Green Thum - GTBIF STOCK NEWS

Green Thumb Industries (CSE: GTII, OTCQX: GTBIF) announced its third round of grant funding through its Good Green brand, aimed at supporting communities affected by the War on Drugs. Four nonprofit organizations will receive unrestricted grants of $50,000 each to promote initiatives in expungement, education, and employment. The recipients include The Petey Greene Program, Minority Cannabis Academy, Cannabis Equity IL Coalition, and Nolef Turns Inc. This initiative reflects Good Green's commitment to address cannabis-related injustices and reinvest in impacted communities.

Green Thumb Industries reported financial results for Q3 2022, highlighting a 3% sequential and 12% year-over-year revenue increase to $261 million. The year-to-date revenue reached $758 million, marking a 17% rise. The company posted a GAAP net income of $10 million or $0.04 per share for the ninth consecutive quarter. Adjusted Operating EBITDA grew by 7% to $84 million, equating to 32% of revenue. Green Thumb also announced plans for RISE Express medical dispensaries in Florida, aiming to enhance consumer access.

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.

Green Thumb Industries Inc. has appointed Richard Drexler and Jeff Goldman to its Board of Directors, following the resignation of three board members. Drexler, an experienced financial executive, will chair the Audit Committee. Goldman, a seasoned entrepreneur, brings extensive CPG brand experience. The resigning directors stated their departure was due to disagreements over company policies, not performance or financial issues. Founder Ben Kovler emphasized the opportunity for increased shareholder value with the new board alignment as the company advances its growth strategies.

Purpl Scientific has signed an R&D agreement with Green Thumb Industries (CSE: GTII, OTCQX: GTBIF) to implement near-infrared spectroscopy (NIRS) testing for cannabis extracts. Preliminary results indicate that NIRS can compete with traditional High-Performance Liquid Chromatography (HPLC). Purpl's technology allows rapid, accurate testing at lower costs, enabling employees to perform tests efficiently. Initial product tests will focus on potency and will be presented at MJBizCon in November, with a commercial launch expected in January 2023.

Green Thumb Industries (CSE: GTII, OTCQX: GTBIF) announces plans to release its third quarter financial results on November 2, 2022, after market close. A conference call will follow at 5:00 p.m. ET to discuss the results and address questions. Interested parties can pre-register for the call. Green Thumb, a national cannabis consumer packaged goods company, operates 77 retail locations and 17 manufacturing facilities across 15 U.S. markets, employing approximately 4,000 people. The company has been recognized in Crain’s Fast 50 list in 2021 and 2022.

Green Thumb Industries (GTBIF) announced participation in two upcoming virtual conferences in September 2022. The first event is the 3rd Annual Needham Cannabis Conference on September 7, where management will engage in one-on-one meetings. The second event, the Wolfe Research Fall Consumer Conference, will take place on September 22, also featuring one-on-one meetings. Green Thumb operates 77 retail locations and has 17 manufacturing facilities across 15 U.S. markets, employing around 4,000 people.

RISE Dispensaries, owned by Green Thumb Industries (OTCQX: GTBIF), is sponsoring HeadCount’s Cannabis Voter Project to promote voter registration for cannabis policy reform ahead of the midterm elections. The campaign, titled “Roll Up to the Polls”, aims to engage voters through resources available at RISE locations and online. This collaboration highlights the need for consistent cannabis policies across the U.S. as emphasized by Green Thumb's CEO Ben Kovler, and aims to mobilize the cannabis community’s electoral participation.

Green Thumb Industries reported its Q2 2022 financial results, achieving a 4.8% sequential revenue increase and a 14.6% year-over-year growth to $254.3 million. First half revenue rose 19.4% to $496.9 million. The company posted a net income of $24.4 million, marking its eighth consecutive quarter of positive GAAP net income. Adjusted Operating EBITDA grew 17.4% sequentially to $78.7 million, representing 31.0% of revenue. Green Thumb maintains a solid balance sheet with $145.3 million in cash and current assets of $311.5 million.