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StaffStaffJuly 10, 2018
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6min8110

Chicago – July 10, 2018 /AxisWire/ Green Thumb Industries Inc. (GTI) (CSE: GTII) (OTCQX: GTBIF), a national cannabis cultivator, dispensary operator and consumer packaged goods company that produces and distributes a portfolio of cannabis branded products, welcomes decorated combat veteran, social entrepreneur and best-selling author Wes Moore to its board of directors. Moore is currently CEO of Robin Hood, New York City’s largest poverty-fighting organization.

“I’m thrilled to join GTI’s board and help empower its efforts to revitalize neighborhoods that have been disproportionately affected by the failed war on drugs,” says Moore.  “As a veteran, I applaud GTI’s efforts to expand access to medical marijuana for those who have found relief from PTSD, chronic pain and other conditions via cannabis’ medicinal benefits. I’m also impressed with the company’s entrepreneurial success story and look forward to being a part of the team that leads the company’s strategic growth going forward.”

“Wes is an ideal addition to the GTI board as we look to further the company’s positive impact on the communities we serve, many of which have lost lives and economic opportunities due to mass incarceration for non-violent drug-related convictions, in some cases resulting in generational poverty,” says GTI Chief Executive Officer Pete Kadens. “Another natural fit is Wes’ service to our country given GTI is dedicated to our veterans and ensuring those who need it have access to medical marijuana. Wes’ background as an entrepreneur will also be a crucial asset to GTI as we continue to strategically expand with shareholder value among our top priorities.”

Prior to being named Robin Hood’s CEO, Moore served on Robin Hood’s Veterans Advisory Board, which brought together leaders from the military, non-profits and government to connect veterans and their families living in poverty to housing, job training, education, counseling and health services.

Moore was the founder and CEO at BridgeEdU, an innovative platform addressing the college completion and job placement crisis. BridgeEdU creates intrusive and effective support for students through high-touch and high-tech platforms. He also is the executive producer and host of PBS’s “Coming Back with Wes Moore,” focusing on the reintegration of Iraq and Afghanistan veterans.

His books, “The Other Wes Moore” and “The Work,” became instant New York Times and Wall Street Journal bestsellers, capturing the nation’s attention on the fine line between success and failure in our communities.

Despite childhood challenges, Moore graduated Phi Theta Kappa from Valley Forge Military College in 1998 and Phi Beta Kappa from Johns Hopkins University in 2001. He earned a Master’s degree in International Relations from Oxford University as a Rhodes Scholar in 2004. Moore then served as a Captain and paratrooper with the U.S. Army’s 82nd Airborne, including a combat deployment to Afghanistan. He later served as a White House Fellow to Secretary of State Condoleezza Rice.

While at Johns Hopkins he founded STAND!, working with Baltimore youth involved in the criminal justice system. He has served on the boards of Iraq Afghanistan Veterans of America and Johns Hopkins University.

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™ dispensaries. Headquartered in Chicago, Illinois, GTI has seven manufacturing facilities and licenses for 50 retail locations across seven highly regulated U.S. markets. Established in 2014, GTI employs more than 350 people and serves hundreds of 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.

 

Media Contact:

Linda Marsicano

VP, Corporate Communications

lmarsicano@gtigrows.com

773-354-2004

 

Investor Contact:

Jennifer Dooley

VP, Investor Relations and Corporate Development

InvestorRelations@gtigrows.com

310-622-8257

 


Jack SmithJack SmithMay 17, 2018
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5min15390

A bourbon heir is betting that the legalization of marijuana in Canada will be similar to the end of Prohibition in the U.S. and lead to untold riches.

Ben Kovler is bringing Green Thumb Industries or GTI public in Canada, according to Bloomberg, due in large part to similarities seen between the liquor industry in the 1930s and cannabis today. Speaking with Bloomberg, Kovler said he intends to bring GTI public via a reverse merger with a publicly traded Canadian company. Kovler, whose family invested $5,000 in the distiller group that would eventually become Jim Beam bourbon, is also the shareholder of GTI

According to the company’s website, Kovler founded GTI in 2014 “and has successfully grown it into a national cannabis cultivation and dispensary operator with 26 licenses across five highly-regulated U.S. markets.” Kovler is also the Chief Investment Officer of an investment partnership that allocates capital across a wide range of industries in both public and private companies. The 39-year-old Kovler believes that GTI can emulate liquor industry heavyweights and move beyond selling marijuana into vaporizer products.

“We’re taking the world from moonshine to cocktails,” Kovler told Bloomberg. “People come in complaining that the moonshine burns their throat, and we say, ‘Here, try this rum and Coke.’ We’re seeking to create an authentic relationship with consumers in the same way that alcohol companies do with hard liquor, beer, and wine.”

Kovler told Bloomberg that he and GTI expect to generate more than $70 million in revenue this year, after surpassing $20 million in 2017, as the company now has its products in more than 100 stores across the U.S.

All of GTI’s locations across the U.S. can be found here.

Kovler added that he expects raising capital will be cheaper in Canada than it is in the U.S., after the company raised $45 million in funding this year, largely from U.S.-based investors. The timing comes just shortly after the Canadian cannabis sector has taken a bit of a hit.

Extreme optimism led to investors bidding up cannabis-related stocks in 2017, especially towards the end, but that bubble burst a bit as investors fretted when Canada would legalize cannabis for adult use. Prime Minister Justin Trudeau and his team have hinted that recreational use could start in the fall, as opposed to July, as had been previously thought.

The sharp corrections seen in Canadian cannabis stocks are indicative of the entire cannabis sector in the first quarter. The Green Market Report Cannabis Company Index fell 21.9 percent in the first quarter, as regulatory concerns, especially in the U.S., weighed on investors’ minds.


William SumnerWilliam SumnerMarch 30, 2018
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3min28410

As legal cannabis continues to weed its way into the mainstream, more and more cannabis companies are starting to be seen as not just pot purveyors but as regular everyday businesses. Some cannabis companies are even starting to be recognized for their excellence outside of the cannabis industry, like Green Thumb Industries (GTI).

On March 26, 2018, GTI announced that it has been named a finalist for the Crain’s Chicago Business Best Places to Work List 2018. Founded in 2014, GTI has steadily grown over the years to 230 employees nationwide, with plans to add 250 more employees by the end of 2018.

“At its core, GTI is really all about people,” said GTI Chief Executive Officer Pete Kadens. “Along with ensuring excellent patient care, GTI’s workplace culture and employee engagement are top priorities for the company. Our philosophy is pretty simple – we’re humans who care about other humans whether that’s our community, our patients or our colleagues and that’s what fuels the company’s growth and success.”

The Crain’s annual Best Places to Work List is determined by analyzing company benefits, workplace practices and the survey results from approximately 15,000 Chicago workers regarding relevant topics such as compensation, career advancement, workplace equality, transparency, and relationships between co-workers and management.

This is both the first time that GTI has been nominated and it is also the first year that the company has been eligible. GTI, in part, credits its status as a finalist to what it describes as a generous benefits plan as well corporate perks such as unlimited vacation time, half-day first Fridays each month, free snacks and frequent employee appreciation celebrations.

“Our perks are great, but I think most important is our culture of honesty, integrity and shared values,” commented GTI Vice President of People Eunice Kim. “Our team works incredibly hard and we are all passionate about being a part of a larger cause and social movement. The mission to ensure patient access to safe and effective medical marijuana lives in every single person who works at GTI and is deeply rooted in our culture.”



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The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


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