Over 200 Social Equity Applicants Have Participated in LEAP to Date With Many Submitting Dispensary License Applications
Programming and One-on-One Consultations Will Now Focus on the New Round of License Applications Due March 16
CHICAGO, Jan. 15, 2020 (GLOBE NEWSWIRE) — Green Thumb Industries (GTI) (CSE:GTII) (OTCQX: GTII), a leading national cannabis consumer packaged goods company and owner of Rise™ and Essence retail stores, today announced the next phase of its Social Equity License Education Assistance Program (LEAP) which includes programming and one-on-one consultations for Illinois craft grower, infuser and transporter licenses. Applications are due to the state on March 16 and the Department of Agriculture is expected to issue up to 40 craft grower licenses, up to 40 infuser licenses, and an unlimited number of transporter licenses on or before July 1, 2020. Dispensary applications were due January 2 with up to 75 awardees expected to be announced by May 1.
“At GTI, we believe it is our responsibility to help reduce barriers to cannabis business ownership for minorities and others most impacted by the war on drugs – and we are so humbled to have provided guidance to more than 200 applicants so far, many of whom applied for dispensary licenses,” says GTI Senior Vice President of Government and Regulatory Affairs Dina Rollman. “LEAP was created to offer assistance to those looking to enter this highly competitive industry and to serve as a resource to as many applicants as possible that qualify as a social equity applicant under Illinois law. GTI has had a long history of winning licenses and our team is excited to share our lessons learned and best practices with a new generation of business owners in this burgeoning industry. We can’t wait to continue our work with the new round of applicants and those who are awarded licenses.”
These services are provided pro bono and GTI will not seek any type of fee, ownership or remuneration in exchange for its services. All information shared with GTI will remain confidential.
Social equity applicants can receive up to 200 additional points out of 1,000 total points awarded for craft grower, infuser, and transporter applications. To be considered a Social Equity Applicant under the law, individuals must be an Illinois resident and meet one of the following criteria (as defined in the Illinois Cannabis Regulation and Tax Act):
(1) an applicant with at least 51% ownership and control by one or more individuals who have resided for at least 5 of the preceding 10 years in a Disproportionately Impacted Area;
(2) an applicant with at least 51% ownership and control by one or more individuals who: (i) have been arrested for, convicted of, or adjudicated delinquent for any offense that is eligible for expungement under this Act; or (ii) is a member of an impacted family;
(3) for applicants with a minimum of 10 full-time employees, an applicant with at least 51% of current employees who: (i) currently reside in a Disproportionately Impacted Area; or (ii) have been arrested for, convicted of, or adjudicated delinquent for any offense that is eligible for expungement under this Act or member of an impacted family.
Sessions will primarily be hosted by GTI in partnership with the Cannabis Law Society at Chicago-Kent Law School (565 W. Adams, Chicago) with one-on-one mentoring immediately following the formal program*:
Wednesday, January 15 (1:00 – 2:00 p.m.): Application Overview for Craft Grow and Infuser Applicants. Register here.
Wednesday, January 22 (1:00 – 2:00 p.m.): Application Overview for Transporter Applicants. Register here.
Wednesday, January 29 (1:00 – 2:00 p.m.): Security Exhibit Webinar with Sapphire Risk Advisory Group (in-person and online attendance available). Register here.
Wednesday, February 5 (1:00 – 2:00 p.m.): Real Estate Seminar on Proposed Facilities, Property Ownership, and Notice of Proper Zoning. Register here.
Wednesday, February 12 (1:00 – 2:00 p.m.): Cultivation Plan and Infuser Plan Seminar. Register here.
Wednesday, February 19 (1:00 – 4:00 p.m.): Business Plan Seminar with Accounting, Tax, and Insurance Experts. Register here.
Wednesday, February 26 (1:00 – 1:30 p.m.): Product Safety and Labeling Seminar for Craft Grow and Infuser Applicants. Register here.
TBD in February: Chicago State University evening seminar.
Wednesday, March 4 (1:00 – 2:00 p.m.): Submission Instruction Seminar on How to Organize, Label, and Submit a Completed Application. Register here.
Wednesday, March 4 (2:00 – 2:30 p.m.): Diversity Plan Seminar. Register here.
Wednesday, March 11 (1:00 – 2:00 p.m.): Open Q&A for Craft Grow, Infuser, and Transporter Applicants. Register here.
*Exact content and times subject to change.
Those interested in the program should e-mail socialequity@gtigrows.com for additional information and check the LEAP information page at gtigrows.com/responsibility/leap for updates.
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 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™ and Essence. Headquartered in Chicago, Illinois, GTI has 13 manufacturing facilities, licenses for 96 retail locations and operations across 12 U.S. markets. Established in 2014, GTI employs approximately 1,400 people and serves thousands of patients and customers each year. GTI 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.
| Investor Contact: Jennifer Dooley Chief Strategy Officer InvestorRelations@gtigrows.com 310-622-8257 |
Media Contact Linda Marsicano VP, Corporate Communications lmarsicano@gtigrows.com 773-354-2004 |
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