Green Thumb Industries Inc. (GTI) (CSE: GTII) (OTCQX: GTBIF), a national cannabis consumer packaged goods company and owner-operator of the high growth national retail chain RISE™, has been awarded four additional retail licenses by the Pennsylvania Department of Health. Each license allows for the opening of up to three stores. The state awarded only 23 new licenses after receiving 180 applications. The 12 new RISE™ stores will be located throughout the state including potential sites in Philadelphia and Pittsburgh.
“We look forward to expanding our presence and providing more access to alternative ways of well-being to Pennsylvanians,” said GTI Founder and Chief Executive Officer Ben Kovler. “The momentum continues to be strong following GTI’s license award this week in New Jersey for cultivation, processing, and retail. These are big wins for the team and solidly aligned with our strategy to bring high quality cannabis products to people across the country.”
GTI entered the Pennsylvania market in 2017 and currently owns and operates RISE™ retail stores in the state and has a manufacturing facility in Danville.
More than 98,000 patients in Pennsylvania have registered to participate in the program, and over 66,000 have identification cards to purchase medical marijuana. Approximately 1,380 physicians have registered, 945 of whom have been approved so far as practitioners. The quarterly medical marijuana tax revenues increased 214% from August 2018 to November 2018. Pennsylvania has a robust list of 21 qualifying conditions including opioid use disorder, post-traumatic stress disorder and severe chronic pain. Dry leaf was added to the program earlier this year amid strong patient demand. More information about the Pennsylvania medical marijuana program can be found at https://www.health.pa.gov.
About Green Thumb Industries:
Green Thumb Industries (GTI), a national cannabis cultivator, processor and dispensary operator, is dedicated to providing dignified access to safe and effective cannabis nationwide while giving back to the communities in which they serve. As a vertically integrated company, GTI manufactures and sells a well-rounded suite of branded cannabis products including flower, concentrates, edibles, and topicals. The company also owns and operates a rapidly growing national chain of retail cannabis stores called RISE™. Headquartered in Chicago, Illinois, GTI has nine manufacturing facilities and licenses for 73 retail locations across nine highly regulated U.S. markets. Established in 2014, GTI employs approximately 500 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.