale wine, that attendees could proudly display. His inspired creativity empowered him to create Beboe in 2017. The brand's commitment to destigmatizing medical and adult-use cannabis by providing a sophisticated cannabis experience was the driving force behind the brand's evolution into what The New York Times calls the “Hermès of marijuana.”

“Bringing Beboe to New York is a full circle moment for the brand,” said Scott Campbell, Co-Founder of Beboe. “We created Beboe with a goal of elevating the cannabis experience by offering products that blend seamlessly into a sophisticated lifestyle. We’re excited to share our vision with New Yorkers, introducing them to the artistry, quality and elegance that has defined Beboe since its inception.”

Green Thumb is proud to serve the New York cannabis community and is committed to expanding access to well-being through safe, high-quality cannabis products. There are four RISE Dispensaries across the state, with locations in Manhattan and Long Beach that serve medical patients, as well as Henrietta (Rochester) and Halfmoon (Clifton Park) that serve both medical patients and adult-use customers. RISE Dispensary East Syracuse is slated to open later this summer as a medical and adult-use location. All Green Thumb branded products sold in New York, including Beboe, are cultivated and produced at the Company’s state-of-the-art Hudson Valley production facility in Warwick.

“We are thrilled to introduce New Yorkers to Beboe, a brand that is all about self-love and enhancing your unique, authentic lifestyle,” said Green Thumb Founder, Chairman and Chief Executive Officer Ben Kovler. “New York is known for its inspiring atmosphere, which makes it the perfect match for Beboe’s premium cannabis vapes and edibles.”

With products currently available in Illinois, Maryland, Massachusetts, Nevada and Ohio, Beboe proudly brings an expansive, sparkly-yet-functional collection of sleek, rose gold vapes and artfully blended edibles to New York, including Inspired Vape, Downtime Vape, Sweet Dreams Gummies, Inspired Gummies, Cloud 9 Gummies, and Anytime Gummies. The brand’s Downtime Gummies and Remedy Gummies will also debut in New York in Fall 2024. Following Beboe’s New York launch, neighbors in New Jersey can also expect to see Beboe products at RISE Dispensaries and select licensed retail partners. To learn more about Beboe’s portfolio of products visit beboe.com/products.

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 it serves. Green Thumb manufactures and distributes a portfolio of branded cannabis products including &Shine, Beboe, Dogwalkers, Doctor Solomon’s, Good Green, incredibles and RYTHM. The company also owns and operates rapidly growing national retail cannabis stores called RISE Dispensaries. Headquartered in Chicago, Illinois, Green Thumb has 20 manufacturing facilities, 96 open retail locations and operations across 14 U.S. markets. Established in 2014, Green Thumb employs approximately 4,500 people and serves millions of patients and customers each year. More information is available at www.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. 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 expected growth of the Company. The forward-looking information in this news release is based upon the expectations of future events which management believes to be reasonable. Any forward-looking information speaks only as of the date on which it is made, and, except as required by law, Green Thumb 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 expressed or implied. When considering these forward-looking statements, readers should keep in mind the risk factors and other cautionary statements in Green Thumb’s public filings with the applicable securities regulatory authorities, including with the U.S. Securities and Exchange Commission on its website at www.sec.gov and with Canada’s SEDAR+ at www.sedarplus.ca, as well as on Green Thumb’s website at https://investors.gtigrows.com, including in the “Risk Factors” section of the Company’s most recent Annual Report on Form 10-K.

Investor Contact:
Andy Grossman
EVP, Capital Markets & Investor Relations
InvestorRelations@gtigrows.com
310-622-8257

Media Contact:
GTI Communications
media@gtigrows.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/59f9e951-0118-4da9-9072-d4c5d5e8f30f

FAQ

What products is Beboe launching in the New York cannabis market?

Beboe is launching a range of premium cannabis products in New York, including Inspired Vape, Downtime Vape, Sweet Dreams Gummies, Inspired Gummies, Cloud 9 Gummies, and Anytime Gummies. Additional products, Downtime Gummies and Remedy Gummies, are set to debut in Fall 2024.

Where can customers purchase Beboe products in New York?

Beboe products are available at all RISE Dispensaries across New York and select licensed retail partners. Green Thumb operates four RISE Dispensaries in the state, with locations in Manhattan, Long Beach, Henrietta, and Halfmoon.

Is Green Thumb Industries (GTBIF) expanding Beboe to other states besides New York?

Yes, following the New York launch, Green Thumb Industries plans to expand Beboe products to New Jersey. They will be available at RISE Dispensaries and select licensed retail partners in New Jersey.

When did Green Thumb Industries (GTBIF) announce the expansion of Beboe to New York?

Green Thumb Industries announced the expansion of Beboe to the New York market on July 25, 2024.