Green Thumb Industries' Dogwalkers Cannabis Brand Creates the "Bailey Legacy Fund" to Support Animal Rescue Organizations; Makes Donations to Five Nonprofits

Green Thumb Industries Inc. (Green Thumb) (CSE: GTII) (OTCQX: GTBIF), a leading cannabis consumer packaged goods company and owner of Rise™ Dispensaries, today announced its Dogwalkers brand has donated more than $34,000 to five animal rescue organizations as part of an ongoing awareness campaign in the markets where Dogwalkers are sold. The donations were made as part of the "Bailey Legacy Fund," named in honor of Bailey Buffett Kovler, the beloved dog of Green Thumb Founder and CEO Ben Kovler and his family. Bailey, who served as the inspiration and face of the Dogwalkers brand, passed away in October 2020 but lives on through the brand she inspired and the joy she brought during her lifetime.

"Dogwalkers is proud to provide annual financial support to five incredible animal shelter partners," said Green Thumb Brand Manager David Bleicher. "For Dogwalkers, a brand that was inspired by the companionship of Ben's own special pup Bailey, it is only fitting that we created the ‘Bailey Legacy Fund' to support nonprofits dedicated to bettering the lives of animals. We are grateful for the opportunity to support organizations that rescue, care for and connect deserving dogs with their forever homes."

The organizations that benefited are:

Dogs Playing for Life in Wellborn, Florida : Dogs Playing for Life has served hundreds of thousands of dogs in shelters through playgroup seminars and enrichment programs. By helping shelters improve the quality of life for their dogs, more dogs will be adopted and fewer will fall through the cracks. By investing in canine enrichment through behavioral intervention, Dogs Playing for Life is committed to tackling the "end game" of animal welfare by attending to the emotional well-being of all sheltered dogs from the day they arrive until the day they go home. Visit www.dogsplayingforlife.com for more information.

"The support we have received from Dogwalkers is helpful in all the different levels of resources that we provide to the dogs. All the enrichment that we're providing, all the tools we use, the bedding, everything. We've been able to apply it to anything that is going to make the dogs happier and more comfortable." – Aimee Sadler, Founder and CEO.

Foundation for TJO Animals in Springfield, Massachusetts: Founded in 2007, the Foundation for TJO Animals is a 501(c)(3) organization that raises much needed funds to support and enhance the medical services and programs of the Thomas J. O'Connor Animal Control and Adoption Center. The Foundation is made up of a volunteer Board of Directors dedicated to helping animals in shelter receive the care needed to help them on to their forever homes through fundraising, special events and donor appeals. For more information visit www.tjofoundation.org .

"Whenever there is an animal in distress, there is often a human in distress. We are bringing in more animals from people who are victims of domestic violence or for people entering rehab. Knowing there's a partnership with Dogwalkers, we can do that one animal at a time." – Pam Peebles, Executive Director

Nevada SPCA in Las Vegas, Nevada: The Nevada SPCA, a nonprofit organization, operates a no-kill animal sanctuary, promotes humane education, makes referrals for lower-cost spay/neuter and vaccination services, and challenges people to be the best possible guardians for the companion animals in their care. For more information visit www.nevadaspca.org .

"The donation from Dogwalkers will give us an opportunity to affect the lives of between 40 and 50 animals. And we believe that's a huge number and you can say the donation is saving lives in Southern Nevada." – Lori Heeren, Executive Director

PetConnect Rescue in Potomac Maryland: Founded in 2005, in the wake of Hurricane Katrina, PetConnect Rescue has evolved into a vibrant, well-respected animal rescue organization, the largest one based in Montgomery County, Maryland. PetConnect Rescue is dedicated to saving dogs and cats at high risk of euthanasia. Compassionate volunteers and staff find loving homes for all the animals that come into their care and provide ongoing support throughout the adoption process and beyond. PetConnect is committed to ensuring a highly positive rescue experience for adopters and to raising awareness of the plight of abandoned animals through community education. Visit www.petconnectrescue.org for more information.

"We are primarily donation based. Adoptions are up, donations are down. Knowing that we're sponsored by Dogwalkers has been a huge relief. Animals just bring people together, and certainly when you combine animals and a natural disaster or a pandemic, you find a lot of people are willing to work together." – Katie Hasse, Adoption Coordinator

TAPS No-Kill Animal Shelter in Illinois: Tazewell Animal Protective Society, commonly referred to as TAPS, is a non-profit organization and no-kill animal shelter with no time or age restrictions on the animals we help. TAPS exists to provide humane sheltering and high quality medical care for stray, unwanted, abused, and neglected animals and to find loving, lifelong homes for orphaned pets. Visit www.tapsshelter.org for more information.

