Vancouver, British Columbia--(Newsfile Corp. - June 15, 2018) - Green Thumb Industries Inc. (CSE: GTII) is the latest new listing on the Canadian Securities Exchange, following a reverse takeover Bayswater Uranium, which previously traded on the TSX Venture Exchange. With a vertically integrated supply chain, Green Thumb owns and operates seven manufacturing facilities, distributes a well-rounded suite of branded cannabis products, and operates a chain of retail locations in seven highly regulated, limited supply U.S. markets: Illinois, Pennsylvania, Ohio, Massachusetts, Maryland, Florida and Nevada.
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Headquartered in Chicago, Illinois, the company, which recently opened its 13th RISE dispensary, has licenses for 50 retail locations across seven highly regulated U.S. markets. Established in 2014, GTI employs more than 350 people and serves hundreds of thousands of patients and customers each year. Revenue in 2017 exceeded US$20 million, with the company on track for continued growth in 2018.
Ben Kovler, Founder and Chairman, stated: "Listing on the CSE provides access to capital to fuel the company's strategic growth. But it doesn't change our focus on capital allocation and execution to optimize shareholder value. We will continue to move the business forward while providing the best possible customer experience."
Pete Kadens, CEO, added: "The opportunity to touch the lives of more customers through expanding our brand distribution footprint and the RISE retail experience is extremely rewarding. We have the right infrastructure and people in place -- and we will work to maximize GTI's potential for the shareholders who've entrusted us with their capital."
The company raised approximately CDN$87 million or US$67 million through a brokered and non-brokered private placement of 11.2 million shares at US$6.00. GMP Securities and Canaccord Genuity acted as co-bookrunners on the brokered financing.
For more information, please visit the company's website at www.GTIgrows.com, contact either Linda Marsicano, VP Corporate Communications at 773-354-2004 or by email at lmarsicano@GTIgrows.com for Media inquiries, or Jennifer Dooley, VP Corporate Development and Investor Relations, at 310-622-8257 or by email at investorrelations@GTIgrows.com.
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