First of 2018 New Jersey License Award Winners to Become Operational
Community Invited to Open House on December 20
Rise Paterson Is Fourth Rise™ Store to Open Within the Last Month and GTI’s 37th Store in the Nation
CHICAGO and PATERSON, N.J., Dec. 19, 2019 (GLOBE NEWSWIRE) — Green Thumb Industries Inc. (GTI) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of Rise™ and Essence retail stores, will open Rise Paterson, its first store in New Jersey, on Saturday, December 21. This is GTI’s 37th store in the nation and the fourth store GTI has opened within the last month. GTI also operates a cultivation and processing facility in Paterson, which this month received its permit to begin growing cannabis, and is the first cannabis company to become operational in the state among the 2018 license award winners.
Rise Paterson will welcome the community to an open house and ribbon cutting on December 20 from 10 a.m. to 12 p.m. to tour the store, meet the Rise™ team and find out more about New Jersey’s medical marijuana program. The event will be held before cannabis products are in-store to allow the entire community, not just patient cardholders, to explore the site.
“We applaud New Jersey Governor Phil Murphy and Paterson Mayor Andre Sayegh for their leadership, vision and commitment to the medical cannabis community,” said GTI Founder and CEO Ben Kovler. “We are honored to bring jobs and tax revenue to Paterson and to New Jersey and look forward to being active, involved members of the community.”
Paterson Mayor Andre Sayegh and New Jersey Assistant Commissioner of Health Jeff Brown will be special guests at the ribbon cutting ceremony.
“We are incredibly encouraged by the investment GTI has made in Paterson and their commitment to hire Patersonians,” said Paterson Mayor Andre Sayegh. “We believe this is just the tip of the iceberg for jobs and financial benefits for our residents connected to the medical cannabis industry.”
The New Jersey medical marijuana program currently has over 63,000 registered patients. The state has more than 1,000 participating physicians and 17 qualifying conditions, including opioid use disorder, anxiety, post-traumatic stress disorder and chronic pain. More information about the New Jersey medicinal marijuana program can be found at www.nj.gov/health.
Rise Paterson is located at 196 3rd Ave. in Paterson. Hours are Tuesday through Friday from 10 a.m. to 7 p.m. and Saturday from 10 a.m. to 5 p.m.
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 over 1,300 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.
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