"As a no-kill animal shelter, a lot of our revenue comes from off-site events and this year we have had to cancel all of those events due to COVID. Without Dogwalkers we couldn't create these kind of miracles for the dogs that we take in." – Holly Crotty, Executive Director

About Dogwalkers:

Dogwalkers are the perfect pack. Unconditionally there whether you want to sit, stay or play, these mini pre-rolls are pocket size and always made with premium flower. Inspired by long walks with our loyal four-legged friends, Dogwalkers gives back to organizations that help animals in need. Enjoy the journey. Play with Dogwalkers on Instagram and Facebook . For more information, visit Dogwalkersprerolls.com .

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 it serves. 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™. Headquartered in Chicago, Illinois, Green Thumb has 13 manufacturing facilities, licenses for 97 retail locations and operations across 12 U.S. markets. Established in 2014, Green Thumb employs over 2,300 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 .

Investor Contact:

Jennifer Dooley
Chief Strategy Officer
InvestorRelations@gtigrows.com  
310-622-8257
Media Contact:

Linda Marsicano
VP, Corporate Communications
lmarsicano@gtigrows.com
773-354-2004

Source: Green Thumb Industries

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1b06280b-7508-4312-a9b3-439f0ed47408


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Medical cannabis approvals were up by 120 percent in the first half of 2023 compared to the same period in 2022. Statista forecasts that Australian cannabis revenue will reach AU$3.73 billion in 2024 and grow at an annual rate of 3.22 percent, culminating in market volume worth AU$4.53 billion by 2029.

However, Australia’s cannabis industry is still young. Despite there being a strong case for a regulated market, which was outlined in a July 2024 report by the Penington Institute, recreational use is not legal and medical access remains limited and regulated.

Medical cannabis patients have access to various forms of the drug, including flower, oils and tinctures. However, only two medicinal cannabis products, Sativex and Epidyolex, are registered with the Therapeutic Goods Administration, and none are subsidised through the country’s Pharmaceutical Benefits Scheme. Patients who want access to medicinal cannabis must go through special pathways, and doctors who want to prescribe medicinal cannabis have to apply to do so.

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Consumption habits are changing as edibles, vaping and THC beverages gain traction, especially among younger users, and cannabis companies are adapting their offerings to meet shifting demand.

Meanwhile, regulatory uncertainty, particularly surrounding the future of the US Farm Bill and state-level restrictions on hemp-derived cannabinoids, continues to challenge the market.

Despite these headwinds, production data and long-term growth forecasts suggest the cannabis industry remains on a promising — albeit turbulent — path. Read on for more on key trends to watch in 2025.

Consumption methods evolving post-legalization

Shifts in consumer behavior are reshaping markets across the board, and the cannabis industry is no exception.

While smoking remains the dominant method of cannabis consumption, a recent report from the Centers for Disease Control and Prevention highlights the growing popularity of edibles, vaping and dabbing.

The report notes that vaping and dabbing are particularly pronounced among younger adults.

A separate study published by the American Medical Association and funded in part by the Canadian Institutes of Health Research also points to how product preferences have changed among Canadian users since legalization in 2018.


The study indicates that while the use of flower, cannabis concentrates, oil, tinctures and topicals has decreased during that time, the use of vape cartridges, edibles and beverages has increased.

Edibles and beverages were legalized in Canada in late 2019, and Truss Beverage was one of the first players to introduce cannabis-infused drinks. Truss was a joint venture formed by Molson Coors Canada (TSX:TPX.A,TSX:TPX.B) and HEXO, a cannabis company that has since been acquired by Tilray Brands (TSX:TLRY,NASDAQ:TLRY).

In early 2020, Tilray launched a lineup of confectionery, wellness products and beverages through its subsidiary, High Park; Canopy Growth (TSX:WEED,NASDAQ:CGC) made a similar move. These companies gradually brought their products to the US as more states legalized cannabis for medical and/or recreational use.

Today, established cannabis brands typically offer edibles and beverages alongside their other products. Organigram Global (TSX:OGI,NASDAQ:OGI) is one of the newest US entrants, with its April acquisition of Collective Project providing immediate access to the US hemp-derived THC beverage market.

Growing awareness of health and wellness, potentially amplified by the pandemic-led adoption of health trackers, appears to be making an impact on the alcoholic beverage market.

