Green Thumb Industries Repaid on Cansortium Loan
Green Thumb Industries announced receiving approximately $23 million in principal repayment plus 13% accrued interest from Cansortium Inc., following their recent financing. This payment adds to Green Thumb's Q3 ending cash balance of $174 million. The repayment represents a full return of the original loan investment, which the company characterized as an example of their opportunistic capital allocation strategy combining upside potential with downside protection.
Green Thumb Industries ha annunciato di aver ricevuto circa 23 milioni di dollari in rimborso del capitale più il 13% di interesse maturato da Cansortium Inc., a seguito del loro recente finanziamento. Questo pagamento contribuisce al saldo di cassa di Green Thumb alla fine del terzo trimestre, che ammonta a 174 milioni di dollari. Il rimborso rappresenta un completo ritorno dell'investimento originale, che l'azienda ha caratterizzato come un esempio della loro strategia di allocazione del capitale opportunistica, che combina il potenziale di guadagno con la protezione dal rischio.
Green Thumb Industries anunció haber recibido aproximadamente 23 millones de dólares en reembolso de capital más un 13% de interés acumulado de Cansortium Inc., tras su reciente financiamiento. Este pago se suma al saldo de caja de Green Thumb al final del tercer trimestre, que asciende a 174 millones de dólares. El reembolso representa un retorno completo de la inversión original, la cual la compañía caracterizó como un ejemplo de su estrategia de asignación de capital oportunista que combina potencial de crecimiento con protección contra riesgos.
그린 썸 인더스트리(Green Thumb Industries)는 최근 자금 조달에 따라 Cansortium Inc.로부터 약 2300만 달러의 원금 상환과 함께 13%의 이자를 받았다고 발표했습니다. 이 지급은 그린 썸의 3분기 종료 시 현금 잔고인 1억 7400만 달러에 추가됩니다. 이 상환은 회사가 기회주의적 자본 할당 전략의 일환으로 원래 대출 투자에 대한 전액 반환을 나타내며, 이는 상승 잠재력과 하향 보호를 결합한 것입니다.
Green Thumb Industries a annoncé avoir reçu environ 23 millions de dollars en remboursement de capital plus 13% d'intérêts accumulés de Cansortium Inc., suite à leur récent financement. Ce paiement s'ajoute à la position de trésorerie de Green Thumb à la fin du troisième trimestre, qui s'élève à 174 millions de dollars. Le remboursement représente un retour complet de l'investissement d'origine, que la société a qualifié d'exemple de sa stratégie d'allocation de capital opportuniste alliant potentiel de hausse et protection contre les risques.
Green Thumb Industries gab bekannt, dass sie von Cansortium Inc. etwa 23 Millionen Dollar an Kapitalrückzahlung sowie 13% aufgelaufene Zinsen erhalten haben, nach ihrer kürzlichen Finanzierungsrunde. Diese Zahlung erhöht den Bargeldbestand von Green Thumb zum Ende des dritten Quartals auf 174 Millionen Dollar. Die Rückzahlung stellt eine vollständige Rückführung des ursprünglichen Darlehensdarlehens dar, das das Unternehmen als Beispiel für seine opportunistische Kapitalallokationsstrategie charakterisierte, die Aufwärtspotenzial mit Abwärtsschutz kombiniert.
- Received full repayment of $23 million loan principal plus 13% interest
- Strengthens cash position beyond Q3's $174 million balance
- Successful return on investment with 100% principal recovery
- None.
CHICAGO and VANCOUVER, British Columbia, Nov. 27, 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 it received principal and cash interest payments related to a prior loan to Cansortium Inc. (CSE: TIUM.U) (OTCQB: CNTMF) (“Cansortium”). Following Cansortium’s recent financing, Green Thumb received approximately
“I want to congratulate the Cansortium team on their announcement yesterday and wish them well with the upcoming business combination with RIV Capital,” said Ben Kovler, Green Thumb Founder, Chairman and Chief Executive Officer. “This investment is a good example of our opportunistic style to allocating capital - we want to have upside optionality combined with downside protection. The result in this case of getting paid back 100 cents on the dollar feels like a win. We look forward to re-allocating these dollars into unique opportunities within our circle of competence to benefit shareholders.”
