Green Thumb Industries Inc. (GTI) Expands Essence Brand in California, Third Retail License Awarded

Essence Cannabis Stores Slated for West Hollywood, Pasadena and Culver City

CHICAGO and CULVER CITY, Calif., July 25, 2019 (GLOBE NEWSWIRE) -- Green Thumb Industries (GTI) (CSE:GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of Essence and Rise™ retail stores, today announced that it is one of only three companies to be awarded a new retail license by Culver City, located in Los Angeles County, California.

“We are honored to be awarded a retail license by Culver City and to reach more people with our quality products and excellent customer care,” said GTI President Armen Yemenidjian. “Expanding to Southern California has long been part of our vision and we look forward to partnering with the Culver City community as we welcome new guests to Essence.”

The Culver City license award follows recent license wins in Pasadena and West Hollywood, where the company is one of only five to receive a retail, delivery and consumption lounge license. This continues a significant period of rapid growth for the Essence brand, which received eight new retail cannabis licenses in Nevada last year and has three open stores in Las Vegas, including the first on The Strip. GTI has 26 Rise™ and Essence retail stores open across the country and a footprint for a total of 95.

“GTI and Essence are strong partners, both with excellent track records of winning licenses,” said GTI Founder and Chief Executive Officer Ben Kovler. “We look forward to opening the new Essence stores across Nevada and California and thank Culver City for welcoming us to the community.”

For more information on Essence stores, please visit https://essencevegas.com.

About Green Thumb Industries:

Green Thumb Industries (GTI), a national cannabis consumer packaged goods company and retailer, is dedicated to providing dignified access to cannabis while giving back to the communities in which they serve. GTI manufactures and distributes a portfolio of branded cannabis products including Rythm, Dogwalkers, The Feel Collection, and Beboe, among others. The company also owns and operates rapidly growing national retail cannabis stores called Rise™ and Essence. Headquartered in Chicago, Illinois, GTI has 13 manufacturing facilities, licenses for 95 retail locations and operations across 12 U.S. markets. Established in 2014, GTI employs approximately 1,200 people and serves thousands of patients and customers each year. GTI was named a Best Workplace 2018 by Crain’s Chicago Business.  More information is available at GTIgrows.com.

Cautionary Note Regarding Forward-Looking Information

This press release contains statements which may constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of GTI with respect to future business activities. Forward-looking information is often identified by the words “may,” “would,” “could,” “should,” “will,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “expect,” or similar expressions and include information regarding the future direction and business objectives of GTI.  The forward‐looking information in this news release is based upon the expectations, estimates, projections, assumptions and views of future events which management believes to be reasonable in the circumstances and expectations relating to general economic and market conditions. Any forward‐looking information speaks only as of the date on which it is made, and, except as required by law, GTI does not undertake any obligation to update or revise any forward‐looking information, whether as a result of new information, future events or otherwise. The forward‐looking information in this news release is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those express or implied. When considering these forward‐looking statements, readers should keep in mind the risk factors and other cautionary statements in GTI’s public filings with the applicable securities regulatory authorities on SEDAR at www.sedar.com, including the risk factors set out in GTI’s annual information form dated July 10, 2018.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.

Investor Contact:
Jennifer Dooley

Media Contact:
Linda Marsicano

Chief Strategy Officer VP, Corporate Communications
InvestorRelations@gtigrows.com lmarsicano@gtigrows.com
310-622-8257 
773-354-2004
Source: Green Thumb Industries
 
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