Green Thumb Industries Raises US$56,000,000 Selling Approximately 1.6 Million Shares in the U.S.
CHICAGO and VANCOUVER, British Columbia, Feb. 23, 2021 (GLOBE NEWSWIRE) — Green Thumb Industries Inc. (“Green Thumb”) (CSE: GTII) (OTCQX: GTBIF), a leading cannabis consumer packaged goods company and owner of Rise™ Dispensaries, today announced that it raised approximately $56,000,000 from the Form S-1 registration statement relating to the potential sale of up to 10,000,000 of its subordinate voting shares (the “Registration Statement”), that was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) as of February 8, 2021. Green Thumb received and accepted offers from investors to purchase 1.6 million registered subordinate voting shares at US$35.50 per share for a total of approximately $56,000,000. The sale will close on February 23, 2021, and follows the previous sale of shares pursuant to the Registration Statement that closed on February 9, 2021, for $100,000,000.
The strength of investor demand suggests growing confidence within the U.S. capital markets for cannabis. The Green Thumb team is excited by the momentum and is proactively advocating for U.S. cannabis companies to receive access to U.S. exchanges like our Canadian peers.
Ben Kovler, Green Thumb Founder and Chief Executive Officer
This access is a key step to unlock greater job creation, significantly more tax revenue and a more robust effort to right some of the wrongs caused by the war on drugs.
As further described in the Registration Statement, the principal purposes of this offering are to increase Green Thumb’s capitalization and financial flexibility. The offering is being made only in the United States by means of a prospectus. Copies of the Registration Statement and prospectus may be accessed through the U.S. Securities and Exchange Commission’s website at www.sec.gov, and from Green Thumb’s Investor Relations Department at 325 W. Huron Street, Suite 700, Chicago, IL 60654 or by calling 310-622-8257.
The offering is on a “self-underwritten, best efforts” basis.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The subordinate voting shares being offered pursuant to the Registration Statement (i) have not been qualified for distribution by prospectus in Canada, and (ii) may not be offered or sold in Canada during the course of their distribution except pursuant to a Canadian prospectus or prospectus exemption.
About Green Thumb Industries:
Green Thumb Industries Inc., 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 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 2,300 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. More information is available at GTIgrows.com.