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. Headquartered in Chicago, Illinois, Green Thumb has 20 manufacturing facilities, 101 open retail locations and operations across 14 U.S. markets. Established in 2014, Green Thumb employs approximately 4,800 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 that we believe are, or may be considered to be, “forward-looking statements.” All statements other than statements of historical fact included in this document regarding the prospects of our industry or our prospects, plans, financial position or business strategy may constitute forward-looking statements. In addition, forward-looking statements generally can be identified by the use of forward-looking words such as “may,” “will,” “expect,” “intend,” “estimate,” “foresee,” “opportunity,” “project,” “potential,” “risk,” “anticipate,” “believe,” “plan,” “forecast,” “continue,” “suggests” or “could” or the negative of these terms or variations of them or similar terms or expressions of similar meaning. Furthermore, forward-looking statements may be included in various filings that we make with the Securities and Exchange Commission (the “SEC”), or oral statements made by or with the approval of one of our authorized executive officers. Although we believe that the expectations reflected in these forward-looking statements are reasonable, we cannot assure you that these expectations will prove to be correct. These forward-looking statements are subject to certain known and unknown risks and uncertainties, as well as assumptions that could cause actual results to differ materially from those reflected in these forward-looking statements. These known and unknown risks include, without limitation: cannabis remains illegal under U.S. federal law, and enforcement of cannabis laws could change; the Company may be subject to action by the U.S. federal government; state regulation of cannabis is uncertain; the Company may not be able to obtain or maintain necessary permits and authorizations; the Company may be subject to heightened scrutiny by Canadian regulatory authorities; the Company may face limitations on ownership of cannabis licenses; the Company may become subject to U.S. Food and Drug Administration or the U.S. Bureau of Alcohol, Tobacco, Firearms, and Explosives regulation; cannabis businesses are subject to applicable anti-money laundering laws and regulations and have restricted access to banking and other financial services; the Company may face difficulties acquiring additional financing; the Company faces intense competition; the Company faces competition from unregulated products; the Company is dependent upon the popularity and consumer acceptance of its brand portfolio; the Company lacks access to U.S. bankruptcy protections; the Company operates in a highly regulated sector and may not always succeed in complying fully with applicable regulatory requirements in all jurisdictions where it carries on business; the Company has limited trademark protections; the Company may face difficulties in enforcing its contracts; cannabis businesses are subject to unfavorable tax treatment; cannabis businesses may be subject to civil asset forfeiture; the Company is subject to proceeds of crime statutes; the Company faces exposure to fraudulent or illegal activity; the Company’s use of joint ventures may expose it to risks associated with jointly owned investments; the Company faces risks due to industry immaturity or limited comparable, competitive or established industry best practices; the Company faces risks related to its products; the Company’s business is subject to the risks inherent in agricultural operations; the Company faces risks related to its information technology systems and potential cyber-attacks and security breaches; the Company relies on third-party software providers for numerous capabilities we depend upon to operate, and a disruption of one or more of these systems could adversely affect our business; the Company faces an inherent risk of product liability or similar claims; the Company’s products may be subject to product recalls; the Company may face unfavorable publicity or consumer perception; the Company’s voting control is concentrated; the Company’s capital structure and voting control may cause unpredictability; and issuances of substantial amounts of the Super Voting Shares, Multiple Voting Shares, Subordinate Voting Shares may result in dilution. Further information on these and other potential factors that could affect the Company’s business and financial condition and the results of operations are included in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, and elsewhere in the Company’s filings with the SEC, which are available on the SEC’s website or at https://investors.gtigrows.com. Readers are cautioned not to place undue reliance on any forward-looking statements contained in this document, which reflect management’s opinions only as of the date hereof. Except as required by law, we undertake no obligation to revise or publicly release the results of any revision to any forward-looking statements. You are advised, however, to consult any additional disclosures we make in our reports to the SEC. All subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements contained in this document.
Contact
Andy Grossman
EVP, Capital Markets & Investor Relations
InvestorRelations@gtigrows.com
FAQ
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