A 2023 Gallup poll reveals a two decade decline in alcohol consumption, particularly among younger adults, suggesting a shift towards more health-conscious lifestyles within this demographic.

Craft beer production declined by 4 percent year-on-year in 2024, according to data collected by the Brewers Association. This marked the largest drop in the industry's history, excluding the pandemic. For small, independent craft breweries, 2024 marked the third consecutive year of declining production. A drop in the number of operating small breweries last year provides further evidence of this trend, with 501 closures in 2024 versus 434 openings.

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Meanwhile, cannabis lounges have been popping up across the US for the last several years. As of early 2025, several states had legalized or were in the process of implementing regulations for cannabis consumption lounges.

Hemp market growth despite regulatory uncertainty

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The legalization of industrial hemp — defined as cannabis with a THC concentration of 0.3 percent or less — through the 2018 Farm Bill led to initial investment and optimistic projections for CBD wellness products and various industrial applications. The sector’s rapid evolution also brought the rise of hemp-derived intoxicating cannabinoids, creating a market that presented both opportunities and complexities for participants.

However, after an initial boom, a lack of infrastructure and clearly defined regulations for CBD, as well as state-level variations and market oversupply, ultimately contributed to a quick retraction.

2024 was a pivotal year for the US hemp industry, as the hemp-related provisions of the 2018 Farm Bill — originally set to expire in September 2023, but extended to December 31, 2024 — created an urgent need to address critical issues like THC limits and the regulation of novel hemp-derived cannabinoids. A major point of contention was the proposed shift from defining hemp based on Delta-9 THC concentration (0.3 percent or less) to “total THC,” which includes THCA.

This change had the potential to significantly impact farmers and processors, as many hemp varieties that are compliant under the Delta-9 THC rule could exceed the 0.3 percent limit when THCA is included.

Various bills and amendments were proposed in 2024 as part of the Farm Bill discussions, each with different approaches to regulating hemp. Separate regulatory frameworks for industrial hemp and hemp grown for cannabinoids were suggested, and many states took their own action, leading to a patchwork of regulations and even outright bans.

Despite challenges, data from the US Department of Agriculture suggests signs of recovery.

The department's annual National Hemp Report from 2024 points to an 18 percent increase in industrial hemp production value between 2022 and 2023, with output growth seen in specific sectors like floral (18 percent), fiber (133 percent) and seed hemp (414 percent). The 2025 report from the Department of Agriculture indicates further expansion, with notable increases observed in both acreage (up 64 percent from 2023) and value (46 percent).

The 2024 Farm Bill ultimately did not pass, and right now the hemp industry is operating under a temporary extension of the 2018 Farm Bill under the American Relief Act of 2025, signed into law on December 21, 2024.

The 2018 Farm Bill is now set to expire on September 30, 2025.

While analysts for Markets and Markets project that the North American hemp industry will grow at a CAGR of 22.4 percent and ultimately reach a valuation of US$30.24 billion by 2029, the future of the industry will be heavily influenced by the outcome of the ongoing Farm Bill discussions.

US cannabis legalization remains stalled

Although there is clear demand for cannabis products, the now-defunct rescheduling process in the US is likely to continue casting a shadow of uncertainty over the industry's long-term trajectory.

Legal and procedural delays, including allegations of improper conduct and bias within the US Drug Enforcement Administration (DEA), led to hearing cancellations, and the new administration of US President Donald Trump has brought leadership changes to key agencies like the DEA and the Department of Justice.

Terry Cole, who Trump nominated to be DEA administrator on February 11, has a history of opposing cannabis legalization in the country. Similarly, Pam Bondi, Trump’s pick to lead the justice department, staunchly opposed a movement to legalize medical cannabis during her tenure as Florida’s attorney general.

While there have been bipartisan efforts in Congress to end federal cannabis prohibition and establish regulations for eventual legalization, the DEA’s actions and statements indicate a potential stall or reversal of progress.

In addition to that, new research is adding complexity to the debate.

A study published in the American Journal of Psychiatry this past March highlights an association between the use of high-potency cannabis strains and increased risks of psychosis, a factor that may not have been fully considered by the Department of Health and Human Services. As stronger cannabis strains become more widely available, a reassessment of their potential health risks may be required.

Investor takeaway

While the cannabis industry holds promise for growth and innovation, investors must remain acutely aware of the regulatory uncertainties and market volatility that will undoubtedly shape its trajectory in the years to come.

Don’t forget to follow us @INN_Cannabis for real-time news updates!

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

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