Rise™ opened dispensaries in Lorain and Toledo earlier this year and has licenses to open up to five cannabis stores in the state.
CHICAGO and CLEVELAND, July 30, 2019 (GLOBE NEWSWIRE) — Green Thumb Industries (GTI) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer goods company and owner of Rise™ and Essence retail stores, announced it will open its 27th location, Rise Cleveland, on August 1. This is the third Rise™ store in Ohio and the city’s first cannabis retail store.
Rise Cleveland is in downtown Cleveland near Progressive Field and Rocket Mortgage FieldHouse.
Rise™ opened dispensaries in Lorain and Toledo earlier this year and has licenses to open up to five cannabis stores in the state including two in Lakewood on Detroit and Madison Avenues. The company was awarded an Ohio processing license earlier this year and will produce GTI’s branded cannabis products in a facility located in Toledo.
“We are honored to help Ohioans exercise their right to wellness and to be the first cannabis retail store to open in Cleveland in such an accessible downtown location,” said GTI Founder and Chief Executive Officer Ben Kovler. “The Rise™ team is also excited to have broken ground on our two Lakewood locations which we are working diligently to open.”
Cleveland is the second largest city in Ohio. The number of registered patients in Ohio has reached 48,248 as of June 2019. In an analysis conducted in July 2018, more than 3.5 million Ohioans have qualifying medical conditions. Estimates expect nearly 200,000 to 300,000 patients will eventually participate in the Ohio medical marijuana program.
Those interested in the state’s medical marijuana program can visit https://www.medicalmarijuana.ohio.gov/.
Rise Cleveland is located at 1222 Prospect Ave. in Cleveland. Hours are Monday through Saturday 10 a.m. to 7 p.m. and Sunday from 12 p.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 Rythm, Dogwalkers, The Feel Collection, incredibles and Beboe, among others. 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 95 retail locations and operations across 12 U.S. markets. Established in 2014, GTI employs approximately 1,200 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.