While legalized adult-use cannabis sales just kicked off in Canada, Green Thumb Industries Inc. (CSE: GTII) (OTC:GTBIF), a United States-focused cannabis consumer packaged goods company and owner-operator of the high growth national retail chain RISE™ Dispensaries, today announced the closing of a bought deal financing round of roughly $101.66 million CAD, equivalent to just over $78.18 million USD.
Green Thumb intends to use the net proceeds from the offering for business development, including wholesale capacity, strategic initiatives, and general corporate purposes.
It comes as no surprise that investors want a piece of Green Thumb after hedge fund billionaire Leon Cooperman bought in.
Headquartered in Chicago, Illinois, Green Thumb has eight manufacturing facilities and licenses for 59 retail locations across eight highly regulated U.S. markets. Established in 2014, GTI employs approximately 400 people and serves thousands of patients and customers each year.
In addition to operating RISE™ Dispensaries across the U.S., as a vertically integrated company Green Thumb manufactures and sells a well-rounded suite of branded marijuana products including flower, concentrates, edibles, and topicals.
We’ll be keeping a close eye on Green Thumb Industries as things continue to develop. In the meantime, be sure to subscribe to Cannabis Stock Updates here so you never miss an important update.
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