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Green Thumb Industries Inc. ("Green Thumb" or the "Company") (CSE: GTII) (OTCQX: GTBIF,OTC:GTBIF), a leading national cannabis consumer packaged goods company and owner of RISE Dispensaries announced that its board of directors authorized a $50 million share repurchase program.
The repurchase program authorizes, pursuant to a normal course issuer bid, the repurchase of up to 10,364,640 of its subordinate voting shares ("shares") from time to time over the next 12 months. Under the company's previous repurchase programs that began on September 5, 2023, Green Thumb repurchased approximately 13.5 million shares for $108 million.
"We believe buying back our stock at the right price is one of the best ways to create value for shareholders," said Green Thumb Founder, Chairman and CEO Ben Kovler. "This authorization gives us the flexibility to act strategically as the right opportunities come along. We remain focused on investing in our brands and strengthening our long-term position in the continuously expanding cannabis market."
The latest repurchase program will commence on Sept. 23, 2025, and expire on Sept. 22, 2026. Green Thumb is not obligated to purchase any shares. If management determines it has a better use for its cash reserves, it is under no obligation to continue to purchase shares and share purchases may be suspended or terminated at any time at Green Thumb's discretion. Shares may be purchased on the Canadian Securities Exchange, the OTCQX Best Market, or alternative trading systems and will be subject to the limitations and rules imposed by U.S. and Canadian securities regulations.
The company does not expect to incur debt to fund the share repurchase program. The actual number of shares purchased, timing of purchases and share price will depend upon market conditions at the time and securities law requirements. All shares acquired will be returned to the treasury and canceled.
About Green Thumb Industries
Green Thumb Industries Inc. ("Green Thumb") is a leading national cannabis consumer packaged goods company and retailer headquartered in Chicago, Illinois. The company manufactures and distributes a portfolio of branded products including RYTHM, Dogwalkers, incredibles, Beboe, &Shine, Doctor Solomon's and Good Green. Green Thumb also owns and operates RISE Dispensaries, a rapidly growing national retail cannabis chain. Green Thumb serves millions of patients and customers each year with a mission to promote well-being through the power of cannabis while giving back to the communities it serves. Established in 2014, Green Thumb has 20 manufacturing facilities and 108 retail stores across 14 U.S. markets, employing approximately 4,800 people. More information is available at www.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. 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 potential repurchase of outstanding shares and use of funds. The forward-looking information in this news release is based upon the expectations of future events which management believes to be reasonable. Any forward-looking information speaks only as of the date on which it is made, and, except as required by law, Green Thumb 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 expressed or implied. When considering these forward-looking statements, readers should keep in mind the risk factors and other cautionary statements in Green Thumb's public filings with the applicable securities regulatory authorities, including with the U.S. Securities and Exchange Commission on its website at www.sec.gov and with Canada's SEDAR+ at www.sedarplus.ca , as well as on Green Thumb's website at https://investors.gtigrows.com , including in the "Risk Factors" section of the Company's most recent Annual Report on Form 10-K.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
Investor Contact:
Andy Grossman
EVP, Capital Markets & Investor Relations
InvestorRelations@gtigrows.com
310-622-8257
Media Contact:
GTI Communications
media@gtigrows.com
This press release was published by a CLEAR® Verified individual.
