Green Thumb Industries Calls for Nonprofit Grant Applications as Part of Good Green Brand Launch

Rhea-AI Summary

Green Thumb Industries (GTBIF) announces the launch of Good Green, a cannabis product line dedicated to supporting marginalized communities affected by the War on Drugs. The company commits at least $1.3 million over the next 18 months to fund grants for nonprofits focused on education, employment, and expungement services. This initiative aims to provide career training and legal assistance to those harmed by discriminatory cannabis policies. Grant applications are now open for registered nonprofits.

Positive

• Launch of Good Green product line dedicated to social equity.
• Commitment of at least $1.3 million to support marginalized communities.
• Grant applications open for nonprofits focused on education and employment.

Negative

• None.

• Good Green grant applications are now open to nonprofit organizations that serve marginalized communities affected by the War on Drugs.
  
• The Company will proactively commit at least $1.3 million from Good Green brand sales over the next year and a half.

CHICAGO and VANCOUVER, British Columbia, July 21, 2021 (GLOBE NEWSWIRE) -- Green Thumb Industries Inc. (“Green Thumb”) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of Rise™ Dispensaries, today announced plans to launch Good Green, a line of cannabis products dedicated to creating professional opportunities for marginalized communities impacted by the War on Drugs. Good Green grant applications are now open to nonprofits that support the brand’s three pillars, including education, employment and expungement.

“Good Green’s mission is to promote change by making impactful investments in organizations working to correct the harms created by the War on Drugs, funded by sales of the plant that started it all,” said Green Thumb Founder and Chief Executive Officer Ben Kovler. “As the co-founder of Invest For Kids, a nonprofit that serves Chicago area youth, I have seen the impact unrestricted grants can make on smaller non-profits. The devastating social and economic costs of cannabis prohibition in our surrounding neighborhoods has created a massive need. Good Green is dedicated to committing meaningful resources to expand access and opportunity for diverse communities and those most impacted by the failed War on Drugs. Good Green helps others directly take part in this mission to change the status quo.”

Good Green builds upon the Company’s existing corporate social responsibility program, Growing for Good, which is committed to advancing diversity and inclusion, restorative justice and social equity within the cannabis industry.

Sales from Good Green products will fund grants awarded to nonprofits that provide cannabis career training, education and sustainable employment opportunities, as well as expungement legal services, to communities harmed by discriminatory cannabis policies. Green Thumb is allocating at least $1,300,000 in social equity grants via Good Green in the next 18 months. Registered 501(c)3 organizations that are selected by the program will receive funding from product sales.

Green Thumb will announce its nonprofit partners in the coming months. For more information on Good Green’s nonprofit application process, please visit www.good.green.

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 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™ Dispensaries. Headquartered in Chicago, Illinois, Green Thumb has 15 manufacturing facilities, licenses for 110 retail locations and operations across 13 U.S. markets. Established in 2014, Green Thumb employs over 2,700 people and serves thousands of patients and customers each year. The company was named to Crain’s Fast 50 list in 2021 and a Best Workplace by MG Retailer magazine in 2018 and 2019. 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 relating to the size of the U.S. cannabis market, expectations regarding listing opportunities for U.S. cannabis companies on major U.S. exchanges, the impact of cannabis on job opportunities and tax revenue in the U.S. and expectations regarding the principal purposes of the offering. 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 on the SEC’s website at www.sec.gov and on SEDAR at www.sedar.com, including the risk factors set out in the Registration Statement and any prospectus relating to the offering discussed in this release.

Investor Contact:                    Jennifer Dooley                      Chief Strategy Officer                 InvestorRelations@gtigrows.com                 310-622-8257

Media Contact: Grace Bondy Manager, Corporate Communications GBondy@gtigrows.com 517-672-8001

Source: Green Thumb Industries

FAQ

What is the Good Green initiative by Green Thumb Industries (GTBIF)?

The Good Green initiative is a new product line aimed at supporting marginalized communities affected by the War on Drugs, funded by sales of cannabis products.

How much is Green Thumb committing to the Good Green program?

Green Thumb is committing at least $1.3 million over the next 18 months to fund grants for nonprofits through the Good Green initiative.

Who can apply for the Good Green grants from Green Thumb Industries?

Nonprofit organizations that support the pillars of education, employment, and expungement can apply for the Good Green grants.

What are the main objectives of the Good Green initiative?

The main objectives are to provide career training, education, and legal services for expungement to communities harmed by discriminatory cannabis policies.