GREEN THUMB INDUS SUB VTG - GTBIF STOCK NEWS

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.

Green Thumb Industries (GTBIF) announced the extension of the maturity date for its senior secured notes from April 30, 2024, to April 30, 2025. The total principal amount of these notes is approximately $250 million, with an interest rate of 7% paid quarterly. Importantly, this extension did not require any amendments to the notes or additional benefits for existing lenders, indicating stable financial management amidst regulatory uncertainties in the cannabis sector.

Green Thumb Industries (CSE: GTII, OTCQX: GTBIF) has scheduled its second quarter financial results announcement for August 3, 2022, after market close. Investors can join a conference call and audio webcast at 5:00 p.m. Eastern Time, where management will discuss the results and answer questions. As a prominent cannabis consumer packaged goods company with 77 retail locations across 15 U.S. markets, Green Thumb aims to promote well-being through cannabis while making impactful contributions to local communities.

Innovative Industrial Properties (IIPR) announced a $55 million lease amendment with Green Thumb Industries (GTBIF) for a new 152,000-square-foot facility in Pennsylvania. This investment, part of IIP's ongoing partnership with Green Thumb, brings total funding for the property to $94.6 million. The facility features advanced cultivation and processing capabilities. IIP has a total investment of approximately $176.8 million in properties leased to Green Thumb, who has demonstrated significant revenue growth, increasing from $216 million in 2019 to nearly $900 million in 2021.