3C Compassionate Care Center Rebranded to Rise Naperville to Coincide with Launch of Adult-Use Sales , Continues as Only C annabis Store to Serve Medical Patients in Naperville
First Day Profits from Adult-Use Sales to Benefit Hunger Relief Nonprofit Loaves & Fishes
Naperville Mayor Steve Chirico to Attend Ribbon Cutting
Green Thumb Industries Inc. (GTI) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of Rise™ and Essence retail stores, today announced the grand opening for adult-use cannabis sales at Rise Naperville (formerly 3C Compassionate Care Center) on October 8 which will include a ribbon cutting ceremony with Naperville Mayor Steve Chirico. Profits from the first day of adult-use sales will benefit Loaves & Fishes a local poverty-fighting and hunger relief nonprofit agency. Rise Naperville is the first store to offer adult-use cannabis sales in Naperville, the third most populous city in the state, and will remain the only store in the city to serve medical patients.
"We worked hard to offer adult-use cannabis sales in Naperville and are excited to meet new customers while continuing to serve our patients," said Green Thumb Founder and Chief Executive Officer Ben Kovler. "We have been proud members of the Naperville community since 2016 and will remain good neighbors, creating jobs and tax revenue and making a positive impact through our corporate responsibility programs."
The store remains at its current address at 1700 Quincy Avenue and has been remodeled and expanded to ensure ample space to accommodate the current medical community as well new adult-use customers. Rise Naperville is technology-enabled with kiosks for quick ordering and pick up, and will continue curbside service for medical customers.
The company added 20 new positions to prepare for the onset of adult-use sales in Naperville and generated 15 construction jobs for work on the store's exterior and interior to accommodate additional customers and to complete the rebranding project.
A referendum to allow adult-use cannabis sales was passed by Naperville voters on March 17, 2020.
"The community has joined in thoughtful deliberation, a city-wide referendum, and consideration on all sides of the adult use recreational cannabis discussion," said Naperville Mayor Chirico. "In the end, we have demonstrated our commitment to fostering a dynamic business environment and expanded economic opportunity in our city. I look forward to celebrating the grand opening of Rise Naperville and welcoming adult use recreational cannabis to Naperville."
Nancy Wiersum, Executive Vice President of Advancement for Loaves & Fishes, said: "During the pandemic, Loaves & Fishes has seen a marked rise in the number of people needing help. It is only possible to serve nearly 1,000 families a week with healthy food and programs for self-sufficiency because of the support of our community. We are grateful for Green Thumb's generosity."
Rise Naperville is the eighth Green Thumb store to offer adult-use cannabis in Illinois, joining Rise Canton, Rise Effingham, Rise Joliet, Rise Mundelein, Rise Niles, Rise Quincy and 3C Joliet. Green Thumb has licenses to open two more stores in the state. As a vertically integrated company, Green Thumb also owns and operates two manufacturing facilities in Rock Island and Oglesby, both of which are undergoing capacity expansion to meet increased demand in Illinois with ample supply of its award-winning branded products, including Dogwalkers, incredibles, and Rythm.
In August, total cannabis retail sales in Illinois reached a record of more than $95 million, well exceeding $1 billion of legal cannabis sales on an annualized basis. Experts estimate the Illinois market potential is $2.5 billion after maturation.
Rise Naperville will offer online pre-ordering for adults 21 and older and curbside pickup for medical patients. Orders may be made at www.risecannabis.com . Rise Naperville is located at 1700 Quincy Avenue in Naperville and will be open Monday through Saturday from 9 a.m. to 7 p.m. and Sunday from 9 a.m. to 5 p.m.
About Green Thumb Industries :
Green Thumb Industries Inc. ("Green Thumb"), a national cannabis consumer packaged goods company and retailer, promotes well-being through the power of cannabis while giving back to the communities in which they serve. Green Thumb manufactures and distributes a portfolio of branded cannabis products including Beboe, Dogwalkers, Dr. Solomon's, incredibles, Rythm and The Feel Collection. The company also owns and operates rapidly growing national retail cannabis stores called Rise™ and Essence. Headquartered in Chicago, Illinois, Green Thumb has 13 manufacturing facilities, licenses for 96 retail locations and operations across 12 U.S. markets. Established in 2014, Green Thumb employs over 1,700 people and serves thousands of patients and customers each year. The company was named a Best Workplace 2018 by Crain's Chicago Business and MG Retailer magazine in 2018 and 2019. 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. 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 filing of the Documents and the timing thereof. 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, 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 the SEC's website at www.sec.gov and on SEDAR at www.sedar.com , including the risk factors set out in the 2 nd Amendment to GTI's Registration Statement on Form 10/A and its Form 10-K.
|Investor Contact:||Media Contact:|
|Jennifer Dooley||Linda Marsicano|
|Chief Strategy Officer||VP, Corporate Communications|
| 310-622-8257 ||773-354-2004|
Source: Green Thumb Industries
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/456b6569-98ef-4123-9a58-885af33df253