Green Thum - GTBIF STOCK NEWS

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 Industries reported impressive financial results for Q4 2020, with revenues of $177.2 million, reflecting a 133.8% YoY increase. For the full year, revenue rose 157.2% to $556.6 million. The company achieved a net income of $22.5 million in Q4, its second consecutive quarter of positive GAAP net income. Adjusted Operating EBITDA also surged by 374.0% YoY, reaching $65.4 million, indicating strong operational performance. Green Thumb raised $156 million following its IPO, enhancing its balance sheet and capital for future growth.

Green Thumb Industries (GTI) has opened its second Rise™ dispensary in New Jersey, located in Paramus, marking the 54th store nationwide. The first-day sales will benefit the Paramus Children’s Health Foundation, supporting families facing economic hardship due to children's serious illnesses. CEO Ben Kovler highlighted the new location’s accessibility for over 100,000 registered medical cannabis patients in the state. Rise Paramus offers online reservations for in-store pickups and operates Monday to Friday from 10 a.m. to 7 p.m., and Saturdays from 10 a.m. to 5 p.m.

Green Thumb Industries has opened its first retail store, Essence Pasadena, in California, expanding its presence to 11 states with 53 locations nationwide. The grand opening is set for March 20, 2021, with profits from the first day benefitting the Pasadena Chamber of Commerce Foundation's Minority Small Business Initiative. California's legal cannabis market is projected to reach annual sales of $6.9 to $8.1 billion by 2024, contributing over $1 billion in tax revenue since 2018. Customers can pre-order, use curbside pickup, or opt for delivery at the new store.

Green Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIF) has announced an exclusive partnership with Cann to manufacture and distribute cannabis-infused sparkling beverages, starting in Illinois this spring. Green Thumb aims to tap into the growing cannabis beverage market, which has seen significant growth, with Cann becoming California's #1 cannabis beverage brand, achieving over 600% growth in sales in 2020. Cann’s beverages are marketed as a healthier alternative to alcohol, being low in sugar and calories, and made with all-natural ingredients.

Green Thumb Industries (GTBIF) announced its participation in the Needham 2nd Annual Virtual Cannabis Conference on March 3, 2021, where management will engage in one-on-one meetings. As a national cannabis consumer packaged goods company, Green Thumb operates Rise™ retail stores and has a diverse portfolio of branded products. The company boasts 13 manufacturing facilities and licenses for 97 retail locations across 12 U.S. markets, employing over 2,300 people. Green Thumb has been recognized as a Best Workplace by Crain’s Chicago Business and MG Retailer magazine in 2018 and 2019.

Green Thumb Industries announced it raised approximately $56 million through the sale of 1.6 million subordinate voting shares at US$35.50 per share, following a $100 million sale earlier this month. The offering, declared effective by the SEC, aims to enhance the company's capitalization and financial flexibility. CEO Ben Kovler highlighted the strong investor demand as a sign of growing confidence in the U.S. cannabis market. The sale will close on February 23, 2021, and further details can be accessed through the SEC website.

Green Thumb Industries (GTBIF) announces the effectiveness of its Form S-1 registration to sell up to 10 million subordinate voting shares, declared by the SEC on February 8, 2021. On February 9, 2021, the company accepted an offer from an institutional investor to purchase approximately 3.1 million shares at $32.03 each, totaling $100 million. This sale aims to enhance Green Thumb's capitalization and financial flexibility, amidst growing interest in the U.S. cannabis market, which represents a significant economic opportunity.

Green Thumb Industries (GTBIF) announces the opening of Rise Erie Peach in Pennsylvania, its 52nd retail location, on February 3, 2021. The store, which is the company's largest at 16,000 square feet, will donate its first-day profits to Community Shelter Services. Green Thumb emphasizes its deep community ties in Erie, where it first entered the state market in 2017. The new dispensary offers online reservations for medical cannabis cardholders and operates daily with specific hours. This expansion reflects Green Thumb's ongoing commitment to accessible cannabis and community support.