GTI Closes Acquisition of Connecticut Cannabis Company

Green Thumb Industries (GTI) (CSE:GTII,OTCQX:GTBIF) closed its acquisition of Connecticut-based Advanced Grow Labs LLC.

As quoted in the press release:

AGL is one of only four companies in Connecticut licensed to grow and process cannabis. The Connecticut-based cannabis company operates a 41,000 square foot manufacturing facility in West Haven with the potential to expand. In addition, AGL has an ownership stake in a recently-awarded dispensary that will be located in Westport which makes it the only vertically licensed company in the state. AGL produces and distributes a wide range of cannabis products to every operating store in the state.

“We continue to execute on GTI’s expansion plans and are thrilled AGL is officially part of the GTI team,” said GTI Founder and Chief Executive Officer Ben Kovler. “AGL is a highly successful company in a limited license state with an excellent leadership team that will continue to be at the helm of this business. We are now solidly positioned in the tri-state area with this entry into Connecticut.”

The Connecticut medical marijuana program currently has more than 30,000 patients and over 1,000 registered physicians.

Click here to read the full press release.