CHICAGO and VANCOUVER, British Columbia, April 15, 2020 (GLOBE NEWSWIRE) — Green Thumb Industries Inc. (“GTI” or the “Company”) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of Rise™ and Essence retail stores, today announced that it has filed its Annual Report on Form 10-K for the year ended December 31, 2019 (the “Form 10-K”) with the United States Securities and Exchange Commission (“SEC”). The Form 10-K has also been filed on Canada’s System for Electronic Document Analysis and Retrieval (“SEDAR”). The Form 10-K is available on the Investor Relations section of GTI’s website at https://investors.gtigrows.com, the SEC’s website at www.sec.gov and SEDAR at www.sedar.com. GTI began reporting with the SEC as a U.S. domestic issuer in February 2020.
Under Canadian securities laws applicable to the Company’s transition from International Financial Reporting Standards (“IFRS”) to U.S. generally accepted accounting principles (“U.S. GAAP”), the Company’s continuous disclosure obligations also require it to file on SEDAR unaudited, unreviewed interim financial statements for the first three quarters of 2019 in U.S. GAAP. The financial statements in IFRS for these interim periods were previously filed on SEDAR. The Company also announces that it is relying on the exemption provided in BCI 51-515 (and similar exemptions provided by other Canadian Securities Regulators) to delay the filing of the following interim financial statements in U.S. GAAP (collectively the “Documents”):
- Unaudited, unreviewed, condensed consolidated interim financial statements for the three months ended March 31, 2019 and 2018 in U.S. GAAP;
- Unaudited, unreviewed, condensed consolidated interim financial statements for the three and six months ended June 30, 2019 and 2018 in U.S. GAAP; and
- Unaudited, unreviewed, condensed consolidated interim financial statements for the three and nine months ended September 30, 2019 and 2018 in U.S. GAAP.
Members of the Company’s management and other insiders are subject to a trading black-out policy that reflects the principles in section 9 of National Policy 11-207. The Company expects to file the Documents within the available 45 day extension period. An update on all material business developments of the Company can be found in the Form 10-K available on the SEC’s website at www.sec.gov and on SEDAR at www.sedar.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. 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 filing of the Documents and the timing thereof. The forward‐looking information in this news release is based upon the expectations of future events which management believes to be reasonable. 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 the SEC’s website at www.sec.gov and on SEDAR at www.sedar.com, including the risk factors set out in the 2nd Amendment to GTI’s Registration Statement on Form 10/A and its Form 10-K.
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