Green Thumb Industries Responds to Baseless Allegations by Chicago Tribune
Green Thumb Industries (GTBIF) refutes allegations of an open federal investigation regarding its business practices. The claims originated from a Chicago Tribune report lacking credible sources. CEO Ben Kovler criticized the report for being misleading and emphasized that the company has legally obtained its licenses through competitive state programs. Green Thumb demands a retraction from the Chicago Tribune, emphasizing its commitment to compliant business operations and community well-being. The company operates 13 manufacturing facilities and holds licenses for 97 retail locations.
- Green Thumb operates a robust business model with 97 retail licenses and 13 manufacturing facilities.
- The company emphasizes compliance and has secured licenses through competitive state-run programs.
- The misleading allegations could harm the company's reputation and investor trust.
CHICAGO and VANCOUVER, British Columbia, March 31, 2021 (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, possesses absolutely no evidence to corroborate claims that there is an open investigation by federal authorities as alleged in an article by the Chicago Tribune under a misleading headline published on March 29, 2021.
Green Thumb first learned of the alleged probe into supposed violations regarding obtaining licenses from a Chicago Tribune reporter who cited unnamed sources shortly before the article was published. Federal authorities have made no effort to initiate contact with Green Thumb.
“The Chicago Tribune has published unfounded allegations that completely contradict our corporate values,” said Green Thumb Founder and CEO Ben Kovler. “The reporter did not cite any credible sources nor evidence, and published under a salacious front page headline intended to mislead. This is not just irresponsible journalism but reckless behavior that impacts the livelihood of our employees, the close bond to the communities in which we serve, and the trust of our investors. Our company has secured licenses through competitive state-run programs and traditional M&A transactions. We have taken painstaking measures to scale compliantly as we provide access to well-being through cannabis, and will continue to hold ourselves to the highest standards.”
Green Thumb demands an immediate retraction of the article by the Chicago Tribune.
About Green Thumb Industries:
Green Thumb Industries Inc. (“Green Thumb”), a national cannabis consumer packaged goods company and owner of Rise™ dispensaries, 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™. Headquartered in Chicago, Illinois, Green Thumb has 13 manufacturing facilities, licenses for 97 retail locations and operations across 12 U.S. markets. Established in 2014, Green Thumb employs over 2,400 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.
| Investor Contact: | Media Contact: |
| Jennifer Dooley | Linda Marsicano |
| Chief Strategy Officer | VP, Corporate Communications |
| InvestorRelations@gtigrows.com | lmarsicano@gtigrows.com |
| 310-622-8257 | 773-354-2004 |
Source: Green Thumb Industries
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