Green Thumb to Launch “RISE Express” Dispensaries in Florida
Green Thumb Industries has announced an expansion of its retail operations in Florida through an exclusive lease agreement with Circle K, aiming to establish approximately ten RISE Express dispensaries in 2023. This strategic partnership leverages Circle K's 600 locations to enhance cannabis accessibility for patients. Products will be sourced from Green Thumb's new 28-acre cultivation facility in Ocala. With over 700,000 registered medical marijuana patients in Florida, the initiative signifies a significant opportunity for growth in the burgeoning cannabis market.
- Exclusive lease agreement with Circle K expands retail footprint.
- Plans to open approximately 10 RISE Express dispensaries in 2023.
- Access to over 700,000 registered medical marijuana patients in Florida.
- None.
Company Expands Retail Footprint Through Exclusive Lease Agreement with Circle K, one of the Largest Convenience Store Chains in the U.S.
CHICAGO and VANCOUVER, British Columbia, Oct. 19, 2022 (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 expand its medical retail footprint in Florida through a lease agreement with Circle K, the global convenience store retailer. Starting in 2023, Green Thumb plans to launch its test and learn phase of the rollout with approximately ten “RISE Express” branded dispensaries adjacent to Circle K stores in various Florida locations.
Through the exclusive agreement, Green Thumb can lease space from Circle K in Florida, where the retailer currently operates approximately 600 locations. The “RISE Express” stores will offer patients a selection of branded cannabis products including RYTHM premium flower, Dogwalkers pre-rolls, incredibles gummies and &Shine vapes.
“The opening of RISE Express stores at Circle K locations is a game-changer. Convenience is a strong channel in retail, and people want more access to cannabis,” said Green Thumb Founder, Chairman and Chief Executive Officer Ben Kovler. “The new RISE Express model is a huge step forward in making it easier and more efficient for patients to purchase high-quality cannabis as part of their everyday routine when stopping by their local convenience store.”
The products available at these retail stores will come from the Company’s new 28-acre cultivation facility in Ocala that will be operational by the end of 2022. Green Thumb entered the Florida market in 2018 and currently owns and operates medical cannabis retail stores in Bonita Springs, Deerfield Beach, Hallandale Beach, Kendall, Oviedo, Pinellas Park and West Palm Beach. The Company also has an existing cultivation and processing facility in Homestead.
According to the Florida Department of Health, over 700,000 Floridians are currently registered active cardholders in the state’s medical marijuana program. For more information on Florida’s medical marijuana program, visit www.knowthefactsmmj.com.
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 17 manufacturing facilities, 77 open retail locations and operations across 15 U.S. markets. Established in 2014, Green Thumb employs approximately 4,000 people and serves millions of patients and customers each year. The company was named to Crain’s Chicago Business Fast 50 list in 2021 and 2022 and a Best Workplace by MG Retailer magazine in 2018, 2019 and 2021. 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 filing of the Documents and the timing thereof. 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 express 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 System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com, as well as on Green Thumb’s website at https://investors.gtigrows.com, including in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2021.
| Investor Contact: | Media Contact: |
| Andy Grossman | MATTIO Communications |
| EVP, Capital Markets & Investor Relations | GTI@mattio.com |
| InvestorRelations@gtigrows.com | |
| 310-622-8257 |
Source: Green Thumb Industries
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fe430cee-b9d0-409d-a17a-78f1cee07bb7
FAQ
What is the significance of Green Thumb's lease agreement with Circle K?
How many RISE Express dispensaries is Green Thumb planning to open?
What products will be offered at the RISE Express dispensaries?
Where will the cannabis products for RISE Express stores come from?
How many registered medical marijuana patients are in Florida?
